Tuesday, May 25, 2010

Ways to Raise Cash Quickly


In today’s economy, quick and easy (and legal I should add) ways of finding cash are in high demand. Many of us find ourselves scratching our heads and wondering what we can do to cover those extra bills. Friends and family are often options, but asking them for money can be embarrassing or belittling. So here are four quick and easy ways to help you rake in some extra green without much effort.

RESALE
First, look around you. What do you see? Probably rarely utilized objects that clutter your home. Books that are collecting dust on the shelves, DVDs you never watch, CDs you don’t listen to, and even the clothes in your closet could all be money waiting to be made. You might want to try sites like Cash4Books.net or SecondSpin.com to see if you have books or CDs worth selling back. Otherwise, stores like Half Price Books will purchase most books, CDs, DVDs, VHS tapes, even magazines that you may not be able to sell by way of the internet. Given, you won’t get what you paid for them initially, but something is better than nothing, right? EBay or eBay stores may also be good places for resale, especially if you have antiques or larger ticket items such as bicycles, cameras, electronic or video equipment, jewelry, coins, and other high value items.

Have clothes you don’t wear or your children have outgrown -- even vintage items? Check your local newspaper or advertising magazines and you will likely find stores that will purchase these types of clothing. They might only choose a couple of items from the bags you bring in, so have a garage sale with the leftovers. Those that don’t sell there can be donated to charity for a tax deduction on the donation.

GARAGE SALE
If you have items that don’t quite fit the resale label but are still usable, a garage sale is another good way to pull in some cash. Take a weekend, put out some signs directing people to your sale and wait for the cash to tumble in. Invite friends and neighbors to join you in your efforts. Increased numbers of items and participants will likely increase the draw of your sale as well as your profits. My mother recently pulled down over $600 dollars at a weekend garage sale with a neighbor.

SELL A VEHICLE
This might sound a bit extreme, but you would be surprised at how many people have vehicles they pay maintenance and insurance costs on but do not regularly use. When I sold my last car, I took it to CarMax. They did a fantastic job of making the resale process painless. I was in and out in just over an hour with a reasonable check for my aging vehicle. They bought my car with no pressure to purchase one of their own, and their sales staff was well-trained and professional.

CUT YOUR EXPENSES
This is probably the easiest money you’ll ever make. It’s simple -- don’t spend so much. That hundred-dollar cable bill is probably not a necessity. I know, I know, you can’t live with out cable, but I bet you can live without two hundred channels. My wife and I recently downgraded our lineup and amazingly still find plenty of shows to fill our evenings while saving money at the same time. The same goes for cell phones, movies, food, clothing, etc. I’m not saying you should necessarily become a miserly hermit, but cutting back just a bit can help bring the cash in quick.

And, if all else fails there always the blood bank…but I’ll leave that for another post.

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