In A Crisis And Need To Raise Cash Fast? Read On

Are you late on your rent or mortgage payments? Do you need money for day to day living expenses? Do you need money to travel to work? If you’re in a crisis and have exhausted all other avenues, there are several ways to raise cash quickly.

1. Sell Your Property Within A Week

If you need a significant sum of money and own your own property you could consider selling it. The process doesn’t have to take months. Some companies, such as DFWSellFast, will buy your home within a week. Many companies will buy your property as is, without the need for repairs, etc. This could raise a significant sum quickly and help you out of a bind.

2. Get A Part-Time Job

Even if you’re working full-time already, you could consider taking on a part-time job. This is not advisable for long periods of time. Your mind and body need time to rest and recuperate. But a couple of evenings a week or a few hours at the weekend may be all it takes to raise some extra cash. Check out your local newspaper and keep an eye for ads at local stores, etc. Dog walking and pet sitting may also be an option.

3. Sell Crafts

Are you an artist or a craftsperson? Do you make cards, ceramics, jewelry, etc.? If so, there are lots of avenues you could take to sell your products. Sign up to sell at a local craft fair. Or, take your products online and sell via online marketplaces. Approach local independent stores and galleries that have a similar aesthetic. Price your items carefully to allow some markup for selling in stores.

4. Sell Your Stuff

Most of us have lots of stuff that we no longer need. It builds up over the years, and we just move it from room to room. Is there anything you could sell? Old cell phones can be lucrative. And what about furniture, books, CDs, DVDs, etc.? You have lots of options when it comes to selling. For example, you could hold a yard sale and sell everything all at once. Or, you could sell online using services such as Craigslist or eBay.

5. Complete Online Surveys

Many people raise extra cash or coupons by completing online surveys in their spare time. Companies pay for your opinion. All you have to do is complete some online forms.

6. Online Testing

If you’re internet savvy and are used to shopping online, why not get paid for your talents? Countless companies rely on testers to test their websites and apps. This provides them with valuable data to improve their offering. And you get paid for your time.

7. Take Steps For The Future

When you get back on your feet again, it’s important to take steps to prevent this from happening again. Sometimes, despite our best efforts, problems arise, and all we can do is our best to put them right. But taking a few simple steps could help you avoid this happening in the future.

Make Your Cross-Country Move More Financially Viable With These Great Tips

Moving home is something most of us do a few times in our lives. Whether we move a lot as a kid with our parents, or whether you're all over the country for work, it's something that few people are strangers to. However, that doesn't mean to say that it is easy. Moving home can be one of the most stressful experiences life has to throw at us. It is even more difficult if you are working full-time alongside organising the move, and if you have a family too. But whilst moving house is difficult enough, many people take it a step further by moving across entire states. If you are moving to a whole new area, there are a lot of different financial things you need to consider to make the relocation successful.

Choosing the right area

Moving to somewhere you have never actually visited before is a recipe for disaster. Of course, it could all work out perfectly - but would you want to take that chance? Even if you are moving hundreds of miles away, you need to go and visit your potential new home just to make sure it's right for you. If you have children, it's especially important that you consider what colleges and schools are in your new area - plus what the fees are like. Your children's futures depend on where they are located and what you can afford to provide for them. With that in mind, also consider the cost of living in your new home. You may have always wanted to move to New York, but the price of everything from a house to a cup of coffee is significantly more in major cities like this than it is in other parts of the US.

Making the move

Moving day is likely to come around much quicker than you expect, so you need to be prepared! Don't get ripped off by an overpriced haulage company. Find out about certified removals who will be able to help you with a cross-country move. Some of these companies even include extras such as reconnecting your appliances at the other end. If you are moving far away, you will also need to be prepared for the long family journey. No one likes to be broke when they've just arrived somewhere new, so consider what the cheapest form of transport is going to be. Are you just going to fill your petrol tank and drive, or would it be more financially viable to fly there?

Having a little extra

It never hurts to have a little bit of extra money in your savings. But, it is even more important when you've just upheaved your entire life and relocated somewhere new. If you've gone to your new life without having secured a job, it's absolutely vital that you have some savings to fall back on. Speak to your bank about opening a separate savings account with a good interest rate and try to view it as 'emergency money' only.

Uncovering The Terrible Consequences of Bad Debts

Debt should be a good thing - and everyone sees it as such at first. You don’t have enough money to afford a house or a car, so you borrow it. The trouble begins when it turns into bad debt - and there can be severe consequences.

The differences between debt and bad debt are relatively easy to understand. Debt is affordable and can improve your life. Bad debt, however, is not affordable. The impact it has can be frightening, stressful, and it can start to take over your life.

In today’s guide, we’re going to take a look at some of those vital consequences bad debt can have on your household, family, and lifestyle. And we will also give you some ideas for escaping from this ever-increasing problem. Read on to find out more as we uncover the true - and terrible - consequences of bad debt.

The credit impact

First of all, the most obvious impact of bad debt is that your credit report will take a significant hit. Without a decent credit score, you can find it hard to get a mortgage, loan, or credit card. Poor credit ratings can even affect your ability to get credit from a simple store card, or take out a contract on a cellphone. You might struggle to get a plan for your utilities at home, or even rent a home. And it can also have a bearing on your chances of getting a job. More employers than ever are running credit checks before offering candidates jobs. Many people will find it tough to lead a normal lifestyle, just because their credit score is bottoming out.

Higher interest rates

Bad debts come higher interest rates on your loans, credit cards, and everything else you can imagine. As a bad debtor, you are viewed as a riskier borrower than someone with good credit. In simple terms, you end up paying for this risk with a higher interest rate. It means the second you start to spiral into debt problems, you end up paying more. It is critical that you stop this spiral downwards in its tracks to prevent your issues becoming impossible to deal with. Find a nonprofit debt charity or organization to help. Alex Kleyner is the CEO of National Debt Relief. He suggests seeking help from debt relief organizations with A+ ratings from the Better Business Bureau.

Stress and anxiety

People with bad debts live in deep fear. When the phone rings or the doorbell goes, their first thought is that a debt collector is waiting to pounce. Letters will fall through the door with alarming regularity - and demands for payment will increase. But when you have no way of paying, the situation just escalates. It is critical that you address these problems as soon as possible. The longer you leave it, the worse your situation will become. And, the more likely your stress levels and anxiety will increase. Often, hiding away and not responding can lead to these feelings intensifying. However, it’s important to understand that being in debt is not illegal. Tackling your debts head on can help you reclaim some control. Once you start chipping away, you will know it will be possible to get there in the end.

Medical impact

Stress and anxiety are two of the major issues that debt can have on your health. But these two conditions can also lead to other, more dramatic problems. Stress is known to be a cause of stroke, high blood pressure, and heart disease, for example. People with stress are also more likely to develop stomach problems and ulcers, too. And anxiety can lead to severe mental health conditions surprisingly fast. If you have bad debts and your health is suffering, get help as soon as possible. Your doctor will be able to outline a course of action that you can take.

Criminal issues

Having bad debts can also lead you to make desperate decisions. When you can’t find the money to pay people back, there is a lot more temptation to steal, for example. You will also be more open to serious problems such as blackmail. People without money will often do anything they can to survive, and it doesn’t take long for it to happen. Given that most Americans are only one paycheck away from financial ruin, it is a grave concern. While your situation might be comfortable right now, how confident can you be that things won’t change? A job loss or serious illness can lead to you dropping into poverty within a few months - and it can be hard to climb back out. Desperate times call for desperate measure, so it’s vital to understand that even a saint can sin when in debt.

Relationships

Bad debts can also cause a lot of problems in your relationships. Again, stress is a significant factor. There will be many moments of conflict, and it’s a highly volatile situation. Any relationship, no matter how close, can undergo a severe amount of strain. Don’t forget, your kids will be affected by bad debts, too. They will be more aware of your financial hardships than you think. And, they could start missing out on things at school, because you just cannot afford them. In fact, many children in households with bad debts experience stress themselves. Plus, they are more likely to develop mental health challenges as they get older. Be wary of the strain bad debts can place on your relationship. Get help if you need it, and always try to communicate as well as possible.

Working life

Finally, your working life can be affected by your household debts, too. With so much pressure on your plate at home, workplace productivity is likely to take a dip. You will have a lot on your mind, from worries about money to fear of debt collection agencies. Ir is also likely you will miss more days off sick than you used to. The result could be many disciplinaries, and perhaps a termination of your contract. If you are experiencing debt problems, it might be worth talking to your employer. Good bosses should make allowances for you, and they might even try to find you more shifts or work to ease your financial burden.

Big Financial Impacts That You Can Prepare For

Let’s be honest, there are many things in life that are sent to test us. Most of the time these things can have huge financial implications on our lives. Whether big or small sometimes it's best to prepare for the future. Just incase we are ever presented with these situations. With that in mind, I thought I would share with you some of the biggest things that can affect us financially. Hopefully offering you a few tips and advice on how best to prepare yourself for the future.

A marriage break up

Every one of us who enters into a marriage has the intention of it being forever. We make that commitment and that's the end of the matter. But it’s a sad fact that more and more marriages are ending in divorce according to today's statistics. With a divorce comes many sticky situations to wade yourself through and one of those is the financial aspect of it. From your home to the current bank balance it all needs to be sorted and divided fairly. You can’t necessarily prepare yourself for divorce. That is like expecting your marriage to end. But you can ensure you have the best tools at your disposal at the time. Get yourself a good attorney and make sure you keep things as amicable as they can be.

A long term illness

While we can’t predict a marriage ending, we can also become ill at some point in our lives. This isn’t the migraines we tend to struggle with or a sickness bug we have picked up. This is something much more serious like cancer, for example. Thankfully insurance companies offer things like critical illness cover. This means you can prepare yourself for the financial hardship ahead. For things like this you will be potentially losing income, so insurances like this take that pressure away. Enabling you to focus on recovering.

An injury that wasn’t your fault

We can all suffer from an injury in the workplace at some point in our careers. Be that slipping on a wet surface or simply being in the wrong place at the wrong time. Again you can’t prepare yourself now, but it’s an idea to ensure that you know what to do should this situation occur. Preparing yourself mentally and making the right decisions. This could mean having a decent lawyer on standby like Attorney Kenneth A Wilhelm to help you navigate your case.

A problem with your home

Finally, your home can cause you a big expense. Be that your contents get burgled or your home needs repairing. Both situations can end up being very costly in the long run. So it’s important to ensure that you have the right insurance in place like building and contents to make sure you are covered. This means that you can be paid out for the repairs or items you have lost. Meaning you don’t become any worse off paying out for something that wasn’t your fault.

I hope these tips help you in the future.

Close To Going Bankrupt? Here's What You Need To Do

Sometimes people get overwhelmed by the costs of all their debts. You should always try to pay these off in any way possible, even if it means making personal sacrifices. But if you’ve rearranged your finances and can still barely pay your minimum payments, you may need to consider bankruptcy.

People file for bankruptcy when the cost of their debts is far more than the value of their assets. It may happen if you rely too much on loans and credit card allowances. Debt companies will start hassling you if you’re unable to pay them. If you ignore them, they might even take you to court. In these situations, it’s best to file for bankruptcy to put a stop to these financial problems. Here’s what to do.

Assess Your Finances

Filing for bankruptcy is a step that should only be used as a last resort. Make sure you’re not rushing into it without considering other options.

The first thing you need to do is add up the value of all your assets. That includes cars, savings accounts, property, and anything else besides your bank balance. Weigh this against how much you owe. If you’re able to pay off your debts by downsizing your home or selling your car, you need to. Failing to pay your debts will often result in them being repossessed regardless.

You may need to raise your income with a second job. If you’re out of work, you may be able to find other ways to get money. Look at www.yourfinanceformulas.com/2016/10/no-job-no-money-how-to-find-funds-when.html for advice. But there are cases where it seems like you’ll never be able to shirk your debts. Those who are out of a job without many assets to their name will need to file for bankruptcy.

Get A Lawyer

It’s crucial that you have a lawyer to help you through bankruptcy. They will make the whole process manageable for you and make sure you land on your feet. They can advise you on what you’re able to keep and what you’ll have to give up.

Find a law firm experienced in dealing with personal bankruptcies. There are many out there, such as www.robertederlaw.com. It’s a process with many legal steps, so it’s best not to do it alone.

Legal costs may be the last thing you pay for before you go bankrupt. Lawyers will understand your financial situation and offer flexible payment options. It’ll be worth the price to get you back on your feet financially.

Which Kind Of Bankruptcy?

There are two main kinds of bankruptcy people file for. Your lawyer can advise you on which one of these is best for your situation.

Chapter 7 bankruptcy involves liquidating all your assets to pay off your debts. You will lose personal assets such as your home, car, and company if you’re a business owner. Even if you can’t cover the costs of all your debts, you will be discharged and be able to start fresh.

Chapter 13 bankruptcy is advisable for those whose financial situation may get better. It allows you to pay off your debt over a longer period. It works like a debt consolidation plan- but run by the court. 

Bankruptcy will give you a fresh start, so make sure you focus on living without debt this time.

The Mistakes You're Making Right Now That Get You Financial Trouble

When it comes to money, there are a lot of people with a very black and white notion of what makes them financially healthy. If they have enough money to keep paying the bills and keep eating and maybe have a holiday every year, they’re fine. But no, they may very well not be. True financial health is about measuring the opportunities you have, your ability to cope with risk and what you get out of your various dealings. If you’re making the mistakes below, you need to stop before they come back to haunt you.

Not having a budget

True financial health comes with understanding. The first thing you have to start understanding is where your money is going and what it’s doing on a regular basis. A budget isn’t just about cutting down your spending. It’s not about limiting your lifestyle. It’s about seeing you make smarter use of your money. Your budget helps you separate essential bills, non-essential bills, and other expenditures. It also helps you find the room in your money to start building your wealth properly. It doesn’t eliminate spending money on life’s luxuries. It just makes sure you stay in the limits by allocating you spending money without infringing on your other considerations.

Not understanding your net worth

On the much larger scale, you need to figure out the entirety of what you’re worth. Your net worth begins by having as many of your assets value as you can. If you have a home and a car, these are two assets that are going to make up most of your physical wealth. You may very well have other possessions that contribute to that, too. Then your non-tangible wealth needs to be accounted for, too. Bank accounts, IRAs, investments and the like should all be included. Against them, you count any money you owe. Loans, debts and such. Subtract the money you owe from all your wealth. That’s your net worth and that’s how much money in the world you would have if you liquidized everything. The aim of the game, here, is to be well in plus numbers and being far away from the minus.

Not preparing for retirement

It doesn’t matter what age you are. You should be preparing for retirement as soon as you’re able to start putting money together. This is part of what setting a budget is going to help you accomplish. It’s going to help you find some money to start putting towards your future. Even in your 20s and 30s, there’s a lot you can do to make your retirement easier on you. Take advantage of any 401(k) offers your employer makes to you. If they match your contributions, try to get as much of a match as they can offer. The sooner you start saving for retirement, the easier it is to contribute in later life as well.

Using your credit incorrectly

It’s a common flaw amongst younger people in particular. Some people just don’t understand fully how credit works. They’ll dip deep into it for no reason other than to fund purchases they want. Big dips into your credit should be used for investment purposes only. They should definitely not be used as an emergency fund. Nor should you think of credit cards like a bank account. You don’t know what will happen to your income next week or next month. Use the credit card only when it’s convenient to pay it off. Otherwise, you run the risk of falling into serious debt and tanking your credit score.

Skipping the fine print on loans

When you take loans, make sure you understand everything about them. There are a few in particular, you need to think twice about. By releasing equity from your home, you need to understand you run the risk of losing it if things go wrong. If a loan doesn’t take your credit score into account, then it’s likely going to cost more in the long run. Similarly, if someone claims to be interest-free, they could be hiding the truth from you. There’s no doubt that things like interest-free 30 day title loans exist. But there are some that have requirements so difficult to meet to qualify for that no interest that you end up paying a lot more than you bargained for. Always read the fine print when it comes to loans.

Neglecting to prepare for emergencies

As we stated, credit cards and overdrafts are no replacement for an emergency fund. They won’t help you if you, for instance, lose your job. Instead, you will end up getting deeper into debt. An emergency fund is there for that exact reason. Similarly, you should insurance set up on the most valuable of your assets. You might even want to set up insurance to protect your income. Similarly, it’s never too early to start putting life insurance together. You need to have provisions for all kinds of situations. From what happens if you’re injured and unable to work to what you’re doing to do if you get into a car accident.

Sticking to one growth strategy

As well as buffeting yourself from the risks that can impact your finances, you can improve your chances of making gains as well. Your budget can also help you find space to start building your wealth. But it’s not going to work as well if you’re using a diversity of strategies to do so. For example, it’s not enough to just save. It’s a good way of keeping your money safe, but you might find that even inflation can outpace your growth. Instead, you should be investing alongside your savings. But you need to diversify those investments, too, so you’re not putting all your eggs in one basket.

Hopefully, the tips above will help you spot some of the steps you’re taking wrong or were at risk of taking wrong. Start taking steps to do those important financial tasks you’re not doing right now. Your future self will thank you for it.