Have you fallen on hard times? Don't let your financial situation keep you down. Here's what you need to do if you need money for rent ASAP!
There’s nothing quite like the sinking feeling of rent coming due… and you’re dead broke. When almost half of American families struggle to pay the bills, it’s a feeling that’s growing more and more common every day.
The good news is, there’s something you can do about it. Finding quick solutions to a cash shortage is easier than you think.
Let’s look at several things you can do when you need money for rent.
Sell Your Stuff
Chances are, you may already have the answer to your money troubles sitting around your house. When you find yourself short on cash, look around to see what you can sell.
Maybe you have a TV in the spare room you never use. Or there’s some jewelry from an ex you’d like to get rid of.
Take anything you have to a pawn shop, consignment shop, or sell it online. You can even have a garage sale if you have enough items.
Talk to Your Landlord
Talking to your landlord is usually the last thing you feel like doing when you can’t pay rent. Yet, letting them know upfront can go a long way.
As soon as you know you’re going to be late with your rent, contact the landlord. Many times a landlord won’t mind a payment that’s one or two weeks late as long as they’re notified. That helps to buy you some time to gather your funds or get another paycheck.
Borrow Money
When you’re short on cash, sometimes the fastest way to settle debt is by borrowing money.
Secure a personal loan or no credit loans through a bank or credit union. Shop around to find the lowest APR and make sure the payments fit into your budget.
Or consider borrowing from family. Establish ground rules that both parties are comfortable with. If paying it back will be a struggle, offer to work off the loan through other means, like personal chores.
Get a Side Hustle
Creating a side hustle is a great way to form an extra source of cash when you need money for rent. The convenient thing is you can schedule it around your existing schedule and earn money any time you need it.
Drive your car for a rideshare service. Do something simple like walking dogs or mowing yards. If you have a desired talent like writing or designing websites, consider doing some freelancing work.
Trim Your Budget
To make sure you don’t repeatedly come up short on rent every month, trim back your budget.
Can you cook at home more rather than eating out? Do you need all those cable channels? Or how about canceling that gym membership and working out at home?
Small cuts can equal up to big savings. Putting a stop to wasteful spending can give you needed money for rent each month.
Find Easy Cash When You Need Money for Rent
Stop dreading the first of the month. By knowing what to do when you need money for rent, you will always have a plan of action if you find yourself a bit short on cash.
Looking for more ways to save money? Check out the articles in our Lifestyle blog!