You may feel overwhelmed if you are confronted with an unexpected financial obligation. When your car breaks down or you are faced with an expensive boiler repair, you may find yourself worrying about how you will make it until your next paycheck arrives.
The simplest method to ensure that you are prepared for any crisis that comes your way is to focus on saving some extra cashback from your paycheck each month, which you can put into a rainy-day fund to use in case of an unexpected financial emergency. As you can imagine, it takes time to build up that kind of financial buffer, and this is especially true if you do not have a steady source of income, to begin with.
In the meanwhile, we will have a look at some of the things you may do to raise additional funds when you are in a hurry and do not have any spare funds to fall back on.
Sell things that you no longer need or want
If you have a house full of clutter and do not have enough money to cover an unexpected bill, you might be able to get some help. Consider using an online marketplace such as eBay to sell some of the stuff you no longer require. You may always set aside a day to rummage through your storage boxes and look for items that you can sell to get some extra money. For example – that coin or stamp collection that you were given and has sat in the attic – could you find out where to sell coins and make some money from them?
Consider freelance work
You may not be able to pursue another traditional career while maintaining your current one, but that does not rule out the possibility of finding other means of supplementing your income in the meantime. For example, because of the remote working environment, people all around the world are discovering new methods to supplement their income by taking on freelancing tasks.
You may work from home designing websites, serving as a virtual assistant, or even writing blogs. On the other hand, you could consider offline employment such as delivering meals or dog sitting as an alternative to online jobs. If you do not have such talents, or if you do not have childcare and are unable to take on another work, you might try your hand at matched betting or fast survey sites.
See if you can get a wage advance
Many businesses will simply refuse to grant you an advance on the money you are owed. However, there are some employers who are prepared to provide their employees with a little bit of extra assistance when they are experiencing difficulties. If you find yourself in a difficult situation, you should consult with your supervisor about your choices. The worst that could happen is that he or she will say is ‘no’, and you will not have lost anything by asking.