Ways to Access Extra Money Without Borrowing

There comes a time when we all need to get our hands on a bit of extra money. It could be a short-term cash flow problem, or maybe your bills seem to be getting bigger. Whatever your reason for needing access to some extra cash, here are some ways to make it happen without borrowing.

Rent Something Out

If you have some extra space in your house, you could easily rent out a room to a lodger. Of course, not everyone is going to want a stranger living in their home. But if you need the money, it can be a really good way to get it. It’s a continual source of income for you too. Every week or month, the lodger will pay you for the room. And there are other things you can rent out too. Many people are not renting out storage space. It might be attic space that can be used for storing possessions and boxes. Or it could mean renting out the garage to someone who wants to park their car in there.

Try Investing

You could always invest some of your money if you want it to do the work for you. When you invest, your money can grow, but it can also shrink. That’s why you need to make sure that you take on the task of investing with extreme care and caution. You don’t want to go backwards. But if you know what you’re doing, you should be able to make more money. Many people are too cautious and don’t try investing at all, but this is a huge mistake. It can go very well for you as long as you are focused on doing it properly.

Sell Your Most Expensive Assets

If you need a huge sum of money, you could always change the way in which you live and sell your assets. Most of us have some expensive assets that we can sell if we need to access money. It might mean selling your car and replacing it with a cheaper one. Or it could even mean selling your home and buying one that’s smaller. Then the money that you save can be spent on whatever you need to spend it on. There are many companies that buy houses from people like you if you need to access a large sum of money quickly.

Do Odd Jobs

There are all kinds of odd jobs that you can do in your local community if you really want to. There is always someone out there who will want you to walk the dog, do some cleaning or babysit for them. These are all things that pretty much anyone can do. So, if you make yourself available and spread the word around, it won’t be long before you have these kinds of odd jobs coming your way. They might not pay very much, but all those small payments add up when you spend a fair amount of your spare time on these things. Give it a try and see how much money you can raise this way.