The quickest way to make money

In my experience, the quickest way to make money is to SAVE money. If you plan to collect water in a bucket, first you should stop up any holes in the bucket…Last year we decided that our little family would try to survive on just one income. I embarked on a plan firstly to stem the overspend and then to generate additional revenue streams where possible. So how do you stop the overspend that is endemic in our society? Two words: ‘credit cards’. The single most important factor fuelling our over spending and keeping us poor is what we have in our wallet. My primary aim has been to reduce credit card debt, and this is how I set about doing it. Firstly I tried to consolidate my debt onto one 0% offer card – failed because had too many accounts open but inactive. I then took steps to obtain my credit report and set about officially notifying companies that I was closing the accounts that were inactive. I successfully applied for another 0% card and transferred all my outstanding debt onto it. No interest means that 100% of my payments go to reducing my debt, but there is one more vital step…. ZERO credit card spending…. This is the hard part, but if you want to see immediate results, it is the only way. Extra income from investments and bonuses has been put to good use reducing this debt and in less than a year, the debt has halved. My strategy will be to pay off what I can and then transfer to another 0% deal when this one expires – watching the debt drop month by month is very encouraging and has given me quite a buzz. So how do you survive without using a credit card? That my friends, will be unfolded here in subsequent posts over the next few days….