When someone asks me how they are supposed to get out of debt or get ahead financially, I give them several helpful tips including one that I think is underrated and often forgotten…Give Blood/Plasma.
I live about eight miles from a facility that pays around $25 every time I donate blood. Following the rules and regulations I can give blood twice a week without posing any danger to myself. (Side Note: It is very important not to give blood too often because you can do serious damage to your body and even die from it so please follow the guidelines of your blood donation center.)
Giving blood or plasma twice a week would yield $50/week to put towards getting out of debt or increasing assets. A maxed-out credit card with a $500 limit (+ interest) would be paid off in just over 9 weeks. A $50 weekly bill pay towards the principal of a car note would help pay off the vehicle sooner and help reduce total interest payments. Thinking of investing in stocks? Deposit that $50 into a brokerage account, like Scottrade.com or TradeKing.com, each week until you’ve accumulated the total amount you wish to invest. You’ve just purchased an asset without going into debt to do so.
We are all familiar with the economic impact of a bread-winner dying. What if you gave blood, saved a bread-winner and therefore kept a family out of debt and above the poverty line? Imagine a child dying from loss of blood.
Not only is this emotionally traumatic, it affects work performance which then affects one’s wallet.
Giving blood not only saves physical lives but boosts the global economy as well. I challenge you to search for the blood donation centers near you. Ask if they offer payment for donations. Give blood/plasma, save lives & get out of debt!
What about you, SavvyReader? Have you ever giving blood/plasma as a way to help others and/or increase your income?