When faced with financial challenges, getting ENOUGH CASH and getting it QUICKLY are often the most important things to successfully overcome the challenge.
To bring money in fast, look around. Do you have extra stuff? That room full of boxes could bring in several hundred dollars in a yard sale. This is a no-cost, no-experience-necessary way to get quick cash.
If you have larger items, such as appliances, recreational vehicles, even a hot-tub, put them on your local Craig’s List and other free ads. It works like a virtual yard sale and the responses will be from people actually interested in your things.
If you have collectible items or artwork, consider selling or pawning them to raise funds. If they are family heirlooms with sentimental value, BE SURE you want to part with them before heading to the antique store or pawnshop.
You may decide to give up those extra vehicles or second home. The money raised, or payments eliminated, by selling these big ticket items can get you through the tough times now. Remember, there will always be houses and cars for sale in the future when your budget is ready.
Do you have a piggy-bank or coin jar? Get free wrappers at the bank then get the whole family involved to sort and wrap coins. You could find hundreds of dollars right under your nose. Watch for older coins that may be worth more.
Are you the person that family and friends ask to work on their car, their house projects, computers and electronics, or to watch their kids? Let them know you are trying to raise some funds and are doing side jobs for cash. Ask them to tell their friends and neighbors, too.
Get a roommate. If you have an extra room or unused basement, consider renting it out. This can bring in dollars within days, and more every month afterward.
Ask for a loan. Check your bank or credit union first; longtime customers often qualify quickly. Ask friends or family; treat it like an official loan with a written agreement and interest. An Internet search for “circle lending” shows several companies to be the third party and keep it all legitimate. CAREFULLY consider payday or auto title loans; many states are trying to tighten regulations on these companies for excessive interest rates and predatory practices.
Adjust your withholding amount. If you usually get a tax refund, you’re giving the government a free loan. Decrease the amount withheld from your paycheck and pocket the difference.
Stop driving; carpool to work or take public transportation to keep more cash in your wallet.
Cut out the extras:
Deluxe Cable/Movie Subscriptions
Yard/Pool Maintenance, House Cleaning, Laundry Services
Long Distance on your Home Phone use the cell phone or prepaid card
Restaurant Visits use what you have in the freezer and cupboards
Ask your insurance, cable, Internet, and phone providers to audit your accounts for a plan that could meet your needs and save you money.
Following these steps allows you to access cash quickly. The combination of bringing more money in and reducing what you spend can add up to significant savings over a short period of time and can help you through financial difficulties.