How to get out of debt, step 8:
Decide which alternate income source to add for extra income.
Previous: 7. List alternate income sources and other possible ways to increase income.
8. Decide which alternate income source to add for extra income.
Ingredients: your list from the previous step, your family's input, what your conscience tells you.
It's very important to be together with your family in times of crisis. Stressful times can cause people to behave in ways that are not true to themselves. You are all in this together, so listen to each other and be supportive. As you review the list of possible ways to increase income, get feedback from everyone involved. Most of the ideas will be crossed off the list immediately. Some will be controversial, and there may be a few that will be appealing alternate income sources.
Choose those ideas that are acceptable to all involved, and feel right to you. Then, without hesitation, put that plan for extra income into practice. As with any project in one's life, the most important step to help you get out of debt is that first one. Once that's been taken, a momentum is created that will carry you forward with greater ease the more you go. Therefore, get started within 24 hours if you can. Create a momentum, no matter how difficult it may be emotionally or otherwise. When you have done this, estimate how much more extra income you will have per month. In our next phase, we will see how much expense can be saved.
Next: 9. Plan how to cut expense and save money.