It can happen at any moment: an arrangement ends, a job is lost, your car breaks down and tuition is due. Often times when financial problems hit, they hit hard. You first instinct may be to panic, but if you take a moment to breathe you will realize that there is solution for every problem.
You probably thought I was going to tell you that the solution to your financial problems was to join SeekingArrangement right? Wrong! Hitting financial rock bottom means it is time to take a break from the Sugar Bowl. Yes, your read that right: do not enter the Sugar Bowl in a moment of desperation. It may sound like counter-intuitive advice, but just keep reading.
When you are desperate for cash, you may feel that you have no choice, so you accept any POT that comes along. That mentality makes you prone to accept subpar conditions, shady people, and unsafe situations. Don’t sell yourself short in the Sugar Bowl because your self-esteem may suffer and you will only create more problems for yourself.
Be practical. You can dive in the Sugar Bowl when your life is a bit more stable, but right now you need to figure out how to alleviate your financial burdens without reeking of desperation. Dealing with a financial snag can be stressful, but by lowering expenses and finding additional sources of income you will be flush with cash again in no time.
The goal here is to find a quick way to lower costs on housing, transportation, food and other essential living expenses.
Are you leasing a car? Go to dealership and turn it in. Do you have car loan payments? Talk to your loan holder and see if you qualify for a lower payment.
Is your cell phone plan too expensive? Many companies are offering to buy you out of your contract if you switch to their company, they even offer you a free phone. Just make sure the new bill is something you can afford or consider doing a no-contract plan.
Cable TV? Do you really need that $120 bill? Return your cable box and look into a streaming service which will run you less than $20 a month.
Gym membership? Cancel it. Get creative, go for a run outdoor, ask a friend to borrow some workout DVDs or lookup some free workouts on YouTube.
Occasional expenses you can forego include the hair salon, manicure, pedicure, tanning, eating out, monthly subscription services (make-up, workout clothes, shoes). Put these on hold until you get your finances in check.
Make Immediate Cash
Scoop up all of your unused gift cards and kiss them goodbye, even partially used gift cards can be sold or traded immediately at Card Cash. Trading will stretch dollars further if you can you should opt get a basic Target or Walmart cards to buy food and other necessities.
Consign used designer goods like purses, shoes and accessories on websites like Real Real. You can also sell things you no longer need on eBay or Craigslist, but of course these sites require a bit more work on you end.
There are lots of odd jobs that offer quick cash and zero long-term commitment so when you want to make extra money you can, but you are don’t have the time you aren’t obligated. Pet sitting, dog walking, babysitting and running errands are all services that your neighbors, family members and friends pay people to do. These are immediate flexible cash generators that allow time to look for full-time jobs, go on interviews and go on POT meet and greets.
Don’t let your ego get the best of you
Everyone struggles financially at some point, there is no need to feel ashamed. There is no shame in cutting expenses and working part-time off jobs until you get back on your feet. In fact proving to yourself and those around you that you can bounce back after a financial setback will increase your self-esteem and teach you how to rely on yourself.
Once your life has settled down and you are no longer scrambling for cash it is now a good time to get back in the Sugar Bowl and remember being smart with your Sugar finances will make it less likely to find yourself dealing with a financial snag again in the future.