There will always be unexpected events that might put you in a financial bind.
Let’s say you’re driving down the road, humming along to the radio, when your tire blows out. After everything was said and done, the total cost was $150.
Or maybe you arrived home one day to find water seeping from the storage area, indicating that the hot water tank needs to be repaired. Another unexpected cost, but this time it’s $500.
Are you able to relate?
When these things happen to us, we must figure out a way to compensate for them.
An emergency fund should always be your first line of defense in the case of a financial disaster. However, if you don’t have one, you should build one right away.
How to Get Yourself Out of a Financial Pickle
When you’re in a financial crunch, here are several options for getting money fast.
1. Get rid of whatever you don’t need.
There are probably a lot of things in your home that you don’t need, and you’re not even aware of them.
Open every cabinet, drawer, closet, storage space, and so on to see what you might sell to get the funds you need.
I’ve sold a variety of products, including mobile phones, furniture, and bicycles, to mention a few. If you properly advertise your goods, they should be able to sell quickly on Craigslist.
2. Take part in online polls
Do you find yourself wasting time on the internet when you might be doing something more productive? Taking online surveys is a simple way to supplement your income outside of the usual 9-5.
You may complete surveys at any time, whether you’re in a waiting room or on your way to work on public transit. Check out Survey Junkie, which will deposit money into your account after you have gathered $10.
3. Dispose of old textbooks
There are locations in your area where you may sell your old textbooks, but make sure you receive the most money possible.
Bookscouter, for example, will allow you to browse 40 merchants that purchase books and choose the one that pays you the most (see screenshot below).
The greatest aspect is that they will pay you over PayPal, so you won’t have to wait long.
4. book pricing. Perform Tasks for $5
Check out Fiverr.com if you have a talent that others are willing to pay you for. It’s a website where you may get $5 for your services.
If you are a graphic designer, for example, you can create anything for $5. If you like writing, it’s a terrific way to supplement your income on a regular basis.
5. Make Your Plasma Available for Purchase
I was listening on the radio the other day when I heard an advertisement for this. Some businesses are reportedly willing to pay up to $300 per month for your plasma. I’ve never done this before, so I can’t vouch for it.
If you do wind up trying this, please write me an email and tell me how it went.
6. Arbitrage: The practice of buying at a lower price and selling at a higher price.
Every couple of weeks, I’ll go to a few yard sales in search of stuff at a significant discount that I can resell quickly for a profit.
This is akin to retail arbitrage, in which you purchase products from a retailer at a lower price and then sell them for a higher price.
I just purchased a brand new Band of Brothers/The Pacific DVD combo for $10 and soon sold it for $45 online.
7. Make items with the intention of selling them.
Have you heard of Etsy before? It is a website where you can sell handcrafted things, and there is a vast community of individuals that use the site on a daily basis.
If you are talented at creating things, this might be an excellent alternative for you.
8. Help Others with Tasks
People don’t like or don’t want to do a lot of tasks, like mowing the lawn or walking the dog.
Begin by asking your friends and relatives if they have any jobs that need to be completed and for which they would be willing to pay cash.
If it doesn’t work, try Task Rabbit, which lists various chores that may be completed in your region.
In conclusion, there are several options available to help you get out of a financial jam. Choose the option that is most convenient for you and your schedule.