Need To Raise Money Quickly? Make The Most Of What You Have

It can happen to anyone, at any time. From seemingly nowhere, you’re presented with a scenario where the only thing that’ll allow you to move forward, is cash. Your boiler might have broken, or you might need some cash to attend your best friend’s wedding. Whatever it is, it’ll require more than just living frugally for a few weeks: you’ll need to find a way to raise as much money as possible, and quickly. While this sounds easier said than done, the truth is that you probably have more money than you realize: it’s just tied up in other things, such as your belongings, home, or even yourself. Here’s how to free the inner cash so you can put it to good use. 

Cupboards, Drawers, Wardrobes

One man’s junk is another man’s gold, or so they say. You probably have much more valuable “junk” in your home than you think, especially if you’re a person who always likes to have the latest technology. If you upgrade your iPhone each year, dig out the old versions: they hold their value remarkably well, so even ones that are several years old should fetch a pretty penny. Also, don’t assume that just because an electrical item has a fault – or indeed, isn’t working – that it’ll be worthless: it’s not. 

Sell the Assets

In some places, you simply need to have a car if you want to feel a part of the world. In others, it’s a luxury. If you live in an urban area with good transport links, then look at your selling your car to the highest bidder. Auctions are an excellent way to sell your vehicle, as you can set a reserve and, once it’s sold, you’ll get your money quickly. It’s better than putting an ad in the paper and hoping that eventually, someone will make an offer. If you no longer needed your vehicle anyway, you’ll be putting thousands in your back pocket without any drawback. 

Your Spare Room

People tend to think that living alone is automatically better than living with other people, but that’s just not the case. It can be fun to live with other people, and then there’s the small matter of all the cash it can bring in. If you have a spare room, look at bringing on board a housemate; you’ll have an extra few hundred dollars each month. If you don’t want anything so set in stone, look at listing your spare room on sites like Airbnb. You can charge $40-100 a night (depending on location/quality of room), and can also decide not to host when you want your private time. 

Your Skills 

Finally, remember to make the most of your skills. Few people think to ask for a raise, but if you don’t ask, then you’re unlikely to get! If you haven’t had a raise in a while and are doing a good job, then the company will most likely be receptive. A quick five-minute chat could give your hundreds of dollars more each month.