Are you the type that tends to live paycheck to paycheck, always having enough to pay the bills but not much in terms of extra cash? If so, you aren’t alone. According to statistics, an incredible 78% of Americans live paycheck to paycheck, with that number going up to 81% among women. What this means is that if any unexpected expense or bill pops up, it will not only cause a lot of stress, but it can leave people struggling to come up with the cash.
If you’ve found yourself in a position where you have an unexpected expense and no way to pay for it, these four tips could help you to come up with the cash you need.
Sell Off Some Belongings
One of the quickest ways to make some cash is to sell off your belongings. Obviously, it has to be something of value, and you also want to get as much as possible for that item. Electronics and jewelry tend to be the quickest items that you can sell off, and they will get you the most bang for your buck. You can even visit services/stores that will buy the items off you right away so you don’t have to spend time searching for a buyer on your own.
Take, for example, Speedy Diamond, ideal for anyone who has a piece of diamond jewelry to sell. You can sell a ring quickly and easily and have the cash in your pocket and ready to pay for that unexpected expense. No stress at all.
Get an Extension on Your Credit Card
If you happen to own a credit card, you may be able to get an increase on your credit limit. This may be enough to pay for that bill and then you can pay it off as you have the available money. Now obviously the interest rate on credit cards is quite high, so it can be wise to create a payment plan for yourself so you can pay it down as fast as possible and avoid incurring too much in interest.
Apply for a Bank Loan
Sometimes that unexpected expense can be extremely high and a simple credit increase or selling off a few items just won’t cut it. For those cases, you may want to speak to your bank and enquire about a bank loan or a line of credit. If you have a good credit rating, and have some sort of collateral, you will be seen in a more favorable light.
Get a Side Job
No-one wants to have to think about getting a second job or a side job, but sometimes that is the only solution. Even if it’s just for a temporary basis so you can come up with enough cash, it may be necessary. Look for part-time work, brainstorm if there is any freelance or contract work you can do from your home, and look for simple things that don’t require a massive amount of time.
There Is a Solution
The important thing to remember when you find yourself in this situation is that there is a solution. There is a way to find money, and there is a light at the end of that tunnel.