The best ways to have more money take time. You can work hard and secure promotions, increasing your salary each time, but this can take years. You can save a little at a time using a high-interest savings account. But, this can be tough and even if you never make a withdrawal takes time to build up to a substantial amount. You can pay off your credit cards and other debts, leaving you with more substantial income, but this can be exceptionally hard work if you are struggling for money or on a low income. Sometimes, you need money fast.
There’s something that you need to buy or pay off, and you can’t take your time to save slowly. We’d all love to be in the position of having a large rainy-day fund, available to cover all unexpected costs. But, realistically, many of us don’t. In fact, many of us are struggling to cover essential costs and have no way to cope with anything that crops up.
In these situations, we can be tempted to apply for payday loans and credit cards to help. But, this can be a mistake, which will only lead to further financial hardship in the future. However, such drastic measures aren’t your only option. There are some great ways that you can make extra money quickly. Let’s take a look at some.
Get What You Are Entitled To
Many of us are proud. Too proud to claim benefits or ask for money. Don’t let this pride lead to financial hardship. It just isn’t worth it. If you think that you may be entitled to claim for any benefits, do it. Take a look at an online calculator or guide to see what it might be worth applying for. If you’ve had an accident, learn more about claiming compensation, and if you think you might have been sold PPI at any point, make a claim. PPI claims may have become an annoyance, with cold calls and advertising, but, there are still many people that could be entitled to a payout. Just make sure that anything you claim is backdated where possible so that you get everything that you are owed.
If you are paid hourly, working some extra hours is a fantastic way to make extra money. Ask your employer if there is any overtime available or ask your colleagues if they’d like any shifts covering. Just remember, the more you earn, the more tax that you’ll need to pay.
Get a Second Job
If there is no chance of earning more with your current job, get another. If you currently work a 9-5 weekday job, you could get a second job in a bar or waiting tables on evenings and at weekends. Again, you’ll pay more tax on this second job. But, working in the service industry just a day or two a week could see you make a significant amount in tips alone. Try to find something that you enjoy so that you don’t burn out by working too much.
If your current job and other responsibilities mean that you don’t have the time to take a second job or work longer hours, freelancing online can be the perfect solution. There are many jobs that you can take online that can earn you a significant income. You could try earning money writing for blogs or online magazines. You could sell your photographs online or advertise your skills as a freelance photographer. You could work as a freelance web designer or graphic designer, or you could even find work as a VA. Now so many people work from home, they can be keen to save themselves time by hiring a virtual assistant to schedule social media posts, arrange meetings, reply to emails and even write content. Many people actually manage to make a successful career as a VA.
It can take a long time to turn a blog into a profitable business. So, if you need money fast, starting a blog might not be ideal. Especially if you don’t have the hours to put in. But, if you’ve already got a hobby blog, this could be the time to turn it into something more. If you are already established in your niche, see consistent traffic and have a good social media reach, it can be easy to turn your blog into something that earns money. Install advertising, add affiliate links to your more popular posts, pitch to brands with ideas of how you could work together and start accepting sponsored posts.
Consolidate Your Debts
If you’ve got multiple debts, you could be paying a crippling amount of interest. This can leave you struggling to pay the minimum repayments, wasting money on interest and stuck with the prospect of being in debt for a very long time. Consolidating them won’t actually give you more money. But, it will save you a fortune. You’ll only be making one payment, and you’ll only face one lot of interest, which can be vastly lower. This means you’ll have more disposable income every month and that your debts are cleared much faster.
Have a Good Clear Out
Have you ever fantasized about finding a family heirloom in the attic and having it valued for a small fortune? Most of us have. While this is pretty unlikely (although, not impossible) a clear out may help you make some money fast and improve your current financial situation. Sell any unwanted goods online with great photos and appealing descriptions.
Make the Most of Other Peoples Clear Outs
Spring is approaching, and people all over the country are having huge clear outs and selling their old goods at yard sales. Start browsing. Buy things cheaply, clean them up and sell them on for a profit. As a weekend hobby, this could make you a little extra pocket money. But, if you are willing to put the time and effort in and have an eye for quality, you could earn a lot more.