So what are some ways you can start making money in your spare time?

- Take on a hobby that you can translate into dollars. Can you walk a neighborhood dog? Teach basket weaving? Host a dining room? Baby-sit for your sister's kids? Do Computer graphics? Consider which of your talents might be worth a few extra bucks and then go out there and do it.

- Take on a part-time job. The holidays are soon coming up, and many people supplement their salaries with part-time retail jobs. Just don't spend it all on holiday gifts and be sure to bank it into your savings.

- Spend more wisely. We all have our own ways of wasting money. Now see how you can eliminate the ones that you wouldn't miss. Just saving the dollar you would normally spend on that cup of coffee each day adds up.

- Borrow from a trusted friend or relative. The interest rate is low to nil, the cash is quick, but guilt is even higher. Be sure you have a plan for how you're going to pay back the loan even before you approach them.

Utilize the Internet

If you have any of these skills, you can utilize the internet to find potential clients. For example, lets say that you are a talented business writer. You can go to Elance or Guru (www.elance.com or www.guru.com) and look for jobs that people post that involve business writing. Trust me they are there.

You can create a small website about your talent and how you have chosen to monetize that talent. Have your contact information on that site so people can reach you. Advertise your business and website in your community with fliers or post cards. You can pay a little neighborhood kid $25 to pass out the postcards to all of the doorsteps.

Another really great site to find interesting jobs and demand for skills you might have is Craigslist. This site is great because you really have the ability to find any job to create an extra income.

Maybe you know a friend who could use extra help with their business. Not only would this be a great time to learn about business and how to manage personal finance, but you will strengthen your friendship.

If you get a little creative, you will be able to find something that you excel at and use that talent to help other people for a price. It is very easy to then use this money to pay down your debt.

Who knows you might be onto your very own business that one day you can take full time. Wealth creation is a very important topic that we will not cover in to much detail but will at least get you started on that path.