In an ideal world we’d all have an emergency stash of cash for unforeseen circumstances or some wriggle room on the mortgage to draw down a few dollars.

But there are times when nothing is available and you need cash desperately to pay a bill or the credit card is due.

So where can you find a quick $1000 to get you out of strife?

Some people are forced to companies offering so-called “payday” loans at exorbitant interest rates.

There are easier and cheaper alternatives it you think about it.

. Offer your services

Use your Facebook and Twitter to spread the word that you’re available to help friends… at a reasonable rate. It might be babysitting, ironing, cleaning, gardening or moving. I’m amazed at how people don’t think of their social network to look for work and extra cash. And the response can be instant.

. Change Your Shopping Tactics

How much do you spend each week on feeding, clothing and entertaining your household? There has to be big savings simply by changing your shopping habits. Start a shopping co-op with some friends and buy in bulk at markets; do a big shop at a supermarket rather than hurried daily purchases at more expensive convenience stores; take a shopping list and stick to it (no add on biscuits); buy specials and no-name brands.

Websites like Living Social, Daily Deals and Star Deals now offer ridiculously low prices for services and goods for a limited time. The more people you get to join in on the offer, the lower the price gets, and can sometimes be free.

But they come with a string of conditions.

. Selling online

Everyone has items around the home they no longer need or use. And as the saying goes, one man’s trash is another man’s treasure, so why not sell it online?

A recent research report found the average house has $7500 of unused goods ready to be sold. These days with eBay Classifieds, Gumtree and vintage/handmade specialty online marketplaces you can list items to sell without listing fees, and simply pay a small percentage of the sale price at the end of the transaction.

Hint: the best way to hook buyers is by having great photos and a detailed description of the item.

. Garage sales make big bucks

Why do we only have a garage sale when we move house. Make it an annual event and clear out the junk you simply don’t need. It is amazing who buys other people’s junk and what they’ll pay for it. But make sure the garage sale is professionally organised. Market in the area (schools, community noticeboards street signage), organise the items in to categories to make it easier to browse, make sure you have enough change to settle purchases and be an animated salesperson.

. Do a family budget

I know it’s boring, but sitting down and doing a family budget is the most critical starting point for finding that hidden $1000. Basically none of us really know, down to the dollar, where we spend our hard earned cash… and where we can save. A budget will make those savings obvious.

. Cut down on transport costs

Do you really need that car with the cost petrol, maintenance, insurance, parking and rego. The running costs can be staggering. Do the maths. How often do you use the car, what for and how often. Then look at the alternatives. Our son finds it cheaper to use public transport, taxis and car sharing schemes like Go Get and Flexicar on the weekend for social occasions.

. Attack the mobile

Mobile phone usage is getting just plain ridiculous. Start by thinking whether you really do need to have that frivolous conversation with a friend and maybe switch to a pre-paid card rather than a plan. A pre-paid card means you can set a limit on the monthly mobile spend and it becomes a good discipline on whether you really need to return that call or not.

. Take your lunch to work rather than buy it

It may not be cool but it will save you a packet. You can either pay $9.80 a day for a ham, cheese and tomato along with tuna and mayo sandwiches plus a diet coke or spend a dollar on making it at home. That’s a saving of $8.80 a day, $44 a working week or over $2,100 a year.

. Give up smoking or cut down on the grog

If you were impressed by the savings of taking your lunch to work, you ain’t seen nothing when you compare it to cutting back on the smokes or grog. Now we’re not suggesting you live like a nun but, hey, look at the result. Atleast think about it.

. Moonlight

Maybe you’re good at sewing or painting and can do a deal with a local shop providing goods on consignment or selling through a stall at the local markets. Turning that passion or hobby into a part time job can be fun and a good little earner.

Comments  

 

0 #2 Jody 2012-08-18 08:07

thanks kochie i know its ridiculous to buy lunch every day yet i do & so do my freinds. that alone will save money i lost my home at the beginning of the year and i am already saving money there but waisting it by over indulging my kids out of guilt. i appreciate the advice and will trial it for the next month to save for my car rego. fingers crossed ill let u know how i go.

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0 #1 2011-09-16 11:27

It would nice to find that spare $1,000, but my single income, paying a mortgage and having only one car to get to and from work. We spend $ 70 - $ 80 per week on food and everything is home cooked and lunch always taken to work. There is no room for meals out, I don't smoke or drink alcohol and unfortunately no time left at night to fit in extra work (that would be wonderful) and no one to mind my daughter to "moonlight". My mobile is used for emergency at $ 29.00 per month. I don't have an iphone or anything fancy... the thought was nice to make an extra $ 1,000 but I still don't know how unfortunately and it would be nice for some of the bills that are in at the moment... Thanks for the information though, I will still see if there is something in that "family budget" left that I may be able to put away...

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