How to get rid of debts and make money when you have less income or no job!

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This is a guest post by Sophia Hayden. This post does not contain any opinions or content created by Mark Erik and Passive Income IT LLC.

Losing a job or earning less money can be the worst experience for you especially if you are already in huge debt. Getting out of debt can be difficult for you since you have no steady income or good savings. It is normal to feel depressed, stressed and anxious about your future. Even the stress of huge debt can make you overwhelmed. However, you shouldn’t lose your self-esteem during your less income or job loss period. No matter how bad your financial situation is, you should remain strong and try your best to come out from the intense financial situation.

Here are some tips that can help you to get a job to ensure some income so that you can work on your unpaid debts to get rid of them as well.

How to repay debts when you have no job or less income

Though it becomes more difficult to pay off your debt when you have no job, still you have to work hard to manage your debts.

You should try to repay your existing debts first while looking for a new job.

  1. List your debts: You can make a list of every debt that you need to pay off. Remember to include all your bills. This will help you understand what exact amount of dues you have and how much you need to pay off every month for your debts. By doing this, you can easily manage your debts.
  2. Reduce your daily expenses: You should try to reduce your daily expenses to save as much as possible. It will help you to make debt payments.
  3. Negotiate with your creditors: Talk to your creditor to explain your current financial hardship. Tell them that you have no job currently. They may reduce the interest rate or give you an extended payment plan for you.
  4. Don’t accumulate more debts: Don’t use your credit card to buy daily things when you have no job. Live a simple life to reduce unnecessary expenses. It will help you to stay away from further debts.
  5. Seek credit counseling help: If you have serious money issues and huge debt, you can seek credit counseling help. Contact a non-profit credit counseling agency to get assistance. They will help you to understand basic money management ideas. Also, they will give you a budget according to your financial situation. If you need professional debt relief, then they will assist you in selecting the right debt management help to get rid of debts easily.
  6. Manage your credit score wisely: When you are earning less, you should try to accumulate no debts. As for the credit cards, you will have to stop using those as much as possible. Use the cash that you can get from your savings account to pay for your daily necessities. If you use credit cards, then repay the bills in full and within time. Check with your credit reports to find out the status of the different accounts that you have. All of these together will help you in maintaining the credit you have had before getting laid off even if you are low on affordability.

How to make money online

The Internet has thrown open various opportunities for making money online. Now, apart from exploring the conventional ways of earning money, you can opt for different online methods of earning money. You can also consider other ways such as blogging, freelance writing, and selling to make money online.

Here you go:

  1. Earn money by doing freelance blogging: If you are good at writing, you can use that skill and write for various websites to earn some money. You can find various websites who are looking for freelance writers, related to your area of interest. By writing for different websites, you can earn some money.
  2. You can participate in online surveys to earn money: You can take part in different online market surveys to earn money. Different companies outsource market surveys through various market research companies. The market research companies who conduct the surveys are paid a certain amount of money to conduct the surveys. The market research companies sometimes share a certain percentage of their earning among the participants of the market surveys. You can participate in various market surveys and earn some money.
  3. Sell items on the eBay: If you are a producer of a particular product which you want to sell or if you are looking to sell something which is of no use to you, you can use the eBay platform. You can advertise your products on the eBay website. Chances are there that you may find customers of your products. eBay is a nice online platform, which connects buyers and sellers.
  4. Provide online professional service: You may have expertise in a certain field. Say you are an expert on insurance-related matters or say you are proficient in website designing, then you can sell your services to other parties. By selling your services, you can earn some money.
  5. Take advantage of the affiliate marketing program: The affiliate marketing program is a very popular program to earn money online. To take part in the affiliate marketing program, first of all, you need to own a website. In this program, you advertise the products and services offered by others. Some of the visitors who visit your website may turn out to be the customers of the products and services for which you advertise. For each lead generated, you are entitled to receive a commission. Your website, however, must be somewhat related to the products and services for which you advertise.

How to get a good job easily

  1. Sign up with a good job portal site: Various job portal sites host various job requirements. You just need to type your requirements and pat come all the jobs that suit your requirements. This is the best way to get a good job. Search on the web to get any reputed job portal sites that will help you stay updated with the recent jobs that match your requirements.
  2. Make an attractive resume: Creating a perfect resume is very important for someone to get the best job in the market. Though it is not that you can get a good job only with the help of a good resume, but your C.V has a very important role in getting a job. A structured resume is something that includes your work experience, educational qualification in full and that which helps you impress your interviewer. There must not be any errors in your resume as this will create a bad impression on the employers.
  3. Be well prepared for the interview: As you gather enough education and make an attractive resume that suits your qualifications, be prepared for the interview. Prepare yourself for a job and learn the etiquette to follow during a successful interview.

Lastly, if you are fired from your job, then don’t lose your hope. Remember, you can again get a good job. But, if you are feeling low and losing your self-esteem, then seek professional help to get rid of it.

Now, once you get a good job, make sure you build an emergency fund for yourself from where you can spend on your daily expenses during the emergency like job loss, illness, job change, and an accident. This will help you avoid financial problems in the future. Also, when you have no full-time job, you can consider the part-time seasonal job to earn money. Search locally to know whether or not there is any seasonal job available for job seekers. During the bad financial time, try to live a frugal life so that you can manage everyday living costs properly.


Bio: Sophia Hayden has started blogging after completing her graduation. A deep passion for writing has inspired her to get connected to other bloggers through blogging. She loves to give her opinion on finance, pets, and lifestyle topics.

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