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I Need Money Now: Here’s What to Do

I Need Money Now: The Blueprint

Having a tight budget can be stressful and it often seems there is nothing you can do about it. But the good news is that you don’t have to struggle alone. Everyone needs money from time to time, and there are a few ways to figure out how to get the extra funds you need when life throws you a curveball. We’ve created this guide to help you learn what steps to take when you need money now.

1. Feeling Financially Stranded? Here’s How to Weather the Storm

Secure your savings. It’s always important to ensure your savings are secure. Make sure that you are not putting all of your eggs in one basket. Build up multiple lines of income and diversify your investments. This way, if one investment hits a rocky patch, there will be others to pick up the slack. A good way to begin is by checking out the different bank accounts currently on the market. Consider the options carefully and find one with the best deal for your needs.

Pay off debts as soon as possible. As soon as you find yourself in financially difficult times, try to clear any outstanding debts quickly. Debt can be like a millstone around your neck, so reducing its burden as quickly as possible will make any financial storm that much easier. Use the snowball technique if you are feeling overwhelmed; pay off the smallest debts first and build momentum to tackle the larger debts when allowed.

Utilize any benefits available to you. The government provides support in the form of benefits in many countries. It might not be much but it can help to ensure you are staying afloat. Many government assistance programs are designed specifically to help you when in times of financial hardship. See if you are eligible to receive additional help.

Find a new source of income. Just because you may have a single source of income it doesn’t mean you cannot look for a new source. If your financial situation is sustainable enough, consider taking on odd jobs or freelance projects. Doing so can help you make more money and add more income to your household. Here are just a few ideas:

  • Dropshipping
  • Freelance writing
  • Graphic design
  • Tutoring

Stay mindful and focus on the future. Try to remain mindful and focus on the bigger picture. Lowering expenses and saving more will help you weather any financial storms today, but it’s just as important to think of the future. Consider ways to better prepare yourself for any financial storms that come your way. Look into insurance, start putting money aside for savings and create an emergency fund in case something unexpected comes your way.

2. Cut Expenses: Ideas to Get Through Until You Can Make More Money

Staring at a budget deficit is no fun. And finding ways to cut back often can seem like an impossible feat. But with a few creative approaches, you can still manage to make ends meet and get through to the other side of financial uncertainty.

1. Re-think your shopping habits. We all love to go shopping, but during a time when money is tight, it’s a good idea to be mindful of what you’re buying. Make a list before you go, and stick to it! Instead of hitting the mall, try shopping for secondhand items, or look for deals on sites like eBay or Craigslist.

2. Take a hard look at your entertainment expenses. Going to the movies, dining out or a night on the town can add up quickly. Consider forgoing going out for a while and finding entertainment at home. Set up a movie night, host a game night, or just hang out in your own living room.

3. Cut out unnecessary spending. This is a great time to reassess things you don’t really need. It may be painful to make decisions like this, but here are a few ideas:

  • Scale back on daily coffee and lunch runs
  • Cancel subscriptions to apps, services, and magazines you don’t use
  • See if you can lower your car and home insurance rates

4. Find ways to save on groceries. You don’t need to go to the cheapest store in town to save money; however, you can still be smart with how you shop. Make a grocery list and stick to it. Meal prep, find recipes that use similar ingredients, and buy items in bulk.

5. Utilize DIY and upcyling ideas. Use a little ingenuity and you can save a lot of money. For example, experiment with homemade beauty treatments, dye or stain old furniture, and sew any ripped clothing. With a little creativity you can save a lot of cash and make the most of what you’ve got.

3. Harness Your Creativity: Turn Necessity into Opportunity

In the face of disruption, you don’t have to accept what life dishes out or become stuck in the same rut. You can use your creativity to tap into new possibilities, and thrive in the world of today. Here are some ways to harness your creativity:

  1. Carve out space for what you love. Make time to invite creativity into your life: walk in nature, pick up your favorite hobby, or learn a creative skill. Staying creative will help stay agile when crisis arise.
  2. Embrace constraints. When faced with limitations or roadblocks, use them to drive inspired problem solving and creative solutions. Necessity breeds invention.
  3. Learn to listen. Start conversations with people in unexpected places and really listen for what it is that comes up. What can you learn from the different perspectives?
  4. Test the waters. It’s OK to fail. Experiment, take risks, and iterate quickly. Failure is necessary for the birth of an idea.
  5. Go with the flow. Let your ideas percolate and iterate, even if it feels like nothing is happening. Follow your inner voice and use your instincts to bring a unique spark to your projects.

Harnessing your creativity starts with awareness of your thoughts, feelings and intentions. Cultivate an environment of creativity to spark fresh ideas — the kind that turn necessity into opportunity.

By putting your creative skills to use and exploring possibilities, you can discover the beauty of transcending limitations and achieving goals that were once unimaginable.

Hold onto your creativity as it will carry you through the toughest of moments and help you rise up to unforeseen opportunities.

4. Make Use of Existing Resources: Build a Support Network

When starting a business, it is not all about you! Making use of existing resources, most importantly, building a support network is a key factor to success. Through having a solid network of contacts and allies, a plethora of opportunities will arise that are just not available otherwise. Here are some important suggestions for making use of your existing resources to build a strong support network.

  • Attend Events: Attending business events such as seminars, conventions, and expositions are great ways to connect with people in your industry. The connections made at these events could open up doors for you, and often times opportunities become available you never knew existed.
  • Networking Local: Join a local small business meetup in your area. Whether you are a new business or years in the game, you will find events of all shapes and sizes that can provide amazing insight and meet potential connections. You never know who you might cross paths with.
  • Utilize Social Media: Social media is a powerful tool to help build a strong support network. Follow the right people, engage in conversations, or even post your own content in order to gain recognition with your fellow peers.
  • Be Introductory: When someone introduces you to a new contact or an opportunity, make sure to thank them for the introduction. Make sure you don’t forget to include the person in any conversations or other social activities.
  • Show Your Gratitude: No matter how big or small the gesture, never forget to show your gratitude. Thanking those who help you builds relationships and makes the people you are connected to more likely to forgo similar courtesy for you in the future.

From contact information to unannounced advice, creating a strong support network is essential to any entrepreneur or business. You can never have too much help, and having a larger network opens many more doors of opportunity. Take these suggestions and start creating connections today!

5. Get a Temporary Job: Earn and Learn At the Same Time

Gone are the days when taking a temp job was considered something to be ashamed of. Not only is it a great way to invest in yourself and build new skills, but it can also be an incredibly rewarding experience. If you’re undecided about your career path or want to explore new opportunities, here are five benefits of taking a temporary job.

  • Flexibility: Temporary jobs generally consist of day-to-day or week-to-week contracts that allow you to work around your regular commitments. You have time to find part-time gigs or look for full-time employment, or even pursue a side-project. This kind of flexibility is a major benefit for those looking for job security and a way to invest in their personal interests.
  • Work Experience: Employers value previous experience and the more you have the better. Taking on a temp job gives you on-the-ground experience at the kind of organization you’re passionate about. You can get a taste of what their work culture is like and potentially find a place where you could fit in as a full-time employee in the future.
  • Financial Perks: Finding yourself out of work and in need of income can be a stressful ordeal. Fortunately, temp jobs provide a quick and easy way to get back on your feet. You can start to make meaningful contributions to your finances, setting yourself up for future success.
  • Network Expansion: Taking on a temporary job exposes you to people who have already gotten their foot in the door. You have the opportunity to make valuable connections that could potentially lead to future job opportunities. The best part is that your new contacts weren’t always the same people you may have found in an office in the past; temporary gigs provide exposure to a wider range of professionals.
  • Gain Experience: Temp jobs are a great way to gain experience in different industries and environments. You’ll get a chance to learn more about industries through hands-on work and you might come away with a newfound appreciation for a certain field of work. Whatever you decide to pursue in the future, your temp job experience will be a valuable asset.

Temp jobs are a win-win situation; you’ll gain useful experience, expand your network and learn to be more flexible – all while earning money. It’s a fantastic way to branch out and reconsider your career aspirations, explore new avenues, and of course, gain experience. Whatever direction you decide to pursue, a temporary job could be your gateway to success in the future.

6. Research Alternative Money Sources: Banks, Lending Platforms and More

For those who’d like to take a more creative approach to obtaining the financing they need, research alternative money sources and compare rates. In addition to banks and credit unions, there are a variety of other avenues one might want to consider for financing.

Lending Platforms There are a handful of online lending platforms such as Prosper and Lending Club, which connect borrowers with investors. These platforms are relatively easy to use and might be ideal for those who have a difficult time qualifying for traditional loans.

Asset-Backed Lending Platforms For those who have access to tangible assets such as gold, vehicles, or homes, asset-backed lending platforms such as Pawngo and Anchor Loans may provide a viable option. This type of loan is based on the value of the asset and typically does not require a credit check.

Small Business Administration (SBA) Loans Small business owners may qualify for government-backed loans from the SBA. These loans come with low-interest rates and more lenient criteria.

Crowdfunding Sites such as Kickstarter allow users to raise money for businesses or projects. This financing is not debt and does not need to be paid back, meaning there are no interest charges. However, crowdfunders will usually receive the goods or services of the business in return for their money.

  • Lending Platforms
  • Asset-Backed Lending Platforms
  • Small Business Administration (SBA) Loans
  • Crowdfunding

With a little research, financing can be found without having to resort to traditional borrowing. Exploring these additional sources of capital may result in favorable terms and less stringent criteria.

7. Take Time to Reflect and Reassess: Crafting a Financial Plan for the Future

Crafting and staying committed to a financial plan is a daunting task. But by taking time to regularly assess and reset goals, you could be well on your way to a secure financial future.

Start with What You Know

A financial plan requires a mix of hard facts and meaningful assumptions. Start by writing down the facts that you know like your monthly income, debts, savings, and other investments. You should also include a list of material commitments such as rent, loan payments, and bills. Once you have a holistic view of your current financial state and the near future, you can start mapping out a plan for the long term.

Set SMART Goals

SMART goals are measurable objectives that are Time-Bound, Specific, Achievable, Realistic, and Time-Bound. Utilize SMART goal setting to ensure the success of your financial plan. Longterm goals typically require more planning and tracking than short term goals, so be sure to lend the necessary attention to making sure your goals will keep you on track.

  • Create savings goals
  • Plan for retirement
  • Analyze current spending
  • Reduce debt
  • Reassess financial objectives

Review and Reconstruct

It is important to have periodic reviews of your financial plan. As time passes, your financial needs may change and the markets fluctuate. Take the time to review and reassess your financial plan often. Make sure that the progress you are making matches the goals you have set for yourself. If not, then you may need to re-evaluate your objectives and make some changes to stay on track.

If you find yourself in a difficult financial situation and need money now, don’t panic. There are plenty of methods to help you get money to cover your expenses. From reworking your budget and seeking out grants or loans to trying part-time jobs and selling extra items, there’s no shortage of ways to get the money you need in a pinch. Next time you find yourself in need of quick cash, take a deep breath and try out some of these methods — you may just find they’re more helpful than you ever imagined.

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