5 Ways to Pay Down Your Debt This Summer

By , Posted on Jul 08, 2016
Personal Finance
Personal Finance

money in the sandSummer can be a great time to earn extra money that you can use to pay down your debt or set aside for a rainy day.

Looking to get started? Here are five easy ways to make a little extra money over the summer.

1. Get A Summer Job

Even if you already have a full-time career there are lots of ways to make a little extra money over the weekend.

  • Be A Mover – If people are moving, they may be willing to pay for extra help packing and lifting boxes.
  • Be A Greeter – Summer is the prime real estate season and realtors who are hosting open houses may need greeters to help them cover all their properties.
  • Provide childcare – Have friends who work during the day, or need a break from their kids? Offer to babysit. Even if you simply exchange nights with friends, you can save money on a babysitting when you need a night off for yourself.

2. Clean Out Your Closets

Summer is a great time to clean out the garage, empty your closets and get rid of stuff that you don’t use anymore. Instead of tossing everything in the trash, hold a yard sale, or advertise items on Craigslist. If you have items that don’t sell, Goodwill and other non-profit organizations have donation centers where you can donate your items for re-sale.

Make sure you keep an inventory of everything you donate. You can write the donation off your taxes. So always ask for a receipt from the donation center.

3. Put Your Kids to Work

Unleash your child’s inner entrepreneur. If your kids have time off over the summer, encourage them to find summer work. Even younger kids can start a lemonade stand, offer to do yard work and find other ways to earn a dollar. Not only will it keep them busy, they’ll gain a greater appreciation for the challenges of spending and saving.

4. Drive Around

Uber, Lyft, and other ride-share services need drivers over the summer. If you have a car, good insurance and free time, you can make extra money on your own schedule.

5. Rent Your House

Planning to do some traveling over the summer, or have a spare room that’s going unused? Consider listing your home on a vacation rental site like HomeAway or AirBNB. Not only can you make extra money, you can meet new people from all across the world. Just make sure you understand everything that’s expected of you and understand the risks before you list your home.

Whatever you earn, remember to apply it responsibly. Use it to pay down your debts, or put it into savings.

If you find yourself struggling with debt or would like to find out about becoming debt free, call DebtHelper.com at 800-920-2262, or schedule an appointment today.

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