Debt?

[Monica]

How much debt are you in? Have you ever been in debt? If so how did you get out of it?

 

[Nebulous's iconNebulous]

How much debt are you in? Have you ever been in debt? If so how did you get out of it?

Currently in debt right now. I got in car accident a while back and insurance didn’t cover my car / only theirs (I’ve since increased my coverage, had to learn that lesson the hard way). Also I charged this years property taxes on that same credit card. Plus I bought some new furniture a while back. So… I’m working on paying off $15k right now.

Shooting for getting that paid off by March 2023.

 

[Monica]

Currently in debt right now. I got in car accident a while back and insurance didn’t cover my car / only theirs (I’ve since increased my coverage, had to learn that lesson the hard way). Also I charged this years property taxes on that same credit card. Plus I bought some new furniture a while back. So… I’m working on paying off $15k right now.

Shooting for getting that paid off by March 2023.

$15k?!? Thats a lot of money!

 

[Nebulous's iconNebulous]

$15k?!? Thats a lot of money!

It sure is! I'll overcome this current situation though.

 

[Monica]

It sure is! I'll overcome this current situation though.

How are you going to do that?

 

[Duskpire]

I paid off all of my credit card and medical debt last summer. Feels good not to have that haunting me anymore.

 

[Nebulous's iconNebulous]

How are you going to do that?

Just going to throw all my extra money at it until it’s paid off. Going to bring my Entertainment and restaurant budget down to almost zero.

I paid off all of my credit card and medical debt last summer. Feels good not to have that haunting me anymore.

Congratulations! 🎉

 

[Kai]

Being in debt can be a worrying experience, but it can be overcome, even if you are unemployed, there are ways to solve most problems.

A side-hustle is a great way of getting debts down.

 

[Nebulous's iconNebulous]

Being in debt can be a worrying experience, but it can be overcome, even if you are unemployed, there are ways to solve most problems.

A side-hustle is a great way of getting debts down.

Any recommendations for a side hustle?

 

[Kai]

Any recommendations for a side hustle?

I made money from free crypto, which then I used to invest in my business. Took a few years but got out of debt with it.
If you like writing, you could sign up to Medium, get 100 followers and join their partner programme. If you write a good topic people read, that can bring a few hundred $$$ a month.
You could become an affiliate but that can be low paid if the products are not great commission rates, or you don't make XXX sales a month.
And of course, my business is about offering fully managed dating sites, where all you do is advertise your own site which can be great money if you are good at getting people to join a dating site (I should know!).

Actually, so I don't get blamed for spamming, if my business interests you but you are put off by the price, drop me a PM and I will give you 12 months free to get started? That is what I like to call an OffTopix/Wober special offer just for you guys, because, you know, I like to help out where I can when times are a bit tough.


Another idea is a bit like the Medium, but doing an email newsletter about something you know a lot about and having either paying subscribers, or offering it free but using advertisements in the emails.

If I think of any others off the top of my head I will post them here.

 

[Nebulous's iconNebulous]

I made money from free crypto, which then I used to invest in my business. Took a few years but got out of debt with it.
If you like writing, you could sign up to Medium, get 100 followers and join their partner programme. If you write a good topic people read, that can bring a few hundred $$$ a month.
You could become an affiliate but that can be low paid if the products are not great commission rates, or you don't make XXX sales a month.
And of course, my business is about offering fully managed dating sites, where all you do is advertise your own site which can be great money if you are good at getting people to join a dating site (I should know!).

Actually, so I don't get blamed for spamming, if my business interests you but you are put off by the price, drop me a PM and I will give you 12 months free to get started? That is what I like to call an OffTopix/Wober special offer just for you guys, because, you know, I like to help out where I can when times are a bit tough.


Another idea is a bit like the Medium, but doing an email newsletter about something you know a lot about and having either paying subscribers, or offering it free but using advertisements in the emails.

If I think of any others off the top of my head I will post them here.

Interesting. Also thats nice of you to give people a free trial with your company. Any suggestions on offline side-hustles?

 

[Kai]

Interesting. Also thats nice of you to give people a free trial with your company. Any suggestions on offline side-hustles?

Everything is online these days. Buying, selling, payments, it is all online.

 

[prophet]

I'm in debt but mostly because it's debt towards my house. Housing prices were skyrocketing in Texas and I had to jump in before the interest rates went back up so I did just that. Applied for a first time home buyer program (they paid my down payment). Asked for a few things to be fixed up (knowing the buyer would refuse) and instead they offered 5k money in return which we used to fix up the things asked and used the rest to pay my closing costs. Basically got in the house for free and in turn renovated the entire thing. Removed popcorn ceiling, redid texture and repainted the walls. Redid the flooring and baseboard/molding. New doors included front and back. New vents. Redid all of the closets and put in all new appliances outside of the refrigerator (they left the old one). I used about 5-7k cash to do most of it, and put the rest on a home depot credit card. I asked for quotes on most of it and labor alone would put me near the 40k mark. I'm probably 100k or so in debt still but my house is now worth near 300-350k (and rising) when I bought it for 190k. I also live in a nicer suburb but it's a much older house, but at the end of the day I'm not worried about it. I make good money with my fiancé and it's actually cheaper to pay my mortgage than it is to rent where I live.

 

[Nebulous's iconNebulous]

Everything is online these days. Buying, selling, payments, it is all online.

I know but I'd rather have a side hustle that gets me off the computer. I spend too much time on here already.

I'm in debt but mostly because it's debt towards my house. Housing prices were skyrocketing in Texas and I had to jump in before the interest rates went back up so I did just that. Applied for a first time home buyer program (they paid my down payment). Asked for a few things to be fixed up (knowing the buyer would refuse) and instead they offered 5k money in return which we used to fix up the things asked and used the rest to pay my closing costs. Basically got in the house for free and in turn renovated the entire thing. Removed popcorn ceiling, redid texture and repainted the walls. Redid the flooring and baseboard/molding. New doors included front and back. New vents. Redid all of the closets and put in all new appliances outside of the refrigerator (they left the old one). I used about 5-7k cash to do most of it, and put the rest on a home depot credit card. I asked for quotes on most of it and labor alone would put me near the 40k mark. I'm probably 100k or so in debt still but my house is now worth near 300-350k (and rising) when I bought it for 190k. I also live in a nicer suburb but it's a much older house, but at the end of the day I'm not worried about it. I make good money with my fiancé and it's actually cheaper to pay my mortgage than it is to rent where I live.

I can relate to that big time. I just bought a house not too long ago. I didn't even count the loan on my house in the debt I mentioned above. Sounds like you turned that house into a nice one!

 

[prophet]

I know but I'd rather have a side hustle that gets me off the computer. I spend too much time on here already.

I can relate to that big time. I just bought a house not too long ago. I didn't even count the loan on my house in the debt I mentioned above. Sounds like you turned that house into a nice one!

Yeah love the house. Feel much better paying for this instead of letting my money waste towards rent. Just need to fix up the rest of the outside and redo the kitchen counters and cabinets and basically everything will be brand new.

 

[Nebulous's iconNebulous]

Yeah love the house. Feel much better paying for this instead of letting my money waste towards rent. Just need to fix up the rest of the outside and redo the kitchen counters and cabinets and basically everything will be brand new.

I need kitchen countertops too! Plus all the bathrooms. Everything is 20 years old. My kitchen has tile & grout counters.

 

[Duskpire]

A side-hustle is a great way of getting debts down.

Cool. Any suggestions?

 

[steel bat]

The most I've ever owed is when buying the house. So glad when the mortgage was cleared.

I've never liked owing money, I don't even have a credit card, I use a debit card for when I buy something on plastic.

 

[Monica]

Just going to throw all my extra money at it until it’s paid off. Going to bring my Entertainment and restaurant budget down to almost zero.

Hope you have enough extra money to get it paid off by March! What happens if you don't pay it off by then?

 

[Monica]

oops I never answered the question myself. I currently have $3400 in credit card debt. Making the minimum payments and my balance isn't really going down at all!