Dear Reva:
As with many others and their job situation our finances are a mess. We are behind on almost every bill. We try to pay our bills but we just don’t have the income anymore. My husband was laid off over a year ago and he took a job making “peanuts,” just so he’d have something coming in. I have gone back to work, but we just can’t get caught up. Our credit has suffered too, so it’s not like I can even borrow the money now. Creditors are calling, National Grid has been at my door. We use to pay on time all the time, and now it’s not possible. We really are desperate and need money NOW. What can we do?
Signed,
Financially Stressed
Dear Financially Stressed:
It is terribly stressing when you just don’t have the means to pay people. Many people are having these issues right now, and are losing homes etc. due to it. Here are some great ways to get extra money now:
1. Dog Walking. Easy job, check in the neighborhood for those with dogs who may want a break and have someone else walk them. Quick and easy cash.
2. Scrap metal. You’d be amazed at what you have in the house, basement, garage, shed, etc. Take it to the scrap yard. Because it is recyclable you will get paid for it. You can even ask others if they have any metal they don’t want and add it to your pile.
3. Yard Sale. Clean out your closets, basement, storage etc. and put it out on the lawn for sale. be sure to advertise, put signs on the main streets for others to see. You can even advertise in the newspaper for very little cost.
4. Get Another job. Even though your husband and you have a job, you may need another one. If making “peanuts”(much less than previously) isn’t getting bills paid, then it’s time he steps it up. I say “HE” because he’s the one making very little and it’s often easier for the wife to deal with the children later at night while he works another job. If you discuss and decide that you should get a second job, then that’s your choice. Every one’s situation is different. A great job for fast money is waiting tables. You get to bring home tips immediately.
5. Start Your Own Business. Some people have great ideas that take right off and earn money fast, such as selling a service, cleaning houses, babysitting, lawn mowing, hauling away things for people etc.
6. Seek Emergency Assistance. Food pantries and social services are places to go for help for food, medical coverage, food stamps and HEAP (have their own office outside of SS). HEAP helps people by using government grants to pay their electrical, oil, and gas bills. If you have young children, check out WIC. It’s a program for women who have infants and children. If you meet the guidelines you can receive grocery assistance, and YES you can be married to receive it.
7. Ebay. Sell stuff. Create an Ebay store.
8. Rent out a room if you can, or spare storage area for someone’s storing needs. Again easy and fast money.
9. Sell items on Craigslist.
10. Get another job by seeking a temporary agency. If you show up on time, and do well, they may keep you aboard.
11. Be a guinea pig for medical testing. (This is not one I advocate for.) The National Institute of Health has over 300 studies for which that they need volunteers.
12. Tap your retirement of life insurance. If you have whole life insurance you can tap into it at any time. Call your business office about the details to tapping into your retirement. Or go into your IRA if you have one…..sometimes there are penalties with doing this.
13. Get a loan. You can from family, or a bank. If you acquire one from family please put it in writing. Make sure you can make payments. Banks can adjust payments.
14. Pawn jewelry, especially gold and silver right now. They are being bought at terrific prices. Pawn other valuable item.
15. Sell your plasma (blood can be sold to some banks) or your hair. There are online stores that buy “real” hair for wigs and they pay you a nice price as well. (They usually want at least a foot in length.)
16.Roadside Sales. Sell some items such as flowers, soda, or baked goods at a busy road side at the 5 pm traffic hour. You can pull in some quick cash doing this. Be sure there are no city or town certificates or DBA needed before you begin.
17.Go Scavenging for cans to recycle.
These are some ideas to start with, however, before you go hock your grandmother’s antique diamond ring, check with your credit card companies for help. Many of them understand the problems that have risen in our country and are rather sympathetic. Call your mortgage company and see if you qualify for some of the new Obama installed assistance for keeping your home.
Also seek advice from a professional or at least someone who you can trust to look at all your financial problems and help you with a solution, a friend, pastor, someone with monetary sense. You also may need to call a credit counselor. They can adjust your bills, get you little or no interest charges and you pay them one lump sum monthly and they pay your creditors. Many people ask, “But, does this hurt my credit score even more?”
My answer usually is, how bad is it now? If it’s to the point that it doesn’t matter, do it. If it’s almost to that point, do it because it will be to that point soon, unless you can draw more money in. And although using a credit counselor to be the “go-between” on your behalf with creditors is frowned upon and may lower your credit score, you won’t have harassing phone calls anymore, and you will have a little more financial freedom (because the creditors get your payments lowered.) You will also be less stressed out. And let’s face it, do you have the credit to go get a personal loan to consolidate all this? If you do, you probably would have by now.
So my advice in a nut-shell is, first, get someone to confide in and some sound financial advice. Second, if needed call a credit counselor, to see if they can help. By the way, you can always call to see what they can do for you and what plans they have, but you do not have to use them if you decide they are not for you. Third, use some of the ways above to bring in extra cash.
Lastly, don’t do anything crazy or illegal. It’s not worth it. If worse comes to worse, sell your home before the bank can and find a cheap apartment or even live with family for awhile. Then there’s always that “B” word I have been avoiding…. If all else fails, some people may need to see a lawyer and file bankruptcy. It stinks, I know, but you could be facing worse things in life. Remember this is only for a season, you’ll work hard and soon you’ll find yourself on the upswing.
Stay happy. Live healthy.
~Reva


