10 Ways to Raise Money Quickly to Pay Bills

Nick Making Money sponsored post 4 Comments

We’ve all been there. An unexpected bill comes in and you don’t have the money in your account to pay it.

There are various possible solutions to this dilemma, so in this article I’ll set out some options that are open to you.

1. Short-term borrowing

If you know you will have the money within a few weeks, short-term borrowing can be a sensible solution.

If you have a credit card – and can pay the bill this way – you can take advantage of the interest-free period. So long as you pay off the balance by the due date on your monthly statement, it won’t cost you anything extra. I don’t recommend drawing cash using your card, however, as interest starts to accrue immediately if you do this and rates are generally high.

Short term loans are another possible solution if you need help paying bills. This method has the advantage that you get the cash straight into your bank account, and if you apply online you can often access the money within a day. Clearly if you use this method there will be interest to pay, so look for a company that will let you pay off the entire loan at once and aim to do this as soon as you possibly can.

2. Selling on eBay

Another good solution if you have a bit of time is to have a clear-out of things you no longer need and put them up for sale on the online auction site eBay. All sorts of things sell here, and if you have never tried selling via the site you will be pleasantly surprised by how easy it is.

Basically, you just log in and go to my eBay, then click on the Start Selling button. Enter a short description and eBay will display some similar items, each with a message under it saying “Sell One Like This”. Click on that and you can use the item in question as a sort of template (although clearly you shouldn’t copy it word for word!). This can be a great way to raise a useful sum of money quickly, and as long as you are selling your own possessions (not buying to resell) it’s tax-free too.

3. Visit a Car Boot Sale

This is the low-tech option for selling unwanted goods, but it can work very well as a way of generating cash quickly. Check the local paper for sales in your area – they are generally held at the weekend. You can also do an online search for “Car boot sales in Mytown” or whatever.

When going to a car boot sale, aim to arrive early to get a good spot, and take plenty of change with you. Assume everyone will want to pay with notes! Know the price you want for the products you are selling, but be prepared for people to haggle. It’s generally best to ask for a bit more than you expect to get, so you have some room to negotiate.

4. Sell on Shpock or Local Facebook Pages

This is another good option for selling unwanted items. Shpock describes itself as “the boot sale app”. It’s available for both Android and iOS. You can advertise products to people in your area via the app and buyers will come to collect the goods in person. This and Facebook local pages can be good ways to sell anything which is difficult for whatever reason (e.g. size or weight) to send in the mail.

5. Sell Unwanted Gift Vouchers on Zeek

If you have unwanted gift vouchers, did you know you can sell them for cash on the Zeek website? Both physical and electronic vouchers can be sold (and bought) this way. Obviously you won’t get the full face value and there is a modest charge to pay. But if you’re in a fix and need money fast this is definitely worth considering, especially if you don’t have any other use for the voucher/s concerned.

6. Try Matched Betting

This is a money-making method I have described on various occasions on this blog. It’s a way of making risk-free (and tax-free) cash by taking advantage of bookmaker special offers and promotions.

Matched betting is perfectly legal and (done properly) it’s not gambling. You can join an advisory service such as Profit Accumulator or Odds Monkey and they will take you through two or three money-making opportunities for free. After that, if you wish to continue, there is a small monthly charge. Note that matched betting may not be an option if you live in a state or country that bans online betting.

7. Get Temporary Work

Jobs may be harder to find these days, but there is still plenty of short-term/temporary work available if you look for it. Some of this is seasonal, e.g. many companies take on extra staff to help them cope with the Christmas rush (Amazon being one well-known example). Another option is helping at elections, e.g. as a poll clerk or vote counter. It is generally a long day but decently paid. Inquire with your local council if there are any opportunities in your area.

8. Become an Extra

If the prospect of appearing in TV shows or movies doesn’t put you off, being an extra has much to recommend it. The work is interesting and varied, although it can also involve a lot of standing around, and doing the same thing over and over until the director is satisfied with the shot. You won’t get rich working as an extra, but the pay isn’t bad either, and you get free meals as well! Apply via an extras agency in the first instance.

9. Do Online Surveys

This is another popular option for people wanting to raise money. Payments aren’t generous but the work isn’t too taxing, and over a few weeks (or longer) you can generate a decent sum. Prolific Academic and Panelbase are two of my favourite survey sites, but there are plenty more around if you look for them.

10. Offer Your Services as a Freelance

There are lots of possibilities here, from copywriting to photography, social media management to website design. Set up accounts on sites such as Upwork and People Per Hour and you will be able to bid for any job advertised that suits your skills and talents. Admittedly it can take a little time to get established on these sites, but once you have your first few jobs under your belt (and good feedback from clients) more work is very likely to follow.

I hope the list above will give you some ideas of ways to deal with cashflow problems caused by bills. If you have any other comments or suggestions, as always, please feel free to post them below.

Disclosure: this is a sponsored post for which I am receiving a fee.