Becoming debt free is a dream that many people have but do not know how to earn the extra money to pay off their debt. Writing online articles can be a great source of extra income because it is something that can be done on your own schedule and there is the potential to bring in a few thousand dollars a month to put toward debt. So if you want to get debt free and are interested in writing, then use these tips to reach your goal.
Write for Upfront Payments
When you are trying to find immediate money to make minimum payments and pay down debt, start by writing articles for sites that will pay you upfront payments. If you are just starting to write online, try writing for sites like Helium and Associated Content to get started. The upfront payments are a bit low on these sites, but they are a great place to work on your writing until you can move up to higher paying articles. Even with their lower payments though, if you can average an upfront payment of just $3 per article and you write 5 per day, you will have made $450 in one month to put toward your debt.
However, if you are already familiar with online writing or have writing experience, then you should start applying for higher paying sites. Demand Studios, Internet Brands and Break Studios are all sites that will pay much higher rates for you articles. Demand Studios average pay is $15 per article, Internet Brands pays $10 and Break Studios pays $8. Writing just two articles for each of these sites per day could net you just under $2000 in one month. Talk about a dent in that credit card bill.
Write for Residuals
Once you have enough money coming in every month through upfront payments to cover your minimum payments and then some, start looking into writing for residual payments. Residual income will help reduce how much you have to write every month because you will continue to get paid for articles you have already written. The more articles you have earning, the less you have to write for upfront payment. Not only that, but those residual income articles will continue to earn money for you after you are out of debt, which will help you pad your income later and keep you out of debt.
If you have already been putting article on Helium and Associated Content, you are already getting residual earnings. If you haven’t, however, you should start focusing a little time every day to putting articles up on sites that will pay you for either page views or adsense clicks. InfoBarrel, Firehow and Suite101 are just a few of the revenue sharing sites that will help you build passive income every month.
Apply to your Debt
The most important part of writing to pay off your debt is to actually apply the money you make toward your credit cards and loans. It can be too easy when you are bringing in all that extra money to spend it on other things that you convince yourself are emergencies. If you find yourself having trouble with this, then open up a separate checking account specifically for your writing income. Have all of you income from Pay Pal transferred there and only look at the account when you are going to make a payment on your debt. This should help you forget that the money is there and force you to live on your other income.
Keep Writing
Being consistent with your writing is by far the most important thing about writing to pay off your debt. With writing, you only get paid when you do the work. So if you do not write consistently, you will not bring in the income you need to get debt free. So make sure you are making a schedule for you to sit down and meet your writing goals every day. When you get tired, try to remember what it is you are working to hard to accomplish, financial freedom. Take a deep breath, visualize yourself paying off that last debt and then get back to writing. You will be glad you did in the long run.