There are times in life when you need to free up some money, fast. This could be because you have mounted up quite a few bills on your credit cards. Or, it might be that you have been made redundant and are currently struggling out of work. At points like this, you need to make sure that you get money in your hand as quickly as possible. Otherwise, you can end up in the position where your debt increases and the situation gets steadily worse. So, how do you free up some capital when you desperately need it?

Attic Hunting

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The first recommendation is that you do take a trip up into the attic or down into the basement. There you might find family heirlooms or collectibles that you have gathered together over the years. You might even find old toys that your kids have grown out of and no longer play with. You might be surprised just how much some of these are worth on eBay. Particularly if you have the whole set and they are in good condition. So, once you find a few things that you think might be worth something, do have a search on eBay. You’ll probably find that there are already people selling them and this should give you an idea of what prices to use.

Do bear in mind, that if you choose to sell on a site like eBay, you need to make sure that you are a reputable source of items. To do that, it’s easy. You just need to make sure that you have bought a few items, they can be as cheap as you like and gained a solid base of reviews. At that point, your profile will hit a positive score, and from there, things can be very easy.

This is the best solution if the amount of money that you need is somewhere around a few hundred. Anything more than a thousand and you might need to look at other options.

Pawning Other Home Items

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You’d be amazed by how many items in your home are actually quite expensive. You might have a dishwasher, a UHD TV, some rather stunning sofas in your sitting room and perhaps even a few pieces of expensive artwork on your wall. If you need to free up a few thousand in cash, you might want to think about taking some of these appliances, equipment, and items down to a pawn shop. The owner will give you money for the items, perhaps on a temporary basis. Once your financial situation improves, you should be able to buy them back, assuming they haven’t already been sold. This could be just what you need to get back on your feet.

If you have kids, it can be difficult to explain why something like this is necessary. If your kids are quite young, there are a whole range of white lies you can tell to make it easier for them such as upgrading the home or getting the furniture cleaned. Older children are typically more astute, and often honesty is the best policy. They might surprise you with how understanding they can be.

Downsizing

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You might be tens of thousands of dollars in debt. No one ever expects to be in situations like this, but all it takes is a little bad luck, and you will soon be on a downward spiral. At a certain point, you may be in a position where you need to think about selling your property and downsizing. Or, moving in with friends or family while your financial situation recovers. The benefit of this is that if you have a home to sell it should be more than enough to pay off any debt that you have accumulated. But, you do need to make sure the house can be easily sold for the lowest price possible and that you can move into a new home with minimum costs.

You’ll certainly need to speaking to a conveyancing firm. With a conveyancing service when you buy your smaller home, you should find that getting the rights to the home is easy and quick. You will, however, need to look at conveyancing quotes online to make sure that you get the best, cheapest deal. Remember, if the costs of moving to a smaller home or two expensive it will nullify the reasoning behind selling the first house. That’s why you should price check all the services you are using and guarantee you are getting the best deal.

If you aren’t buying another smaller home and instead you decide to move in with family, it can be quite a challenge. Particularly if you are proud. It can be difficult to come to terms with your position and even ask for this type of help. But you just have to remember that by taking a step like this, financially you will be making things a lot easier on yourself.

Consolidation

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The final possibility that we need to think about is consolidation. Now, consolidation won’t directly free up capital that you will use, but it will limit your debt. Since you’ll have less money to pay, you’ll have more money to play around with and possibly make paying off those debts easier.

It’s important to understand that consolidation is a loan. Essentially, you’ll be borrowing from one source to pay off enough, and instead of paying multiple debts, you’ll only be left with one package sum. Usually, this will be smaller with a lower interest rate than what you were paying before. There are plenty of debt consolidation companies online that can offer you this possibility. It might be worth investigating the type of service that they offer and how beneficial it could be for you. Remember, you need to make sure to read the fine print and guarantee that you know exactly what type of situation you’ll be dealing with.

I hope this advice helps you get money in your hand whenever you desperately need it.