Best ways to pay off debt – more on consulting

Best ways to pay off debt — last week, I emphasized how consulting can help you get out of debt. At this time of year, as credit card bills roll in, people often start wondering how they’re going to manage. I’ve previously explained how my friend used consulting to get out of debt. It’s a good way to generate a second income at a high hourly rate.

Many career coaches will say that you should only pursue work you love. And I generally agree. You don’t want to do work that makes you miserable. But, sometimes, there’s no greater joy than digging out from under a giant burden. For many people, financial freedom is an important dream. By starting your own home consulting business, you can start paying down debt and get on the right track.

If you’re currently in debt, try calling your credit card company and explain how you’re struggling to make ends meet. Ask if they can reduce your interest rate. You’d be surprised how many banks and credit card companies would rather reduce your rate and get the payment, as opposed to having to send you to collections or risk you declaring bankruptcy.

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