Many of us will find ourselves in a financially tight spot from time to time. No matter how well you plan your finances, there are always times when things do not exactly do to plan and you need to find access to cash quickly.
When that is the case, there are a number of things you can do to find the money you need in an emergency quickly, including the following:
Sell some stuff
It’s an obvious point, but if you need to find the cash fast, then selling some of your stuff can get you out of a tight spot. These days, with websites like Craigslist and websites that will instantly tell you who buys jewelry near you, it has never been easier to sell the things you don’t want the same day you list them, and doing so will not only help you with your financial emergency but also help you to declutter your home too.
Cash in gift cards
If you are someone who gets a lot of gift cards for birthdays and Christmas, chances are you have one or more of them lying around the house.
These may not seem useful if you need money to pay the vet’s bill or to have the car repaired, but actually, there are various online websites that allow you to sell unwanted gift cards, so actually, they could be just the thing to get you out of a tough financial situation.
Take on some freelance work
If you need money, then taking on an extra job might not seem like the fastest way to get it, but many freelancers will be paid daily for the work they do or can command a 60 percent deposit on work before they even get started.
So, looking for freelance writing opportunities online or walking a dog or two in your local area could really help you to access the money you need when you need it most.
Do surveys
There are various websites that will enable you to take surveys in order to earn money and other rewards as many of them will pay out extremely quickly, which is why it is worth considering signing up for a few of them if you need a small injection of cash.
They are not often good for people who need significant sums of money quickly, but if you want to build up some extra spending money, they are useful for that too.
Speak to your utility companies
Speaking to utility companies and the people who you have credit card debts with can often help you to find some extra money fast. How does this work?
Often, if you tell them that you are in financial difficulties, they can suspend or delay a payment for a little while. So you can use the money you would have used paying the bills on dealing with the emergency situation you have found yourself in.
Obviously, you will need to make up this amount at a later date, so you should only take this route if you know that you will have the money to pay everything back in the next month or so. It’s far from an ideal way of finding extra money, but it can be useful if you have a few other options.
Use your retirement account
Many people do not know that you can often take a loan from your retirement fund if you really need to do so.
You are only able to borrow money from your IRA once in a tax year, so this is something you should consider very carefully before doing, but if you are in a really tight spot and you really need an injection of cash, then it can be a good way to do so, and since you can borrow as much as 50 percent of your account balance, this is often the best way to find a large cash injection fast.
As you can see, when you need money in an emergency, there are lots of avenues you can explore, although it has to be said that building up a strong emergency fund would be sensible going forward.
When you have an emergency fund available to you, then you always have the peace of mind that comes with knowing you can cover any unexpected costs and that is something that is so important. So, even if you do the above to make money right now, start thinking about the future and start saving for your very own emergency fund right now.
