I Am Dead Broke: What Can I Do To Earn Some Cash?
Extreme financial hardship calls for extreme action. I remember a time in college when I had just over $13 to buy food for a week. I gathered the weekly grocery store ads and put together a plan, which involved a lot of generic cereal, bologna sandwiches and hotdogs. I made it work, but it would have been easier if I had a little extra cash. Many people will experience temporary severe financial hardship sometime in their lives. When it happens, you have to have a plan to handle the situation. You have to know how to make it through those times when you realize, “I am dead broke."
You’ll obviously need to be as frugal as possible, but you’ll likely have to find a way to raise some funds. Here are 6 things that can help you get through an extreme temporary financial hardship:
Positive Outlook
A positive outlook can be invaluable to getting through any difficult situation. Believing that the hardship will pass, and that you have the tools to handle the situation will allow you to focus on the necessary actions.
Sell Something
Advertise that unused television, seldom used golf clubs or video game system on Craigslist. You might be able to sell it to quickly raise some cash.
Pawn Something
If you can’t wait for a buyer to find your ad, take your items to a pawn shop. You likely won’t get as much for it, but the most important thing is to get cash in your hand.
Odd Jobs
Check the Craigslist Jobs section or the classifies of your local news paper for a job or task meeting your skill set that could earn some quick funds.
Temp Agencies
Visit a local temporary employment agency to inquire about a position that needs to be filled immediately.
Do NOT Get A Payday Loan
The other items on this list are things you should do, but here is one that you should never do. Never, ever take out a payday loan. A payday loan seems like a great idea, for about fourteen days. That’s when you are expected to pay the loan in full. If you can’t raise the funds now, you likely won’t be able to in two weeks either. You’ll end up paying back the loan, and then initiating a new loan immediately to make up the funds you just had to pay to the payday loan company. Once you get stuck in the payday loan cycle, it’s extremely hard to get out.
Severe temporary financial hardship can happen to anyone for any number of reasons. Being prepared, and knowing how to raise cash fast if it happens will be key to successfully through those times when you say to yourself, “I am dead broke."
Here’s a list of my favorite articles:
5 Key Things to Be Sure You Get Right on Your Loan Application
National Consumer Panel – Is it a Waste of Time?
Meal Delivery Service: Blue Apron Review
Which is Cheaper: Keg or Canned Beer?
Save Money on Water if You have a Pool (Utilities)
Brought to you courtesy of Brock
Totally agree with you. Payday loans are the worst! I used to sell old books in college for some cash. It worked out really well.
That’s good advice, Ms. Frugal Asian Finance…especially for College kids (who are by definition financially strapped). College text books are worth a lot!
Also, money making apps are worth checking out too. While not going to be a ton of money, every little bit helps.
Good thought, Frugal Ninja….I wonder what the turn around time is for the payment though.