No matter how fiscally prudent you consider yourself to be, there will almost always come a time in your life when you need to get more money together quickly. Whether it be to pay for unexpected medical bills, car repairs, or just to save money for that dream trip away, below are some tips and tricks that will help you generate money quickly.
First things first – set a target amount
Often the amount of money you need will be dictated by external factors (e.g., the medical bills example given above) – however, other times, the exact figure will be less clear (for example, saving for house refurbishments or a holiday). So rather than just resolving to start saving, you should set a figure that you can work towards. You’ll be far more likely to succeed if you set an attainable goal than if you just have a general aim of getting cash behind you.
Ways to cut your expenses and make money
From reducing your expenses to finding ways to earn extra cash, there are numerous tips and tricks you could try to start saving quickly:
- Automate saving by using a banking app: Most banks (particularly online banks) now have their own apps to help customers stay on top of their finances. If you find it difficult to put money behind you when you get paid, try setting up a regular payment to be taken from your wages. Before you know it, you won’t even remember the fact you’re saving money each month and will just get used to the lower amount you have available. Also, many banks now have a ‘round up’ function which will round up your payments to the next unit (either 1, 5, or 10), meaning you’ll be saving money each time you pay with your card.
- Sell the stuff you no longer want or use: While most people don’t particularly consider themselves hoarders, if you take a long hard look around your home, you’ll likely find a whole load of stuff you no longer want or use. As a general rule, if you haven’t used an item within the last six months, you probably don’t need it. There are now countless online seller sites like eBay where you could sell your unwanted items to make a little extra cash.
- Take on freelance work: Obviously, the more money you have available, the easier (and quicker) it will be to reach your target. Freelancing will help you save extra money without committing to another job and can be one of the fastest ways to generate more funds. These days there are multiple options available for freelance positions – particularly if you search online. For example, if you were interested in courier jobs, many sites now offer billboard adverts from potential clients that can help couriers looking for work. Try having a no-spend day, once a week: You likely won’t save a huge amount by having a day of zero spendings, but it can work wonders for training your brain into thinking more about how you spend. Thinking more carefully this way about money could help make you thriftier further down the line.
