Quick and Easy Ways to Raise Extra Money
Consumers today are feeling pretty hard hit. Low wages, high costs of living and a lack of easily available credit have all contributed to the creation of a seemingly unending cycle of poverty and hardship for many people.
Frugal living has become the norm, even for those people who are seemingly managing to weather the storm. Sometimes, raising cash in a hurry becomes a necessity, which is when the following money making tips may come in handy.
Pawning an Asset
Pawnbroking has been on the rise in recent years. The continuing unavailability of credit has helped to normalize the process of trading unwanted items for cash and has further revitalized the pawnbroker industry in the process. John Nichols, CEO of H&T Pawnbrokers, commented on this in the Huffington Post, saying, “10 or 15 years ago [pawnbrokers] were generally speaking, a secondary occupation of a jewelers’ shop … We changed that and we made them pawnbroking stores in their own right.”
One of the main draws of the pawnbroker is that they offer quick cash solutions. But, unlike other types of perhaps-less-scrupulous lenders, the very nature of pawning an asset is that you essentially pay for your loan before you receive it. This, combined with the fact that pawnbroker transactions are almost always instantaneous, makes pawning an asset a reliable and secure way of raising money in a hurry – the perfect choice for cash-strapped consumers.
Renegotiating Your Lending Terms
If you have pre-agreed lending terms – perhaps on a car or a property – you may be able to raise some quick cash by renegotiating these terms with your lender. Even personal loans can be renegotiated, depending on what type of loan you have and what terms were agreed upon when you took it out.
Renegotiating lending terms can release equity from an asset, providing you with a quick source of cash when you need it the most. But it’s also a good strategy for people who are having trouble making their repayments, providing them with some much needed breathing space.
Offer Your Services
In the age of the internet, it’s never been so easy to make extra money by offering your services online in a variety of capacities. There are many online sites and high street shops or newspapers which allow people to post availability notices, advertising anything from goods to childcare. If you have a particular skill or talent which you could use to make money outside of your normal working hours, it’s worth exploring how this can be achieved. Whilst not the quickest of money making solutions, this is still a great way to earn extra cash on a self-employed basis.