The Need Money Now Strategy
If you urgently need money now then you’re probably knee deep in trouble. If that’s the case, the one thing that wont help you are all of the “get a loan instantly” sites. You might as well consider them loan sharks. They’ll take everything you’ve got for a tiny loan and if you life isn’t already screwed up, they will be sure to do that too.
If you do need money now, do yourself a favor and check out some clever debt reduction strategies in the Can’t Pay My Mortgage post or the Debt Relief for Dummies post for some quick help. You probably got into your current mess by taking crappy loans, don’t perpetuate the cycle! Remember – Quick, high interest loans are not the answer!
For the rest of you, we will get you money now, but only a little bit. See, just like losing weight, building a huge cash hord and digging yourself out of debt is very possible – it just requires focus and determination. Those 30 pounds didn’t just melt off of you, and likewise you’ll need to do your fair share of work to stop the leaks in your spending.
Step 1 – Budget
You need to know what you’re spending before you can begin to address your money problem. I think if you check out the below articles you should have enough knowledge to take care of this step. The reason you need money now is because you’ve neglected this step for too long! Nobody became financially secure by spending all their money.
18 Lessons I Learned From Being Broke
I'd like to share 18 personal finance lessons I've learned over the past 30 years of being broke and living paycheck to paycheck.
Being Wealthy is a Choice
Very few people wake up one day and just become wealthy. Being Wealthy is a choice that you make and a way that you live your life. Work less, live more!
Budgeting for Dummies: The Complete Guide
Stop stressing over money. Just automate your finances so the computer can worry about the details, not you. In Budgeting for Dummies we show you how.
Step 2 – Ways to Save
Having completed Step 1, we now understand where we are spending our money. Knowing is half the battle when you need money now. The other half is slicing out the fat. It definitely wont be easy and in some cases you’ll need to make some tough decisions but a few weeks down the line you’ll be much happier and much wealthier. Remember, the easiest way to save more money is to spend less. For that, we must optimize our expenses.
How I Save a Ton on Travel Expenses
Why should you overpay for your vacation? I save a ton on travel and there is no reason you can't too. It's easy and the tools are free, come learn more!
7 Unique Ways to Save Money (Rewarding Yourself with a Brew)
Joel Larsgaard provides 7 ways you can save money, and as a reward to yourself, the perfect craft beer pairing.
Always Save when you Eat Out
Here are a few tricks to help you save when you eat out so you can go out more often and feel less guilty. You could save up to 60% before you arrive!
Step 3 – Increase your Income and Be Productive
One of the easiest ways of getting money is to make more of it. If you want to make more money at your job you don’t need to put in 80 hours or wait until your manager dies so you can take his job. There are a few easy things you can do right now that will pay you back in spades later. I got my first job out of college that paid 25% higher than the Average US Household Income at the time despite the fact that my GPA was a 2.3. Once I started understanding how things work I was able to bump my salary by over 165% over five years. I will be trying to write everything that I’ve done to achieve this in these posts so that you can do the same!
Alternative Ways to Make Extra Money
Want to make extra money? Of course, we all do. This list contains real, sustainable ways to help you continue to make money and improve your lifestyle.
Inbox Zero Will Save Your Life
Inbox Zero follows the GTD philosophy as a great way to keep your inbox clean and under control. We discuss what it is and killer tools used to achieve it.
Get Organized Already
Finding success is not difficult and is absolutely within your reach. You just need to get organized already and break big goals into small manageable tasks
Step 4 – Make Your Savings Multiply
We’ve budgeted, optimized and hit up a ton of merchants for free cash. Now that we have a savings account (which we were paid to open), and it’s starting to get full with cash (from spending less), it’s time to make these savings work for us. We should be increasing our wealth while we sleep. Everything in here is low risk and low effort. I want you to have the piece of mind that your money is safe and growing while you focus your mind on other important things like your family, xbox, etc…
The Betterment Experiment
You know you have to invest your money but getting started is a scary prospect. That's where The Betterment Experiment comes in.
The No Effort Investment Strategy
You have savings but no time to put it to work. I understand. That's why you need a no effort investment strategy. Set it and forget it with no worries.
Invest like an Expert Without Being One
Originally, to invest like an expert you needed advanced training and a ton of time. Now you just need to know the right tools and have 25 minutes to spare.
Step 5 – Advanced Savings Techniques
For people that are ready for a more hands on approach (and a bit more growth potential), this section is for you. There will be risks here and I will be sure to outline them and caution you. It will take a bit more work than a “set it and forget it” strategy, however you don’t need to be a rocket scientist to make gains here. Just remember take the risks seriously.
The Need Money Now Strategy Resources
Achieving financial security comes from learning best practices and being able to control yourself and your spending. That said, there are a ton of tools out there that can make things really easy for you. They may automatically budget for you, help regulate your investments automatically, get you automatic savings when you do spend or even challenge you to improve saving by giving you cash prizes! Below are a few resources that I’ve found are extremely helpful in your “need money now” quest :)
Not everybody has time to meticulously manage their investments. In fact, it usually doesn’t make sense since 79% of all money managers don’t beat the market!
If you have good to excellent credit, this card is worth your time. Reward points are competitive with the best cards out there and their customer support is awesome. I haven’t had a bad experience and I’ve used it pretty much everywhere I’ve been.
They are the only free integrated tool that will track all of your debts, help you come up with a solid debt reduction plan and remind you when payments are due. If you upgrade to their paid tier you can also have them schedule and make debt payments for your basically automating the entire process and we’re all about automation here.
A really great free budgeting tool. I use it and if you’re just starting out, I think you should too. If budgeting scares you, just follow my step by step budgeting guide.
For the full list of resources I use to manage my finances, click here.