Never Do This if You're a Busy Mom Trying to Pay Off Debt
Tuesday, 23 April 2024, 19:00
US Credit Card Debt and Consumer Stats
TransUnion reports US credit card debt hit $1.05 trillion, affecting millions of consumers.
The Pitfalls of Multilevel Marketing (MLM)
Multilevel marketing (MLM) gigs may offer minimal profits and strain relationships, making MLMs an ineffective debt repayment strategy.
- Low per-product commissions due to profit sharing
- Potential alienation of friends and family
A Smarter Approach to Debt Repayment
Choose side hustles that fit your schedule and goals without resorting to MLMs.
- Consider night gigs if childcare is an issue
- Explore work-from-home options like product reviews and blogging
Alternative Debt Repayment Strategies
Consolidate credit card balances into a personal loan for predictable monthly payments to pay off debt efficiently.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.