Use All Your Resources
May 12th, 2007 | by Molly's Brother |I was listening to a personal finance expert talk about debt reduction on the radio earlier today. She discussed ways to reduce debt and how to avoid pulling out your credit card. She covered the basics of tracking your spending and learning how to stick to a tight monthly budget.
At one point though, the interviewer asked her, “But for those out there who feel like they don’t know how to make more money to reduce their debt, what do you suggest?”
Her response was elegantly simple.
“Use all your resources,” she replied.
She stressed that the only way to better your financial situation is to figure out a way to make more money, but she said that doing so is such a personal decision. Her point? Only you know what your strengths are. Only you know what your talents are. Only you know how to make more money.
I sat down this afternoon and started brainstorming all of my options. I edited nothing. Short of the dream suggestions (i.e. “win the lotto”), the reality is that most of the money-making opportunities are entirely my abilities.
I think this simple piece of advice is remarkable: Use all your resources.
One Response to “Use All Your Resources”
By Tammy on May 12, 2007 | Reply
I agree. I listen to Dave Ramsey every day on the radio and he often refers to increasing your income (whether it’s delivering pizza at night or starting your own cleaning business) as the way to get out of debt. Yes, we need to spend less and not go into debt BUT more often than not - simply increasing the money coming in and using it to knock out debt is the fastest way to become debt free.
Tammy
P.S. You’ve been at my own blog.