Most people themselves in a financial jam from time to time, but not everyone knows what to do when it happens!
The initial reaction is a sense of panic or desperation. But at some point, logic steps in and reminds those who are short on cash to take action and turn things around.
If you’re in need of money fast and you’re not sure what action is best, don’t worry. Take a deep breath and keep reading.
Here are nine things you can do if you’re desperate for money.
- 1 1. Pawn Something You Own:
- 2 2. Go Through Your Closet:
- 3 3. Do Odd Jobs:
- 4 4. Pick Up a Side Job:
- 5 5. Sell Unused Gift Cards:
- 6 6. Get a Cash Advance:
- 7 7. Try Peer to Peer Lending:
- 8 8. Borrow Money From a Friend or Family Member:
- 9 9. Take Advantage of All the Free Services You Can:
1. Pawn Something You Own:
Maybe you don’t have too much money in your bank account right now, but chances are you have plenty of things you can sell for quick cash. The real issue comes down to what you’re willing to part ways with and how much you can get for the things you pawn.
Take a moment to consider all the electronics you don’t use anymore and the jewelry you never wear. See if there are any pieces of furniture around your home that are in good condition but that you wouldn’t mind not having.
It’s not like you have to turn in every single thing of value you own. A few personal sacrifices can go a long way, though.
2. Go Through Your Closet:
Instead of pawning one or two things of value, consider getting rid of a lot of things of average value–like a bag of old clothes. There are tons of consignment shops and thrift stores that are willing to purchase the old clothes you rarely ever wear.
The thing is, your clothes have to be in good condition, and you shouldn’t expect to get the same amount money back as what you paid. Still, one bag of clothes can become the money you need to do groceries for the week or get enough gas to get to work.
3. Do Odd Jobs:
Another option you have to make quick money when you’re short on cash is to do odd jobs. This can be especially profitable if you just got laid off.
As weird as it may sound, just take a second to think about all the odd jobs you can do in one day. You could run errands for people who are too busy to do them themselves–like walk their dogs or pick up their dry cleaning. You could babysit, mow peoples’ yards, or even take out their trash.
There are plenty of things that people will pay others to do if it means not having to worry about it themselves! The trick is to get out of your comfort zone and swallow your pride a bit if you want these odd jobs to help you pay your bills.
4. Pick Up a Side Job:
You could do a lot of random odd jobs or you could pick up one side job in addition to the work you already do. This will take up all of your time. It will make you tired and a bit restless, but it will also help make ends meet.
It’s worth it, and, it could be more fun than you think!
A side job could be anything from bartending at night to being a coffee shop barista in the mornings. It could mean you become a waitress or waiter or that you wash dishes in the back of a restaurant, too.
5. Sell Unused Gift Cards:
Here’s an interesting thought: you may have more money available to you than you think. It just may not be in the form you need it. If you have a bunch of gift cards to clothing stores and online shops, sell them.
This can give you the cash in hand you need for more important things like groceries, rent, and gas. It’s a simple, stress-free way to make money in a short amount of time.
6. Get a Cash Advance:
Getting a cash advance isn’t the best idea on this list if your credit is already really bad. But, it could help you if you’re in a financial jam for the first time and you have a plan to get out of it.
Cash advances give you access to money from your credit card. Instead of using your credit card to pay for things, a cash advance gives you cash to do whatever you need to do.
Keep in mind the interest on this charge may be higher than your card’s regular level of interest. Most cash advances also apply an added fee to the transactions.
If you’re looking for a better alternative, try searching for payday loans online no credit check instant approval. These will work similar to a cash advance in the sense that you’ll get the money you need in a short amount of time, but, you won’t have to worry about charging even more to an already steep credit card statement.
7. Try Peer to Peer Lending:
Still looking for options? Consider peer to peer lending!
This is a solution most people don’t even know about when they’re desperate for cash. It works kind of like a personal loan from a bank, but it’s more flexible.
To get funds from peer to peer lending, you have to find a group lending platform and apply as a borrower. Then, a lender will decide whether or not to give you their own money for a set interest rate. You then create an agreement with this lender for the amount you’re going to borrow and how you’re going to pay it back.
8. Borrow Money From a Friend or Family Member:
If you’re considering peer to peer lending, you may as well borrow money from a friend or family member. There’s no shame in doing this from time to time. Your loved ones want to see you succeed, and they’re usually willing to help you get out of a jam.
It’s not a gesture to abuse, though. You shouldn’t assume that borrowing from loved ones is a safety net that will always be there. But, it is one you can rely on when something unexpected comes up that you have to figure out how to pay for.
9. Take Advantage of All the Free Services You Can:
Sometimes, the best way to make money is to save more of it. If you find yourself feeling desperate for more money, be careful about how you spend the money you do have.
Take advantage of every free service you can–from food stamps to public transportation to doing laundry at your parent’s house. These may change your way of life for a bit and require extra planning during your day to day routine. But, it can do wonders for your personal finances.
How to Never Feel Desperate for Money Again:
It’s one thing to figure out how to make money fast when you’re desperate for money, and another to establish such a good relationship with money that you never find yourself in such a place again.
This is 100% possible if you put your mind to it.
You don’t have to be filthy rich to be financially secure. You just have to figure out better ways to make, save, and spend your money. You can turn a little bit into a lot if you know how to best make use of it.
It takes time and effort. You’ll have to change a lot of your spending habits and overcome a few fears about money, too. But, you’ll come out the other end in a much better place.
Here are some tools to help you figure out how to become financially secure.