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I may be crazy...

March 30th, 2006 at 07:55 am

I may be crazy, but I'm trying to develop an "information product" (ebook) to make some extra money to pay off debt. I've been working on it for a couple weeks. Actually, I haven't actually begun writing it -- I've been too busy making a couple related websites and writing/distributing free articles & reports to build up a list of people to market this ebook to. I'll let you all know my progress.

It has eaten a bit into my savings, however -- to the tune of about $400. I am a bit ashamed of this (which is what kept me from posting for a couple weeks) because I had previously determined that I wouldn't try to start up any side business until I was out of debt.

A friend of mine challenged me not to limit myself from developing some side income which could pay off some debt. The wisdom of this advice is yet to be determined. I am having a load of fun, however!

Posted in Spending Money, Earning Money | 6 Comments »

6 Responses to “I may be crazy...”

  1. scottish girl Says:
    March 30th, 2006 at 08:27 am

    If it will help you pay off your debts I think you should do it.

  2. kristina moffitt Says:
    March 30th, 2006 at 08:52 am

    smart friend. paying off your debt is a goal, why not do it faster?

  3. outofdebt Says:
    March 30th, 2006 at 09:10 am

    It is just that it is hard to justify spending $400 when we're in debt on the HOPE that the $400 will multiply. I'm OK doing it, it just somehow "feels" wrong.

  4. contrary1 Says:
    March 30th, 2006 at 10:06 am

    I did the same thing with the $20.00 challenge here. Paying out money in the hopes it will begin to make money. I know the feeling.........just odd somehow! Especially when I keep reading here of the positive growth in others' challenge funds. Mind is growing, just the other direction still!

  5. Rod Says:
    March 30th, 2006 at 10:38 am

    The higher the risk the greater the reward!

  6. baselle Says:
    March 30th, 2006 at 09:44 pm

    You are paying the 400$ to develop yourself, not to line the pocket of Citibank. And you are going to learn something about yourself, right? That's an honorable, frugal use of time.

    I had similar thoughts when I started paying for a personal trainer. Its only a waste if you get nothing (including knowledge) out of it.

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