Emergency Fund-Raising Solutions to Pay Off Debts

counting bills and coins with calculator
counting bills and coins with calculator

Not every aspect of our lives can go on as smoothly as we hope it does. Sometimes, we find ourselves in unforeseen circumstances that can lead us into financial trouble. Wealth can be unpredictable. If we are into investing, investment products’ values are greatly affected by the economy and other factors such as time period and politics. The money that we put in can either have high returns or losses. Therefore, it may not be the best option to rely solely on investments to earn cash quickly.

One unfortunate event that may cause us the need to obtain cash fast is an unpaid debt. Consider an unpaid mortgage due for foreclosure. In this situation, you can rely on a company that says “we buy houses before foreclosure“. This way, you can be saved from lawsuits and other troublesome events.

So, here are other safe and easy ways to earn money fast:

1. Sell Valuables

You can sell your house to a house-buying company, rather than go through the trouble of acquiring debt once again. Many companies can help in situations like this. They could help you sell your house quickly when you’re relocating and you’re struggling to find a buyer. They buy houses in their present conditions, so you are able to save money from costly renovations. You don’t even need a real estate agent any longer, so that means more money saved. Companies can buy a home for up to 80% of its market rate, which is fairly reasonable.

Apart from a house, you can sell other valuables items such as jewelry, designer items, and the latest gadgets. It may be painful to part ways with them, but it’s one of the fastest ways to grow cash.

Designer items have classic and timeless designs. You can sell them fast to friends or dealers because they are still valuable despite being secondhand. For gadgets, they’d have to be top-of-the-line units to attract more buyers.

2. Have a Freelance, Online-Based Job

man doing his work in a cafe

There are at least 13 online jobs that pay more $15 an hour in the USA. Earning from a job may not be as fast as earning from borrowing, but with a job, you don’t have to worry about not being able to pay back your creditor.

Depending on your skills, talent, and experience, there are certain jobs suitable for you. What’s good about these online jobs is that even college students can qualify, so you aren’t required to have an extensive job experience to get hired.

3. Donate Your Plasma

In extreme cases where selling properties and working freelance are not enough to pay your debt, try donating your plasma. The prospect of undergoing a medical procedure to earn money may sound disconcerting, but rest assured that this is done in a legal and safe manner. Don’t get too caught up with the illegal medical practices you see on TV.

The plasma is the clear liquid part of the blood. It has water, enzymes, antibodies, and proteins. Plasma helps create products that treat blood-clotting disorders and other diseases. The process of donating your plasma can take up to an hour and a half, and donors can earn between $20-$50 per donation. If you do it more frequently, you can earn up to $300 a month.

Eligibility is measured by age, weight, and overall health condition. It typically follows eligibility rules of red blood donation. Check plasma donation websites to see if you can qualify.

Seeing that there are better ways to earn cash than borrow, you are now free from the burden of debt again to pay off another debt or to finance a new business. You don’t even need these urgent events to start exploring ways to earn money quickly. You can start now while you aren’t financially responsible for anything yet so that in case of an emergency, you already have sufficient savings to compensate for the monetary obligation.

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