One glance at the news and the economic picture shows trouble looming ahead. Inflation rates are rising, energy bills are soaring, and you never know if a recession is right around the corner.
Now is an excellent time to build a financial cushion, but getting the cash together is a challenge when you’ve got a mortgage and bills to cover.
But there are a few ways to generate some fast cash for your bank account. Here are five unconventional but straightforward methods to get quick cash when you need it.
1. Have a Yard Sale
Most of us own furniture and ornaments that gather dust in the garage or take up space in our home. Well, now you have the opportunity to get some extra money in a day by having a thorough clear-out.
Audit your house room by room and note anything that you don’t need that’s still in reasonable condition. Do any necessary repairs and give each item a good polish and clean to look as good as new.
Next, it’s time to host a yard sale or post your items on eBay. But make sure you get any old items valued first – you might own a valuable antique or collectible!
2. Advertise Your Services
Do you have a talent that you can use to earn money from home? Perhaps you love animals. How about offering dog walking services in your neighborhood?
Or maybe you are green-fingered, in which case it’s worth advertising some weekend gardening services in your local area.
Other good side hustles include cat sitting, babysitting, and delivery driver. You could also sign up as an Uber driver for some extra cash.
3. Rent Your Spare Room
Are you lucky enough to possess a spare room in your house? Like most of us, you probably use that for storage.
But if you followed the suggestions in tip #1, you can convert this room into a guest bedroom after you’ve cleared out all your unwanted clutter. After you do that, you have two choices.
You can rent it out on a semi-permanent basis to a lodger. Or you can advertise it on Airbnb.
4. Sell Your Unwanted Giftcards
Do you have a relative who always gives you a birthday gift card for a shop you don’t use?
You can sell these gift cards to a 3rd party, such as Cardpool Kiosks, where you can exchange them for cash. It’s an easy way to get some emergency money.
5. Sell an Existing Life Insurance Policy
Are you over 55? Here’s a quick and easy idea that might surprise you. You can sell an existing life insurance policy for cash. A life insurance policy is something you own, an asset, and yours to sell.
There are specialist businesses that buy life insurance policies, and they’ll offer you a cash sum based on how much they think it’s worth. Here’s how to figure out how much yours is worth: sell life insurance policy calculator.
Five Ways to Get Quick Cash
Don’t despair over money worries. Money help is always around the corner; it needs only a little creative thinking first. So use these five tips to get quick cash and help you out of that financial hole or upcoming bill.
And remember that you can find many other helpful money-saving tips in our finance section.