This week I am participating in a $100 giveaway hosted by Savings Advice. The theme of this giveaway is “When there isn’t enough money at the end of the month”. To be honest, not having enough money at the end of the month isn’t a situation which I have ever found myself to be in. It sounds terribly stressful and I hope to never be caught in such a desperate need of money.
Fortunately I have always practised robust financial planning. So the following list is things that I would do to get through the immediate need for cash, as well as ways to ensure I keep ahead of the game.
If you are setting yourself a realistic budget every month, then the situation of not having enough money should never occur. Unfortunately many people struggle to see the value in maintaining a budget, and I always hear stories of people having to scrounge around for money so that they can afford to pay the rent, or one of the utility bills. If you need help when preparing a budget, please check out one of my earlier posts – How to create a budget
Track Your Spending
I also wrote a post about Tracking your spending when my blog was quite new, if you are struggling with spending leakage then it is worth a look. If you don’t know where your money is going, then you are never going to be able to stick to your budget, and I imagine you are far more likely to run out of money at the end of the month.
Ways to Find more Money
If you really need money now and you don’t have the luxury of time, then there are always ways to find more money. Some of them however, are more appealing than others…
Most people will have closets full of stuff which they no longer need or want. If you are short on cash, then selling some of this stuff might be the answer to your money woes. Selling items online has never been easier with websites like E-Bay, Craigslist and if you live in Australia – Gum Tree. It can be a fast way to make a few bucks.
Another way you can find more money, is to do odd jobs for others. Sites like Freelancer and Fiver are dedicated to finding people to work on projects for money. They have a large range of different activities that cater for a wide array of skill sets. There is almost certainly something you will be able to complete for someone on one of these sites, which you will be paid for in return.
One of the most obvious ways to get access to additional funds, is via credit. I personally don’t recommend that anyone go down this path, as you will always end up paying more in the long run. The big bad when it comes to credit is interest. Interest can be crippling if it gets out of hand, so be sure to only use this as a very last resort.
A different Option
The sponsor of this giveaway is Activehours, they offer a service similar to a pay day loan, but they do not charge you any fees. The idea is that if you like the service you may consider providing them with a tip to show your appreciation. If you are struggling with money then it might be worth checking out their website.
Time for the giveaway! Good luck to everyone who enters.