Living paycheck to paycheck is never easy, but many people do it at one time or another. While living paycheck to paycheck is generally manageable, there is always the risk that an unforeseen event can happen that requires immediate cash you simply don’t have. For example, you could be a week away from payday and suffer an emergency or car troubles that you need to address.
So what are you to do in that situation? Well, the only thing you can do is either wait until your next payday — or get creative. However, this is often easier said than done. With that in mind, here are four ways to get some quick money if you need it before your next payday.
Ask Family and Friends
You’re first alternative should always consider reaching out to family and friends. If you only need a small amount of money and are generally a trustworthy person, then there is a good chance that your family or friends might be able to help you out.
Family and friends likely won’t charge you interest and will be able to get the money to you almost immediately. However, it’s important to ensure this doesn’t become a habit, as they are not your bank.
Of course, you want to make sure you actually pay them back in a reasonable amount of time, as you don’t want to put any strain on your relationship, or take advantage of anyone.
Get a Paycheck Advance
If your family and friends aren’t able to help, then you might want to look at getting some short term cash in the form of a paycheck advance. These are quick cash loans that are meant to hold you over until your next pay day.
The payback period for these is generally around a month, so it is not as long as commitment or ordeal compared to other loans — however, the interest rates are quite high compared to other loan options, so it’s important to ensure the interest rate and other terms are fair before choosing this option.
Sell Some Of Your Stuff
If you’re like most people in developed nations, there’s a good chance that you have way too much stuff in your house, most of it probably collecting dust or serving as a paper weight. So instead of letting your home continue to reach a level of clutter that would make a hoarder proud, why not sell some things? Having a garage sale or posting some items on craigslist or another classifieds site are two great ways to declutter, while making some much-needed cash at the same time.
“Flip” Some Items
If you don’t have many items in your home or apartment to sell, don’t worry — there are still options for you. One that has been gaining steam in recent years is “flipping.” Flipping involves purchasing items of any kind at a discount, fixing them up, and reselling them for a profit.
While many people flip homes, there are no limits to what you can and cannot flip. Electronics, furniture, TV, and cars are just some of the things that people resell for profit. With only a few hours of work, you can make quite a bit of money. Also, many online classifieds sites have a “free” section with some stuff you can easily fix up and sell.
Hopefully these four methods can help you earn some money quickly, when you need it most. And while these aren’t the only four options out there, they are among some of the best.
Photo Credits: stock photos
I would argue strongly that payday loans should never be an option. The interest rates are extortionate and can quickly lead to a spiralling in debt. Please follow all other options other than payday loans!
Selling your stuff is a great idea to solve the immediate problem. If you are frequently short of money at the end of the week or month, you have a solvable problem. Flipping stuff as mentioned above is a great idea. Drive through any well off suburb on trash day and you can get loads of free stuff, often in excellent shape or needing minor repairs, off the curb. Or get a part time job. This is great because it earns cash and keeps you from wasting time shopping and spending for things you don’t need. CUT YOUR SPENDING. That means cut the cable, dump your expensive phone for a Trac Phone, stop buying clothing except at yard sales or Goodwill, bag your lunch. Follow the new trend just mentioned in yesterday’s NYTimes (It was one of my five free articles, I don’t PAY to read the Times, I can read it at the library for free if I’m desperate, usually reading the headline is enough to grasp the content!) which was about a trend called something like (Forgotten exact title.) “FIRE” where millennials with high paying jobs are retiring with a million dollars after fifteen years by saving 70% of their take home and scrimping and saving, not buying a house in an expensive area, and then retiring at around 43-45 to a low cost part of the country where they pay peanuts for a nice house and never work again. IF YOU ALWAYS HAVE MORE MONTH / WEEK THAN MONEY, you are spending too much and not earning enough. Learn to cut expenses and work in your spare time to earn extra cash. Go to the archives here and read those inspiring stores about living on $40,000. a year or less.
I advocate for the third and fourth ones. With the former, you can make money fast and free some space in your home at the same time.
Here we can see clearly that the major advantage of going for an automatic cashback deal is that the customer does not have to keep sending in their bills on time.
That is not true, Hamza. Where did you ever get that idea?