According to American personal financial statistical data, many Americans find themselves stuck in debt, $100 in a bank account and in need of help. How does one work himself out of debt? Let me try to untangle this and work out a plan that will work as long as the person is willing to work the plan!
The first thing I suggest is that the person becomes comfortable with being uncomfortable for a little while. I suggest cutting all unnecessary monthly payments—gym membership, cable television, paying for lunch at work, etc.
The next thing is to become friends with sites like ebay. A great deal of people get rid of things they don’t need. You can make that an advantage for you. If you know someone who is getting rid of something they don’t need, take a look at the item. If the item is resalable you can offer to resell the item for them and split your profit with them 50-50.
You also ask the person who is getting rid of the merchandise if you can simply take possession of the merchandise, that way there is no need to split profits. Either way you post the item on eBay or Craigslist and sell it. It is possible, depending on the merchandise that you are offering, to make $1,000.00 in a weekend.
One more thing I suggest is to assess what you do well. One or more of the things you do well may be needed by others. Market that skill or skills and charge a rate for the service you offer.
I will admit that this takes some time and it will take a bit of energy. But if you are determined to make this happen, it will happen. If you take every weekend in the month and alternate these two ideas, you have the potential to make an extra $4,000.00 each month.
With those funds your cash flow will be unclogged so that you are able to pay down on your debt and build wealth simultaneously. If you are stuck in debt with $100.00 to your name, try this advice and let us know your results in a month.