We’ve all been in that sticky situation where we need to raise money quickly. I know I have on more than one occasion. The cost of living seems to keep on rising, yet our wages aren’t going up at the same rate. It’s no wonder that many of us struggle to build up an adequate savings account. So, if you find yourself in the situation where you need to find funds fast, then you’re definitely not alone. But don’t despair, there are plenty of ways to make money when you need it fast.
If you can, then it’s always a good idea to build up an emergency fund. It may seem like an impossible task when you’ve got bills coming out all over the place, but even putting a little away each month is a good start. If your savings are completely dry, then you’re not alone. In fact, a quarter of British adults have no savings according to research carried out last year.
Ways to make money when you need it fast
First of all, don’t panic. When you desperately need to find money, it can automatically get your heart racing. Going into a panic won’t help! If you find yourself unable to pay your bills, then you need to take a deeper look at your finances and perhaps seek some outside help. If you need to find extra cash for an emergency like a broken boiler or a car repair bill, then read on.
These days, many of us have side hustles. A side hustle is something you do as well as your job to bring some extra money in. It could be online surveys, matched betting, a small craft business, reselling or something else. There are lots of options for making extra money online.
If you are thinking of taking on a side hustle then make sure you do your research before getting started. Although there are plenty of genuine ways to make money from home, there are also a fair few scams around too. As a general rule, anything that costs you money upfront should be avoided. You should also be wary of MLM schemes which promise to make you lots of money but very rarely do!
A short-term loan
If you need to find a big chunk of money quickly, then a short-term loan might be an option. If you have a poor credit rating, then bad credit loans might work for you. Make sure that you can meet the repayments without struggling too much as you don’t want to make your financial situation worse.
You would probably be amazed at the value of the things you’ve got stashed away around your house. Use free places to list your items. Facebook Marketplace is a great place to start, it’s free to list and you can reach thousands of people in your local area.
It’s a fact of life that financial emergencies happen. Many of us will need to find funds quickly at some point in our lives. Try one of these three tips to raise the funds you need, and you’ll soon be able to get the cash together. Do you have any other tips for making money when you need it fast?
*This is a collaborative post.