My Demoralizing Debt Issues

I thought I’d share a little into my world with debt. I can take a little break from all the affiliate talk and get into more of the lifestyle design of the Four Hour Workweek. I know there are people out there like me that have a lot of debt that seems to be limiting their potential for the life they want.

The goal of lifestyle design is the ability to cut down on all expenses that don’t give you what you want, so you can put your money toward things you want (like extended travel). The problem with debt is that it is demoralizing. You pay it and there is no real benefit. You put extra down on it and there is no benefit. You don’t get that gratification until the day it’s paid off.

My big debt is my student loan. I won’t mention any numbers, but it has a 10 year term on it. I’m paying back more than my minimum. At this rate, I’ll be debt free in 6 years and 2 months. That’s too long for me. The most demoralizing thing about it is the compounded interest. 35% of my monthly payments go to paying down the compounded interest from the month. It just sucks.

Obviously I need to make a bigger dent in this, so I’m going to ask my readers for a little help. No, I’m not looking for a handout, I’m looking for some ideas. I think a favorable goal is to earn an extra $100/week, which will give me roughly $400/month extra to put on my debt.

  • I could get a job at McDonald’s, but with taxes, gas and the time required before and after work, it just isn’t worth it. I’m looking for internet related duties that I could do in my spare time.

  • I do a ton of article marketing. I’m an English speaker, so I could sell high quality articles. I was thinking I could write 10-12 unique articles a week and sell them to someone in a pack for $100.

  • I also thought of PLR related stuff. I’m very unfamiliar with actually creating and selling of this stuff. From what I’ve gathered, I can write some articles and sell off the content multiple times. Meaning, I could write 5 articles, sell them for $10 and just sell them 10 times for $100.

If anyone has any ideas on what I could do online to generate an extra $100/week, it would be greatly appreciated. Please note that selling stuff on eBay or Craigslist isn’t really a solution since I’m not actually earning anything, I’m just liquidating stuff. Also, if you’re thinking I should try to make more sales with affiliate marketing, that’s always a goal.

August 21 2008

If you enjoyed this post, make sure you subscribe to my RSS feed!

Back to Affiliate Marketing Xpert

Affiliate Marketing Xpert was created for people that want to live the Four Hour Workweek lifestyle.

Home
About
Contact

Categories
© 2008 Affiliate Marketing Xpert - AMXPERT.COM - Full RSS