Have you found yourself strapped for cash? If you're like many Americans these days you've most likely felt the pinch of a struggling economy. And even if you've taken money-saving measures like simplifying your life and have found unique ways to save money there may be some months when you're still just trying to keep your head above water.
You're not alone and there's no shame in doing what you have to do to try and see your way through. But not all quick-money grabs are really savvy moves – it really depends on your particular circumstances. So before making a quick and possibly bad decision on how to make some cash, consider the following
Selling Your Stuff
Yes, you doubtless have some items that are worth money. But if you haul off and sell something in a desperate grab for cash then a number of factors often come in to play. For example, the possessions that matter most to you might be able to one day be replaced, but you most likely won't get very much money for the items that have sentimental value to you, so why go there? Also, some people play on other peoples' misfortune and you may end up getting a raw deal because you're in such dire straits.
This isn't to say you should hoard a ridiculous accumulation of junk, but it is cautioning you to consider holding tight so that you can one day make your decisions with an objective mind and with time on your side. By doing so you will be better able to protect your own personal interests while making the sale.
Borrowing Money
This is always a tricky one because asking a friend or family member for money is daunting enough, but what happens if you fail to repay it? Money borrowing from a personal source can damage, and sometimes end, relationships. Still, if you're in a serious bind you might find that you need to do exactly that. One of the best ways to make your money borrowing a redemptive thing is to use the feeling of discomfort to learn from it and to do what you can not to get yourself into a pattern of being financially strapped. Let's face it if every month you find you're falling short on the bills then you need to really look at a variety of changes that may need to be made in your life.
Also be careful to avoid payday loans, if possible, because the interest rates and fee penalties for non-repayment can be very damaging.
Avoid Doing Something Unethical
Times of adversity can really show a person what they're made of. No matter how bad things get you should never consider doing something unethical in order to get quick cash. Whether you believe in Karma or not it should be common knowledge that no good can ultimately come from stealing, betraying friends, or having shady dealings at the office. Keep to the straight and narrow in all things and then once your luck turns around you can look at yourself in the mirror.
Times are tough, there's no doubt about it. But still, some moves to free up cash are better than others. Before making any move consider all of the ramifications in order to insure that you're making the best choices possible, no matter how tight your situation may be.