We’ve all had cash emergencies at some point in our lives. For some, it is just a quick cash-flow problem, when an employer takes longer than usual to pay them, or when they’ve had a particularly expensive month, for some, it is a more delicate situation, such as having no savings and losing your job, or getting a medical bill way above what you had planned for.
In any case, try to remain calm. Seeing your bank account with a negative balance is unpleasant, but the worst you can do is act emotionally, or do nothing at all. Overdrafts and credit cards have crazy high interest rates, so you need to try to find some cash elsewhere, so you can at least have a lower interest rate on your debt.
While you look hard for a way to get back on your feet, auto title loans and other types of quick loans can help you get some cash to cover your immediate expenses and bring your account in the green.
Next, you need to hustle hard to bring more money. One easy way to get hired quickly is to talk to your neighbors. Maybe they need their dog walked, their kitchen painted, their gutters cleaned… you’ll have to swallow your pride, but since they know you, they are more likely to give you a job than to a random person who would knock at their door. And asking for work is much better than asking friends and neighbors for a loan.
What skills do you have? What do you enjoy doing, or what do people say you are good at? If you are good at music, or sports, you can try to coach kids after school. If you are good at baking, you can set up a stall at the local market, or try selling your products to friends and family. Other skills that are easy to market include
- Fixing computers
- Changing oil on cars
- Basic car maintenance
- Knitting and mending clothes
- Taking care of old people
- Driving people
And the list goes on. Just try not to spend too much money in order to make money. Going to a summer concert or sports game with a cooler and selling bottled water can be a way of making money without investing too much. Buying 1,000 pairs of jeans on Amazon so you can sell them one by one for a profit is too risky if you are having cash-flow problems.
If these attempts don’t work, many companies hire in a day or two. They aren’t the best job, but a fast food will at least give you a meal after your shift, and in a restaurant you can manage to get tips. Your region may have seasonal jobs as well, fruit picking, harvests, a festival that needs organizing… whatever it is, look into the big events and try to get involved.
Last, if you have a cash-flow problem in the first place, that is probably because you are not living below your means. Try to reconsider every item you spend money on, and ask yourself whether the purchase is necessary or not. Saving money will help your weather the storm in case of another cash flow problem.