It can happen to us all; the kind of expense that comes out of nowhere leaving you completely strapped for cash. Your car breaks down, your A/C needs repairing or perhaps you’ve just lost your job; if you’re wondering how you’re going to pay next month’s bills, all is not lost. There are a few options available to you depending on how quickly you need to get hold of some cash, if you are unable to get financial help from family or friends and are facing an emergency expense.

Here are some tips for raising cash quickly:

Have a Yard Sale

Although it may sound like a lame idea to you, if you have stuff you no longer want or use, there’s someone out there who’ll think it’s perfect. Everyone is looking for a bargain these days and yard sales are becoming more and more popular as a result. It’s quick enough to set out a yard sale, easy to promote in your own neighborhood and absolutely free of charge!

Do Some Odd Jobs

We all have skills that someone else doesn’t and there’s always someone prepared to do the jobs we don’t want to do. This is the reason kids have been shoveling snow, mowing lawns and running errands for generations and have earned themselves a little income in the process. Even if you just offer to walk your neighbor’s dog or dogs for a small charge, you can add this income to your emergency funds.

Cash in your Investments

This is obviously something that has to be done at the right time to get the best deal but if you are holding CDs, bonds or stocks, it is possible to raise capital by cashing them in. The one thing to bear in mind is that selling this type of instrument is not instant and you’re unlikely to leave your broker’s office with bundles of cash. Also, the tax man will have an interest in the fact you’ve raised cash through your investments and may want a small share of the action!

Examine your Life Insurance Policy

It may well be that you have held an insurance policy for many years that has built up equity for you to borrow against. This is a good way of raising cash if you have to in emergency and doesn’t get ravaged by the IRS because it’s classified as a loan.

Home Equity Loans and Reverse Mortgages

If you have owned your home for a number of years, you may be able to raise the money you need against the equity in your property with a home equity loan. If you are a senior, you should be able to apply for a reverse mortgage which doesn’t require monthly payments and allows you to stay in your home. The down side of both these types of financing is that should repayments not be met, you run the risk of losing your home.

Instant Cash Money!

The best way of raising cash immediately is through quick cash loans where you receive the money almost instantly. This is the best form of finance for emergency situations because there is a simple application process and you don’t have to be concerned about your financial status as lenders are prepared to consider most circumstances in loan applications. As with all debt, it is of course important to keep on top of repayments but in terms of getting peace of mind after a shock bill, a quick cash loan is your best bet.

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