Are you currently struggling financially? How can you possibly get out of your situation? I have known quite a few people that have found themselves in this type of situation. Some of them were wise with money and some were not, but because of life’s twists and turns, each of them had a point in their lives where they were strapped for cash. So what did they do to rid themselves of this daunting financial struggle?
Sell Whatever You Can
If you have lived on this earth for more than 10 years, I guarantee that you have stuff you can sell. Take a look around your house right now from where you’re sitting. Those little knick-knacks, that chair you never sit in, some of your books that you’ll most likely never read again. People will buy these things from you! If you are really in trouble financially, don’t be afraid to sell some of the stuff you might actually use, but could do without. How about that expensive coffee maker? You could do without that for a few months. How about that snow-blower? Sure, it’s handy, but you own a shovel that could do the job too. Plus, that snow-blower could easily sell for a couple hundred bucks, which would keep you surviving. If you don’t need it to live and you’re in a tight financial situation, just sell it. You’ll be glad you did, and you’d be surprised on how few things you need to live.
Minimize Your Borrowing
Do you currently have a car that you’re making payments on? You might not realize it, but that car is one of your biggest problems when it comes to your monthly cash flow. You might want to debate me on this, but really think about it. How much does it cost you in payments each month? $300? And since you borrowed money to buy it you most likely have to fully insure it, which costs you another $150 a month (at least). That’s $450 a month that you’re tied to paying out each month, which is most likely more than 10% of your monthly earnings. That’s a pretty huge chunk! If you could sell your car for more than what you owe, I would suggest that you sell it and buy a decent running beater car for a while. With an extra $400 a month or so, you could get out of your financial problems pretty quickly.
Borrow From Peter to Pay Paul
If you are truly desperate for some cash, perhaps you’ll just have to borrow it to survive the next week or two (consider cashwindow.co.uk as an option), but be sure to have a plan in place for how you’re going to pay back your quick cash loan. Let’s say you absolutely need $200 today so you get a cash loan for a week. If you get paid next week, be sure that you’ll have that $200 as well as some extra for your other bills, food, and minor emergencies.