The Need Money Now Strategy

I Need Money Now!If you urgently need money, you’re probably already in some trouble.  If that’s the case, the one thing that wont help you are all of the “get a loan instantly” sites.  They are modern day loan sharks.  They’ll take everything you’ve got for a tiny loan and huge interest. Whatever problems you have, this “solution” will surely make things worse.

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 may have gotten 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 hoard and digging yourself out of debt is very possible – it just requires focus and determination.  Those 30 pounds didn’t just magic away. Likewise you’ll need to do your fair share of work to stopper 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!  No one becomes financially secure by spending all their money.

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18 Lessons I Learned From Being Broke

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Being Wealthy is a Choice

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!

How to Budget Money for Dummies: The Complete Guide

How to Budget Money 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 our money is going.  Knowing is half the battle when you need money now.  The other half is slicing out the fat.  It’s not always 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.  To do that, we must optimize our expenses.

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How I Save a Ton on Travel Expenses

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Step 3 – Increase your Income and Be Productive

One of the fastest ways to get more money is to make more of it.  If you want a raise at work, 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.

My first job out of college paid 25% more 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 more than 165% over five years.  I’ve shared some posts explaining how I did it so you can do it too!

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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.

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Inbox Zero Will Save Your Life

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Get Organized Already

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Step 4 – Make Your Savings Multiply

We’ve budgeted, optimized, gotten a raise at work.  Now that we have a savings account (which we were paid to open), and it’s starting to fill up 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 peace of mind that your money is safe and growing while you focus your mind on other important things like your family, xbox, etc…

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Betterment Review – An Experiment with My Money

You know you have to invest your money but getting started is a scary prospect. That's where The Betterment Experiment comes in.

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The No Effort Investment Strategy

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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 Investing 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, but 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.  There are a ton of tools out there that can make things really easy for you.  They can budget for you, help regulate your investments automatically, find you 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 :)

For the full list of resources I use to manage my finances, click here.