Advertising
Advertising

How to Make Money Right Now

How to Make Money Right Now

If you need to make money quickly, there are several ways that you can do so without becoming overwhelmed or stressed. First, you need to ask yourself just how quickly you need it. Do you need it today to pay a bill or do you have a few weeks? Do you have to have the cash in your hand or can you wait a month to send an invoice? Asking yourself these important questions can help you to decide exactly what you need to do to make this side cash happen. If you need ideas, please check out the examples below, which are broken down by category.

Extremely Fast

If you need money today, there are a few ways that you can get it. First, head to Facebook and ask if any of your friends need a babysitter for that night. Make sure that you describe why you would be a good babysitter, including any previous experience you may have had working with children and ideas you have for making the night fun for them.

Advertising

Plato’s Closet
    Plato’s Closet 2

      While you are waiting for someone to respond, head to your closet and see what clothes you no longer wear. Take these clothes to a store like Plato’s Closet, where they will sort through items and give you cash on the spot. Remember, many secondhand stores also take shoes, purses, and jewelry. When you bring your items, make sure they are clean and organized. If you go to Plato’s closet and dump out wrinkly clothes on the counter, they will not be impressed. If you go in there with ironed clothes that are all sitting neatly on hangers, you will have a much better chance of selling them.

      If that doesn’t work, remember that you can head to a Pawn Shop. Pawn Shops can give you loans on items you love or cash for items you no longer want. Remember to read the contract of any Pawn Shop you do business with. For example, most of them will claim ownership of your item if you don’t pay the loan back in a few days. If you have a unique item and they aren’t sure what it is, be sure to describe it to them in detail so that you can get the best offer possible.

      Lastly, if you have a few pieces of furniture you no longer want, you can list them on Craigslist. If it’s a desirable item, it’s very likely that someone will come pick it up the same day you list it and give you cash for it. Make sure to take pictures of your item for your ad in a bright, sunny room. Stand back far from the item and zoom in. This is better than trying to get a detail shot. You don’t need a fancy camera to sell items quickly. You just need a simple camera and a lot of sunlight to get the job done.

      Advertising

      A Few Days

      If you have a few days before a large bill is due, you’re in good shape. One of the best things you can do to make money is hold a garage sale. I try to hold a garage sale once a year, and I consistently make $200-$500 every time I host one.

      If you’re going to have a garage sale, the only way for it to be successful is to be organized. Make sure you sort through your items carefully and label them with prices. Many people are too bashful to ask what the price of an item is, so if they are unsure, they might walk away. Also, check to see that everything you sell is clean, washed, and tidy. Clothes that are pressed and hung up on a line will sell much faster than a pile of clothes in a box. You should also advertise your sale with big, bright signs that have large letters and are easy to read. Also, place an ad on Craigslist.com with great pictures of your products. This will act as a “sneak peek” to those who love frequenting garage sales.

      Advertising

      Craglist garage sales
        eBay Sales

          Another way to make money if you only have a few days is to sell items on eBay. You can typically set items to sell in just a few days, and you can have the money in your PayPal account instantly. If you are going to sell on eBay, you have to have excellent pictures. To achieve this, make sure to take photos of your items in a place where they have enough light. Make sure pictures aren’t blurry, and write as much detail as possible in the item description in clear, easy to understand English.

          A Few Weeks

          If you have a few weeks to spare, and you want to try to make some side income, you definitely have the time to develop a side business. All you need to do is identify a talent that you have. This could mean refinishing furniture, freelance writing, mowing the lawn, building websites, helping a business with their social media, editing videos, or anything else you can think of. These jobs might take a few weeks to create and promote, but once you do, you could easily make thousands of dollars a year.

          Advertising

          Fiverr
            elance

              Some great websites to look into for promoting your side business are Fiverr.comUpwork, and Odesk.com. Remember that when you set up profiles for these websites, you are representing your company and your brand. Describe your services in great detail. Make sure that you have no grammatical errors in the description. It’s also wise to include a portfolio, links to your work, or recommendations from others. Additionally, remember that if you choose to build up a side gig business, reputation is everything. Whether you are working for a close friend or a stranger online, make sure that you always produce top quality work so that it can lead to referrals down the line.

              All you need for this money making tactic to work is a little bit of time, patience, and a very strong work ethic.

              Ultimately, you can see that making money quickly is not as hard as you think. Once you know your time frame and exactly how much extra money you need to make, you can set goals and work your hardest to achieve them.

              Do you know of any other ways to make money quickly? Have you ever tried one of the tactics above?

              More by this author

              Catherine Alford

              Catherine is the go to personal finance expert for educated, aspirational moms who want to recapture their life passions.

              11 Reasons Why It’s Important to Follow Your Dreams How to Make Money Right Now How to Have a Successful Garage Sale 30 Money Questions to Ask Your Fiance BEFORE Marriage 42 Amazingly Free Things That Will Make You Smile

              Trending in Money

              1 How to Set Financial Goals and Actually Meet Them 2 25 Killer Sites For Free Online Education 3 How to Develop a Millionaire Mindset in 6 Simple Steps 4 5 Books You Must Read if You Want to Be a Millionaire in Your 20’s 5 20 Better Money Habits to Help You Increase Your Savings

              Read Next

              Advertising
              Advertising
              Advertising

              Last Updated on August 20, 2019

              How to Set Financial Goals and Actually Meet Them

              How to Set Financial Goals and Actually Meet Them

              Finances can push anyone to the point of extreme anxiety and worry. Easier said than done, planning finances is not an egg meant for everyone’s basket. And that’s why most of us are often living pay check to pay check. But did anyone tell you that it is actually not a tough task to meet your financial goals?

              In this article, we will explore ways on how to set financial goals and then actually meet them with ease.

              5 Steps to Set Financial Goals

              Though setting financial goals might seem to be a daunting task but if one has the will and clarity of thought, it is rather easy. Try using these steps:

              1. Be Clear About the Objectives

              Any goal (let alone financial) without a clear objective is nothing more than a pipe dream. And this couldn’t be more true for financial matters.

              It is often said that savings is nothing but deferred consumption. Therefore if you are saving today, then you should be crystal clear about what it is for. It could be anything like kid’s education, retirement, marriage, that dream vacation, fancy car etc.

              Once the objective is clear, put a monetary value to that objective and the time frame. The important point at this step of goal setting is to list all the objectives, however small they may be, that you foresee in the future and put a value to it.

              2. Keep Them Realistic

              It’s good to be an optimistic person but being a pollyanna is not desirable. Similarly, while it might be a good thing to keep your financial goals a bit aggressive, going out of the line will definitely hurt your chances of achieving them.

              It’s important that you keep your goals realistic in nature for it will help you stay the course and keep you motivated throughout the journey.

              3. Account for Inflation

              Ronald Reagan once said – “Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hitman”. And this quote sums up the best what inflation could do your financial goals.

              Therefore account for inflation whenever you are putting a monetary value to a financial objective that is far away in the future.

              For example, if one of your financial goal is your son’s college education, which is 15 years hence, then inflation would increase the monetary burden by more than 50% if inflation is mere 3%. So always account for inflation.

              4. Short Term vs Long Term

              Just like every calorie is not the same, the approach towards achieving every financial goal will not be the same. It is important to bifurcate goals in short term and long term.

              As a rule of thumb, any financial goal, which is due in next 3 years should be termed as short term goal. Any longer duration goals are to be classified as long term goals. This bifurcation of goals into short term vs long term will help in choosing the right investment instrument to achieve them.

              More on this later when we talk about how to achieve financial goals.

              Advertising

              5. To Each to His Own

              The journey of setting financial goals is an individualistic affair i.e. your goals are your own goals and are determined by your want to achieve them. A lot of times we get on the bandwagon of goal setting only to realize later on that it was not meant for us.

              It is important that your goals are actually your goals and not inspired by someone else. Take a hard look at this step at all the goals you’ve set for after this step, you will be on the way to achieve them.

              By now, you would be ready with your financial goals, now it’s time to go all out and achieve them.

              11 Ways to Achieve Your Financial Goals

              Whenever we talk about chasing any financial goal, it is usually a 2 step process –

              • Ensuring healthy savings
              • Making smart investments

              You will need to save enough; and invest those savings wisely so that they grow over a period of time to help you achieve goals. So let’s get down to ensuring healthy savings.

              Ensuring Healthy Savings

              Self realization is the best form of realisation and unless you decide what your current financial position is, you aren’t heading anywhere.

              This is the focal point from where you start your journey of achieving financial goals.

              1. Track Expenses

              The first and the foremost thing to be done is to track your monthly expenses. Use any of the expense tracking mobile apps to record your expenses. Once you start doing it diligently, you would be surprised to see how small expenses add up to a sizeable amount.

              Also categorize those expenses into different bucket so that you know which bucket is eating the most of your pay check. This record keeping will pave the way for cutting down on un-wanted expenses and pump up your savings rate.

              2. Pay Yourself First

              Generally, savings come after all the expenses have been taken care of. This is a classical mistake which almost everyone of us do. We pay ourselves last!

              Ideally, this should be planned upside down. We should be paying ourselves first and then to the world i.e. we should be taking out the planned saving amount first and then manage all the expenses from the rest.

              The best way to actually implement is to put the savings on automatic mode i.e. money flowing automatically into different financial instruments (for example – mutual funds, retirement corpus etc) every month.

              Taking the automatic route will make us lose control of our money and hence will compel us to manage in what’s left with us thereby increasing the savings rate.

              3. Make a Plan and Vow to Stick with It

              Budgeting is the best to get around the uncertainty that financial plans always pose. Decide in advance how spending has to be made.

              Advertising

              Nowadays, several money management apps and wallets can help you do this automatically. It’s easy and who knows, you may just end up doing what people fail to do.

              At first, you may not be able to stick to your plans completely but don’t let that become a reason why you stop budgeting entirely.

              Make use of technology solutions you like. Explore options and alternatives that let you make use of the available wallet options and choose the one that suits you the most. In time, you will get accustomed to making use of these solutions.

              You will find that they make it simpler for you to follow your plan, which would have been difficult otherwise.

              4. Rise Again Even If You Fall

              Let’s be realistic. It’s not like the world will come to an end if you made one mistake. This isn’t called leniency but discipline.

              If you fail to meet your budget for a month, don’t give up the entire effort just like that. Instead, start again.

              Remember that flexible plans are the most realistic plans. So go forward and try to follow your financial goals as planned but if for some reason, the plan gets out of hand for you, do not give up on it just yet. This has a lot to do with your psychology rather than any material commitment.

              All you have to do is to stay on the road and vow to stay on it, no matter how much you fall down.

              5. Make Savings a Habit and Not a Goal

              In the book Nudge, authors Richard Thaler and Cass Sunstein advocate that in order to achieve any goal, it should be broken down into habits since habits are more intuitive for people to adapt to.

              Make Savings a habit rather than a goal. While it might seem to be counter intuitive to many but there are some deft ways of doing it. For example:

              Always eat out (if at all) during weekdays rather than weekends. Usually weekends are expensive. Make it a habit and you would in turn be saving a great deal.

              If you are travelling buff, try to travel during off season. Your outlay will be much less.

              If you go out for shopping, always look out for coupons and see where can you get the best deal.

              So the key point is to imbibe the action that results in savings rather than on the savings itself, which is the outcome. Focusing on the outcome will bring out the feeling of sacrifice which will be harder to sustain over a period of time.

              Advertising

              6. Talk About It

              Sticking to the saving schedule (to achieve financial goals) is not an easy journey. There will be many distractions from those who are not aligned with your mission. And it would be rather easy to lose the grip over your discipline.

              Therefore in order to stay the course, it is advisable that you keep yourself surrounded with people who are also on the same bandwagon. Daily discussions with them will keep you motivated to move forward.

              7. Maintain a Journal

              For some people, writing helps a great deal in making sure that they achieve what they plan.

              So if you are one of them, maintain a proper journal, where you write down your goals and also jot down the extent to which you managed to meet them. This will help you in reviewing how far you have come and which goals you have met.

              Use this journal to write down all essential points such as your short term, mid term and long term goals, your current sources of income, your regular expenses which you are aware of and any committed expenses which are of recurring nature.

              When you have a written commitment on paper, you are going to feel more energised to follow the plan and stick to it. Moreover, it is going to be a lot more easier for you to follow you and track your progress.

              At this point, you should be ready with your financial goals and would be doing brilliantly with savings; now it’s time to talk about the big daddy – Investments.

              Making Smart Investments

              Savings by themselves don’t take anyone too far. However savings when invested wisely can do wonders and we are at that stage where we will talk about making smart investments.

              8. Consult a Financial Advisor

              Investments doesn’t come naturally to most of us therefore rather than dabbling with it ourselves, it is wise to consult a financial advisor.

              Talk to him/her about your financial goals and savings and then seek advice for the best investment instruments to achieve your goals.

              9. Choose Your Investment Instrument Wisely

              Though your financial advisor will suggest the best investment instruments, it doesn’t hurt to know a bit about them.

              Just like “no one is born a criminal”, no investment instrument is bad or good. It is the application of that instrument that makes all the difference.

              Do you remember we talked about bifurcating financial goals in short term and long term?

              It is here where that classification will help.

              Advertising

              So as a general rule, for all your short term financial goals, choose an investment instrument that has debt nature for example fixed deposits, debt mutual funds etc. The reason for going for debt instruments is that chances of capital loss is less as compared to equity instruments.

              10. Compounding Is the Eighth Wonder

              Einstein once remarked about compounding,

              Compound Interest is the eighth wonder of the world. He who understands it, earns it… He who doesn’t… Pays it.

              So make friends with this wonder kid. And sooner you become friends with it, quicker you will reach closer to your financial goals.

              Start investing early so that time is on your side to help you bear the fruits of compounding.

              11. Measure, Measure, Measure

              All of us do good when it comes to earning more per month but fail miserably when it comes to measuring the investments; taking stock of how our investments are doing.

              If there is one single step where everything (so far) can go wrong, it is at this step – Measuring the Progress.

              If we don’t measure the progress timely, then we would be shooting in the dark. We wouldn’t know if our saving rate is appropriate or not; whether financial advisor is doing a decent job; whether we are moving closer to our target or not.

              Do measure everything. If you can’t measure it all yourself, ask your financial advisor to do it for you. But do it!

              The Bottom Line

              This completes the list of tips for you to set financial goals and actually achieve them with not so great difficulty.

              As you can see, all it requires is discipline. But guess that’s the most difficult part!

              More About Personal Finance Management

              Featured photo credit: rawpixel via unsplash.com

              Read Next