Sometimes, family finances can get a little tight. You think that you have enough money in the kitty to see you through the rest of the month. But when it comes to actually paying all the bills and having some money left over for fun, you suddenly realize that you have less than you originally thought.
Fortunately, there are several things that you can do to give your family the cash boost that it needs. You don’t have to continue scraping by, just trying to make ends meet. There are ways out.
Ask For Early Inheritance
Older relatively rarely need or use all of the money that they have. So, in many cases, they’re willing to pass it onto other members of the family, especially if they are raising children.
It’s a good idea, therefore, to raise the subject with older relatives. Often, it makes more sense for you to have the money now than in the future. Waiting can often seem silly and pointless.
Sell Your Annuities
Selling annuities is another powerful strategy that you can use to free up cash and invest it more wisely. Annuities are financial instruments that insurance companies sell promising you a fixed income in the future. Unfortunately, they can take large cuts for themselves, leaving you out of pocket. Selling, therefore, can free up the cash that you need right now and potentially leave you better off in the future, depending on your financial circumstances
Asking for a raise sometimes works. But the most effective way to increase your income is to simply switch jobs. Often, you’ll get a much bigger pay boost compared to staying with the same company long-term.
Freelance On The Side
You don’t have to give up your main job to become a freelancer. In fact, it’s something that you can do for a little bit of cash on the side. Freelancing is incredibly effective for generating extra money in the evenings and weekends. And if you get really good at it, you can sometimes abandon your regular job altogether and just work for side gigs.
Give Local Tours
If you live in a tourist city, you can give your family a cash boost by providing tours for tourists. Guides receive surprisingly high pay because of the skills they need and the responsibility they take on.
Become A Mystery Shopper
You can also try becoming a mystery shopper. Companies hire you to test their customers’ retail experience.
Rent Out Your Car
Another idea is to rent out your car when your family isn’t using it, especially if you have two vehicles on the drive.
Sell Things You Don’t Need On Ebay
If you’re like most families, you probably have an enormous quantity of stuff that you no longer use or need lying around the house. Individually, these items often seem worthless. But combined, they can actually add up to a lot of money. Selling old bikes, tents and garden furniture could net you thousands of dollars in additional income.
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