With economic uncertainty around the world, many people are discovering significant changes to their income. With bills to pay and unexpected costs, it makes sense that you may need a helping hand from time to time. However, not everyone knows how to access cash in a hurry.
The following money-making measures may just be able to tide you over until payday.
1. Fast Online Loans
If you need an income boost on short notice, accessing a short-term loan may be the way to achieve it. With this loan option, money is quickly placed into your bank account when you need it the most. You can then repay it once payday arrives.
These loans are fast, easy to apply for online, and often have transparent and manageable repayment terms. The best part is that reputable payday lenders are usually flexible with how and when you pay back your loans.
If you know you can pay the loan off in full by next payday, this may be an option for you. However, if a short-term loan is only going to add to an ongoing debt problem, it’s best to avoid these loans.
2. Sell Possessions
Look around your property with a critical eye. You may spot several valuable possessions you don’t use, but other people would. Even that wrecked car sitting in your garage could be worth something to the right people.
The digital age has made it easier than ever to quickly sell possessions for money. There are many online sales websites, but you can even utilize social media, which costs nothing. Before long, you can have much-needed money sitting in your bank account.
3. Rent Out A Room
If you have a spare room in your home that you’re not using, consider turning it into a form of income. Taking in a roommate often requires no more than your space and may help you out of a tricky financial position.
Consider putting feelers out to friends and family who may know someone looking for a place to live. You can also advertise on many online platforms to find just the right person for your family dynamic.
4. Get A Side Job
If your primary income source is not proving to be enough to cover everyday costs, consider picking up a side job. You may like to opt for a seasonal job that doesn’t take up your entire year or something more flexible like an online job.
Online jobs come in many shapes and forms. Businesses around the world are always looking for virtual assistants or people with skills in graphic design, writing, and website design. If you have a desirable skill, consider whether you could make money with it online.
There are also plenty of other options available, such as driving for a rideshare service or a delivery service. You can be on the clock during your free time, and it doesn’t have to impact your full-time job.
You may even be able to make quick cash by house and pet sitting for people, walking dogs, feeding cats, and babysitting. You may be surprised at just how many job opportunities exist with full flexibility that could offer that quick cash you need.
Some of the top ways to make income on the side are:
- Fiverr (freelancer website for graphic design artists, writers, and other office workers)
- Tidy (sign up as a house cleaner to clean in your spare time)
- Shipt (grocery delivery service)
- GrubHub (food delivery)
- DoorDash (delivery service)
- VIP Kid (tutor kids online)
5. Set Up A Budget
Sometimes, you can find money to pay your bills by merely being more careful with your income. Budgeting is a learned skill, but plenty of free resources are available to help you manage your money more effectively.
Look at your income versus your outgoings and highlight any ‘luxury’ items you could do without. Even something as simple as skipping your daily café latte or canceling your Netflix subscription may save you more money than you first thought.
6. Downsize Assets
As much as it might pain you to say goodbye to your prized assets, it can be for a good cause. Make extra cash fast by downsizing or downgrading possessions. Everything from properties to furniture and vehicles can fall into this category.
For example, you might own a late model SUV with all the luxury comforts you could ever desire. With a need for money, you may see the value in selling it or trading it in for an older or less desirable model to offer much-needed cash in hand.
If you live in a home that’s already proving to be more than you need, the requirement for cash could mean it’s time for you to trade down for something smaller.
7. Sell Free Stuff
A quick search online will reveal plenty of items being given away for free, simply so the owner doesn’t have to deal with the hassle of them anymore. Browse social media marketplaces and Craigslist, and you may be surprised at what you can find.
If you can pick up a few items for free and tidy them up, you may then be able to sell them to someone else for a tidy profit with minimal effort.
Sites like Mercari are great for selling items to make extra money!
8. Ask Friends And Family
While it’s not always the best idea to ask friends and family for cash loans, it can sometimes be one of the few options left. Even though it may not be your first choice, there are ways to reduce the risk of awkwardness or relationship breakdowns in the future.
Structure your request in a way that makes it clear what you’re asking for. Write everything down in a formal agreement, such as the date you borrowed money, how much you borrowed, and what your repayment terms will look like.
You may even see the value in including an interest component if it means the family member or friend you’re borrowing from will be more agreeable to the idea. Have both parties sign the document so there can be no confusion over what the terms of your loan include.
9. Do Online Surveys
Businesses and corporations around the world pay companies to carry out surveys of their target market. They want to know how often you buy the types of products they sell, whether their brand is recognizable to you, and what you would change if you could.
Such information can be incredibly valuable to a company, which is why some of the money they pay survey companies trickles down to those taking the surveys. While there isn’t big money in taking surveys, there can be a small amount to cover a few essentials your regular income typically may not stretch to.
Popular survey sites to make extra money:
10. Turn Hobbies Into Income
You might knit, paint, or create pottery as something to do, but there’s no harm in seeing if what you’re making for fun could actually make you money. Put some feelers out onto social media platforms with some of your creations to see if there’s any demand.
There may be a small outlay for materials, but if there’s enough interest in what you’re doing, you may find that your profit margin is enough to allow for new materials and extra funds for a rainy day.
11. Give Plasma
As morbid as it might seem to sell your blood, it can be a valid way to make money and help someone in need. Depending on where you are and what your blood type is, you may be able to receive compensation for donating the plasma from your blood.
Each state is different in what they offer, so it’s worth doing your homework to find out what’s available for you. Many blood donation centers provide incentives for plasma, such as gift cards and coupons. However, not everyone will be eligible to give plasma or blood. If you’ve considered this kind gesture in the past, contact your local donation center to find out more.
Whether COVID-19 has wreaked havoc on your income or you’re facing unexpected bills, it’s essential to know how to come up with extra revenue. Take note of these tips above and see if any of them could be the answer to your money woes.