3 Ways to Quickly Generate Cash

Often, saving money and reducing your spending is not enough, if you’re carrying a load of debt or trying to make it from paycheck to paycheck. Here is a list of ideas to help you actually create the extra cash you need.

1. Sell, sell, sell.
The first step is to take inventory of what you own. Start with your clothes. If you haven’t worn it in a year, you won’t ever wear it again. Make three piles: 1. What I wear; 2. What I think I’ll wear one day, and 3. What was I thinking when I bought that? Out of piles 2 and 3, take out nicer items you can sell on eBay, like suits, dresses, shoes in good shape or purses. Place the rest of piles two and three in garbage bags and set aside for a yard sale.

An easy way to get rid of previously read books and watched DVDs is to sell them on Amazon.com (in addition to eBay). In many cities there are eBay drop-off shops that handle sales, shipping, invoicing, and collection like www.i-soldit.com.

2. Got rent?
If you own your pad, consider renting a room to a student or an intern for the semester. In metropolitan areas, rooms could easily go for $400 a month. Spread the word at work and among friends and family that you have space available for rent. Do some research to find out what documents need to be in place in order to rent.

3. Got skillz?
Have a special skill you can raise some cash with on the side? My husband and I sent out simple flyers to our church community and friends that we were available as photographers soon after we were married. We did a few senior picture portraits and even shot a wedding. All we took were a couple hours out of a couple of Saturdays each month. Cash can be generated with little free time sacrificed. Remember to keep records for the IRS!