Every household does their best to be financially responsible. Even though the prospect of raising a child in the 21st century, we do our best to be frugal while still ensuring that our kids get all the benefits we had in our own upbringings along with some of the luxuries and experiences that we didn’t. Thus, every family walks a financial tightrope, week in week out. In the UK, while other economies have weathered the storm of the economic crisis of 2007-2008 pretty well, we still seem to be struggling a full ten years later. Aside from debt ravaged Greece, we’ve had the most sluggish post-crisis recovery rate in Europe. In real terms this means that while the cost of living (especially rent) inflates, many of us are experiencing the most prolonged wage repression in history, so our wages fail to meet the rising cost of living. And that’s before we even take into account life’s little emergencies.
When the Diesel Particulate filter gets clogged in the car, the plumbing springs a leak or the washing machine breaks down, we need to lay our money on cash quickly. This can cause us to react in desperate ways, and unfortunately there are a great many less than scrupulous businesses that are happy to capitalise on your desperation. In panic we may run headlong into the arms of payday loan companies or less reputable credit card companies. These may be able to offer quick credit, but this inevitably comes at the cost of high interest and hefty monthly repayments. This can be ruinous to your carefully balanced household finances. Here we’ve come up with some ideas to help you lay your hands on quick money without swimming with the sharks…
As we and our loved ones walk the path of life, we find ourselves picking up a lot of stuff on the way. A lot of stuff. So much so that we don’t realise just how much surplus stuff we have until we move house. Some of this stuff brings us joy and enriches our lives… But a lot of it doesn’t. Wander from room to room and do an audit of what you can’t live without and what can go. If you put the effort into cataloging and listing your wares, you’d be astonished at what you can make within a week. Instead of trading in your old phones for an upgrade you can make a lot more selling them on Rapid Phone Buyer. Not only will you get a same day payment, you will get a whole lot more money. If your home is cluttered with too much furniture, stick some of it on Gumtree. Moreover, if your drawers and cabinets are full of unwatched movies, unplayed games, and CDs that haven’t seen the light of day since 1998 (in fact, do you even own a CD player anymore) Amazon Marketplace, eBay or MusicMagpie are great places to get rid of them quickly and for a reasonable price.
Box clever with credit cards
Credit cards can be a helping hand or utterly ruinous. It all depends on your ability to box clever with them. Many cards have low or 0% interest introductory rates and some have instant approval, giving you the number straight away so that you can start using them before the physical card even arrives. Just bear in mind that these rates do not last forever and it’s important that you manage your monthly repayments to clear your debt before this introductory rate expires. If you still haven’t paid it off by the end of the introductory rate, it’s not a huge problem per se, it just means that you’ll have to move the debt onto another card with another 0% interest rate until you’ve cleared it.
Use money making apps
The wonderful thing about living in the digital age is that there are no shortage of side hustles that virtually anyone can adopt and make money from. Unfortunately, however, many of these take time and startup costs to establish, but you can still make money on the side to supplement your income using apps.
Help out your friends and neighbours
Making money in the digital realm is all well and good, but sometimes the old school methods are the best. What did you do when you were a kid and you needed money? You hustled your friends and neighbours. You asked if anyone needed their car washing, their dog walked, their cats fed or their kids babysat while they enjoy a night out. There’s absolutely no reason why you can’t approach these in your free time as an adult. Indeed, there are many freelancers in a wide range of fields who supplement their income doing exactly that which great success.