Whether you need to raise emergency funds to pay your rent or to prevent your bank from seizing control of your property, there are a variety of innovative ways to raise the cash that you need. If you’re interested, simply continue reading to discover 7 unique ways to raise emergency funds.
7 Unique ways to raise emergency funds in a hurry:
1. Raid your home, for expensive items which you can sell
Consider selling expensive items such as jewellery, gym equipment, golf clubs, bicycles and video games on eBay. If you need cash today, it’s also worth trying your luck at your local pawn shop.
2. Host a yard sale
Chances are that your home is full of objects that are gathering dust. Why not host a yard sale and get rid of items you don’t use, in exchange for cold hard cash. It’s also worth asking your friends to donate any unwanted items, that they are looking to get rid of. Typically a garage sale will raise a few hundred dollars. Just ensure to advertise your yard sale with eye catching cardboard signs as well as advertising your yard sale online.
3. Ring your parents
If you’re desperate for money, don’t be too proud to borrow money from your parents or close family members. Just beware that borrowing money may negatively influence your relationships. Your parents may even be willing to swap cash in exchange for favors. For example, your parents may appreciate having someone to mow their lawn.
4. Offer to complete one off jobs
You may be able to raise the money you need by babysitting for your friends or walking your neighbors’ dogs. It’s also well worth talking to your elderly neighbors to see if they need someone to do their grocery shopping for them or to take them to their doctors appointments.
5. Search your sofa, car and pockets for loose change
You may be surprised to read that the average US household contains around $90 of loose change. So it’s well worth searching your sofa, pockets, car, drawers and bags for loose coins. You may even find a note or two in a wallet or bag, that you haven’t used in months.
6. Tap into your Roth IRA or 410(k)
If you are yet to celebrate your 59th birthday, you may incur some penalties for borrowing money from your 410(k). So this particular solution should only be used in dire circumstances. However, if you need money in a hurry, it’s still worth looking into this option.
7. Book an appointment to donate your plasma
Plasma is always in demand as it is needed for various medical treatments as well as for medical research. Expect to make between $15-$40, from a single donation. The exact amount which you’ll receive, will depend on your weight. While selling your plasma, may seem like an extreme solution, you should receive payment for your plasma, on the day of your donation.
So if you need to raise money quick, stay calm and use the 7 methods listed above, to raise the cold hard cash that you need