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In a Sticky Situation With Money? Here’s How You Can Get Back On Your Feet

13 February 2018 No Comment

Managing money can be hard. Even if you’re very organised and very frugal, unexpected costs could still catch you out, or you might have a month where you need to pay out more than usual. Either way, most of us come up against money issues at one time or another, here are some of the things you can do if you’re in a bit of a pickle financially.

Make Money from Home

These days, anyone with a passion or interest is able to set up their own online shop you don’t even need a big budget for things like a website and marketing. If you use an online marketplace like eBay or Etsy, you’re able to start selling right away. If you have a hobby you enjoy that involves making physical or digital items; then it’s well worth monetising. It won’t feel like work but will raise you some much-needed cash. Freelance work another good option because it gives you flexibility. While each piece will have a deadline, you’re not contracted or expected to do a minimum amount so it’s up to you how many you do which gives you full control. Blogging is also a worthwhile venture if you’re looking to make money from home. If you’ve already been writing one for a while and are established, start researching ways to make it more appealing to sponsors. They will offer money in return for publishing a post or you writing a post with their link included.

Make an Investment

If you have some savings and want to increase them, one option would be to make smart investments. Professionals and those who really know what they’re doing can take advantage of a trading platform for automated trading, making money from the stock market. But even as an individual you can make relatively low- risk investments with things like peer to peer lending and investing in property. Having cash tied up in a property means it’s not easy to spend and waste, but you can free it up by selling if needed. And in the mean time, renting it out will generate you extra income each month.

Sell Unwanted Items Around The Home

Many of us have hundreds, sometimes even thousands in unwanted items around the home. It could be antiques in the loft or unworn jewellery, technology that’s not used since you upgraded. Even things like CDs, DVDs, computer game disks and clothes can raise you some extra money.  There are lots of companies who buy these kinds of things, or you could sell on local classifieds sites like Craigslist or Facebook groups.

Budget Properly

As well as earning or raising more money, it makes sense to make the very best use of the money you already have coming in. You can do this by budgeting effectively and sticking to it. Know what comes in each month and what goes out, what you spend on each area and how much you have left at the end. Only ever buy luxuries or extras with expendable income that’s not accounted for- although ideally saving your extra cash would be the best option.

 

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