Life can be stressful when you are tight on money and an emergency comes up. Click here for some things to do if you need emergency cash.
Did you know that 4 out of 5 Americans live paycheck to paycheck? Even 10% of Americans who make $100,000 or more live check to check.
Many of those people express how scary it is, wondering each month if they’ll have enough to put food on the table.
There comes a time in everyone’s life when they need cash, and they need it fast. If that time is now for you, don’t panic.
You’re not alone. And there are ways to get by if you need emergency cash.
Life is stressful, especially when money is tight. This guide will provide you with 9 different things to do if you need emergency money.
1. Collect Any Debts
If anyone should understand needing money, it’s someone who you’ve loaned money to in the past.
If you’re wondering how to get emergency money, 1 great way to do it is to call everyone who owes you money.
You can even make it easier for that person by offering to take 75% of what they owe if they can give it to you right away. If they don’t have the cash, tell them you’ll take anything of value. That way, you can sell it on your own and get the money that way.
2. Borrow Money
Most people have people or at least one person they can call when they need to borrow some money.
If you haven’t exhausted all your sources, don’t hesitate to ask for help. The worst that someone can say is “no.” And if that happens, ask someone else.
If they’re hesitant, tell them your plan of how you’ll pay them back. For example, if you borrow $300, tell them you’ll pay them $100 a month for the next 3 months. Just make sure you don’t make promises you can’t keep.
3. Sell Your Jewelry
The chances are that if there’s any jewelry you have that’s worth something, it probably also has sentimental value.
But putting food on the table is more important. So if you have anything you can bear to part with, needing emergency cash is the perfect reason to do so.
Look for silver and gold in other items in your home too. It doesn’t have to come from jewelry, as long as it’s a precious metal or stone.
4. Have Someone Close to You Use Your Credit Card
Is your sister planning to get groceries for a month this weekend? Did you hear your friend talking about the new coffee table she was planning to buy?
Offer to put something on your credit card for a friend or family member who can give you the cash in return.
If you’re really desperate, you can even offer them a 10% discount. You’ll end up paying for part of their purchase, but if you really need that cash, it’s worth it.
5. Sell Your Clothes and Stuff
Do you have an awesome leather jacket you haven’t worn in years? Or do you have bags of clothes you’ve meant to get rid of?
Sell them! Don’t go to a consignment shop as you might wait weeks or months to get the money from your clothes. Go to a vintage or used clothing shop that buys used clothes on the regular.
Do you have any electronics that you never use, in good condition? Take a look around your home and see if there’s anything you don’t use or want to sell. $5 here and $20 there adds up faster than you think.
6. Sell Your Future Labor
Have you ever watched your neighbor’s dog or mowed your friends’ lawn? If there’s anyone you’ve ever done an odd job for, offer to do it again.
And if they don’t need it now, offer it to them at half the price if they pay you now. For example, if you watched your friend’s dog for a week for $200 in the past, offer to owe him for a week of dog-sitting if he gives you $100 today.
7. Drop Your Cans, Coins, and Bottles
Gather up all the cans and bottles you can get your hands on. Offer to pick them up from friends or family.
Then take them all to your local grocery store, WITH your loose change. Drop all that change into the machine and get dollars in return. Or roll it up and take it to the bank that won’t take a cut.
8. Work for a Few Hours
Get on a site like Task Rabbit, which offers tons of temporary, local jobs.
For instance, someone might need help painting a wall or walking their dog while they’re at work.
9. Get a Loan
There are many services that offer instant financial assistance, even for those who don’t have the best credit.
While you’ll still owe that money, and it’ll come with an interest rate, sometimes it’s the only way to get that emergency money that you can’t live without.
Take Action If You Need Emergency Cash
When you need emergency cash, it can be overwhelming and fill you with stress and anxiety. But don’t panic!
There are many ways to earn or borrow a quick buck. Plus, most Americans deal with the same issue on a regular basis, so you aren’t alone.
If you opt to see your clothes, jewelry, or other stuff in your home, you might be surprised by how much you realize you have that you don’t need. And if you have to pawn something you love, you can always buy it back.
If anyone has ever borrowed from you in the past, try to get them to pay you back first. That way you’ll get the cash you need, without owing anyone a dime!
Has being strapped for cash made you realize you need to address your stress and anxiety? Take a look at our books recommendations, and in particular, the self-help archives.
You might just find what you’re looking for!
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