Feeling broke is one of the worst experiences you can go through. But you are not alone. The average person in the country has a debt of $6,200, and paying it off is not easy.
If you’re drowning in debt, need to get back on your feet, and want some breathing room, you’re probably wondering what to do when you need money. Fortunately, you can make money anywhere, anytime with the right research and planning.
Not sure where to start? Here are some things you should try!
- Find Freelance Work
If you have an iPad or laptop, look for freelance jobs on Upwork, Freelancer.com, or sign up on Fiverr. There are a variety of jobs available online, from tutoring to virtual assistant. You can control your workload and schedule, so it’s a great option for what to do when you need money.
Freelance jobs can be full-time or part-time. Some jobs may be difficult to get if you don’t have experience or degrees. However, once you get a job, you will receive a fixed salary and can work from the comfort of your own home.
- Sell things you no longer need
If you have things like clothes or cell phones that you no longer use, you can sell them online or hold a garage sale. Consider selling your furniture and appliances, as there are many second-hand enthusiasts for these things. If you really need money, sell your car or part of your land, as these are temporary assets that are best liquidated. - Do some odd jobs
Go around the neighborhood and ask if they need help doing something they hate to do. Busy people or those who don’t have the knowledge to do certain things quickly will jump at the opportunity. You can offer your services for odd jobs such as walking the dog, cleaning the yard, or painting.
One advantage of taking on odd jobs is that they never take too long and are a great way to expand your network of contacts. However, keep in mind that there is no fixed salary, so it is difficult to start planning a budget. Spread flyers around your area or advertise online to let people know you are available.
- Pawn or sell your valuables
Pawning means giving a valuable item as collateral to borrow money. The pawnbroker will return your valuables once you pay off the amount. This option can earn you some money, but remember that these valuables will be sold if you cannot pay.
Alternatively, you can simply sell your valuables at pawn shops. You walk away with cash in hand and no other obligations. Some of the best items to sell or pawn are tablets, power tools, precious stones, firearms, and antiques.
- Get a loan
This option should be your last resort if the others have not worked out. Loans are great if you need emergency cash fast. However, make sure you have a plan to pay it back on time.
Taking out a loan depends on whether it is a personal loan, a payroll loan, or a mortgage loan.
Loans are the best option if you need money fast and can afford to save. Get a payroll loan at bonsaifinance.com and pay off the loans you have taken out as quickly as possible.
What to do when you need money
Think carefully about how you got into this situation, such as overspending or having a low income. It is important to address the problem, start planning, and make a budget to solve it and prevent it!
Thank you for reading! Did you learn from our article on what to do when you need money? If so, take the time to read some more of our helpful articles!