How to Improve Your Cashflow In A Recession

I am often asked about ways to get out of debt without spending any additional money out of your pocket, and there are a lot of answers to that questions. However, a better question to ask would be what are the ways to improve your cashflow in our current recession.

This is because if you only have a dollar to spend, then you have to take from one area to pay more towards another, right? But if you can find a way to turn a dollar into $2 or $3 or more, then you can get out of debt more quickly because you can pay more toward your debt.

There are several ways to improve your cashflow (even in a recession):

1) Get a part time job on the weekends or evenings. This isn’t easy if you have a family or other obligations, but even an extra $100 per week can go a LONG way toward paying down your debt.

2) Find a way to get paid for a skill or hobby that you enjoy and are already doing. For example, I love swing dancing and go out dancing regularly as part of my social life. Because of this, I’ve found people who will pay me to teach them how to dance, and it doesn’t feel like a ‘JOB’.

3) Start a home based business. There are many good websites that teach people how to make money from home such as: http://MassiveMarketingSystem.com or The Internet Marketing Center. There are also ways to make money taking surveys, selling your goods on ebay and more. This area is only limited by your imagination, and I’m more than happy to help you find something that works for you. (Just leave a comment)

The current state of the economy is actually working in your favor in many ways by offering good prices on large ticket items (real estate, cars, equipment, etc.), lenders being willing to negotiate on credit cards, mortgages and more - as well as historically low interest rates for loans. However, you can only take advantage of these if you have the resources to do so…

Send me your questions, and I’ll be sure to help you to understand your options and improve your cashflow in the recession.