Life is tough, and we all face numerous ups and down in life. These days when layoffs have become a scenario, saving has become an imperative task. But what happens if you suddenly realize that you have no money at all? We are not talking about can’t-afford-to-go-out-on-fancy- dinner problem; we are talking about having no cash with no hope of any money coming in for the next few days.
Perhaps you have emptied your bank for some emergency, or you have been fired, or you have exhausted your saving, we can help you out from this exhausting situation. Check out the listed options below:
Use your cards wisely: If you are expecting to get money in the next few days and you only want to battle a few days, then you can swipe your best credit cards in times of dire need. And no, we do not mean that you use your credit card to fund your fancy dinner. We are just asking you to use your card judiciously and meticulously. If you think that by swiping your card you will overspend then it is better that you hide your card in your closet.
Redeem your credit cards points: If you have been an avid credit card user, the chances are that you have collected several points which can now be redeemed against gift voucher, travel tickets, shopping vouchers, etc. If you are short on cash, then you can redeem your card points and sell the same to your family or friends. E.g., if your friend is looking to travel, you could redeem your points from your best travel credit card and sell it off to your friend. You could also offer some upfront discount like you could sell a lifestyle voucher worth Rs. 500 for Rs. 400, so that it becomes a win-win situation for both of you. Moreover, your friends could also recommend his other friends to buy vouchers from you; this could easily solve your cash crunch problem for some days.
Freelance/ Side job: When you are in dire need of money you need to take some drastic steps. If your spending is more than saving, then it’s time for you to support your spending with an additional job. You could take do part-time money making activity like taking tuitions, doing projects for students in exchange for money, etc. You could also start taking up freelancing jobs that you could complete in your free time. You should also start looking at ways to reduce your spending so that your savings increase eventually.
Earn from cash backs: If your roommate or friends are going out for dinner and shopping, then you could also ask them to use your card if any offer is going on it. For example, is a sale is going to the mall and if your shopping credit card has a 5% cash back offer. Ask your friend to swipe the card and spilt the savings into half.
Sell items which you don’t use: Everybody has a number of items that they don’t need. Look around you will find some old furniture or items that you don’t use anymore. Maybe you have two or three old spare phones, or you have a rocking chair that you don’t use anymore. Sell in on sites like quick or Olx and get some quick cash without any hassle.
Save on your rent: If you are staying on rent, then the chances are that the rent burns a huge hole in your pocket, try and shift in with a friend or relative for a few days. If that is not possible then look for a place that comes with a lower price tag.
Having all said and done there is no denying the fact that you need to start saving buy control your urge to spend. Try and make a budget and stick to it. You also need to keep at least 10 to 20 % of your earning for saving up. http://pointsbycard.com/ will help you manage money and also help you maximize your card benefits. You can also search our site for site hacks and other fun stuff. So what are you thinking! Start saving and enjoy our life hacks.