I will admit that during our depressed economic state, there is enough blame to go around; blame for the auto industry, housing industry, wall street, etc. But when it comes to individual debt, we all must take responsibility for our personal financial state. My participation in the blame game was not about me blaming others, but me taking the position that there was simply no other categories in my budget I could reduce cost. Since coming to my senses, I've gotten rid of cable, adjusted my thermostat accordingly, looked at alternatives to buying (such as borrowing or bartering), reduced the use of my car, and not paying for Internet on my cellphone. These are just a few of the ways I've taken responsibility and reduced my expenses.
However, for some people who are in debt, simply reducing expenses is not enough. For those in extreme debt, desperate times may have to call for desperate measures---like getting a second job, if necessary. I know a lot of people are going to say, 'Yeah right...a second job in this economy?' But, I recently wrote a post about how my sister works two jobs to afford her big house. She acquired her second job about 5 months ago---during our current recession. My point is, in order to take full responsibility for paying off debt, a second job may be the only way to make a dent in the debt balance when cutting cost simply isn't enough.
When I speak of securing a second job I definitely speak from experience because I've had more than one job at different stages in my life. Although I'm not currently working a second job (only because I earn enough money to make sizable debt payments) you better believe I would if my debt balance necessitated it. Putting an end to the blame game and taking personal responsibility, in regards to becoming debt free, means taking the necessary actions, by any means necessary; even if that means sacrificing a few more hours of your personal time and putting in some sweat equity.
So, I'm interested to know, have any of you taken on a second job to pay off your debt or do you feel a second job is not worth the sacrifice? Or have you gone the route of extreme cost cutting?
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Now I have gotten enough hold on my debt and a few raises in between that its not needed. I can pay large chunks on debt with 1 income which is great.
I still work overtime when it becomes available to me and if it comes between now and Christmas, believe you me I will be there!
I've thought about a second job, but I don't feel it is absolutely necessary right now. I spent so many years working 70+ hours, I don't want to go back to that again. It will take me longer to pay the debt off, but my sanity and sleep require it. I am looking into freelancing part-time from home. I think that will work better for me.
I have also proctored the ACT for the college...and the babysitting idea...I may actually put an ad on Craig's List. That seems like a great part-time job.
I am tired of listening to excuses too. Your post totally reflects what I think.