Summer is the time for vacations and fun activities, and having some extra cash can help you make the most of it! Whether you need money fast to take a trip or need to cover essential expenses, there are many options at your disposal. Here are some ways you can get quick funds this summer:
Get a side hustle
One way to make some additional income is to find a side job to do in your spare time. Whether that’s getting a gig job or finding a way to turn your passion into a small business, a little extra work can lead to some extra money in your pocket. You can become a rideshare or delivery driver, get a freelance writing job, take surveys, or become a dog walker.
If your idea has a bit more work involved, get started as soon as possible. That way, by the time summer rolls around, you have your setup out of the way and all you have to do is put in the hours. For example, if you have a passion for pottery, take the time now to set up your online store and brand.
Sell unused or unwanted items
Selling items you might not use or need anymore can work wonders for summer savings. Clothing, electronics, furniture, or any other items you might have can get you some cash while reducing the clutter in your home. You can sell clothes on Poshmark and Depop, or trade in your old phone for cash using sites like Swappa and Gazelle.
Throwing a yard sale is another great way to sell your unwanted belongings. This way, you may be able to sell everything more quickly and may not have to undersell your items to a vendor.
Take out a short-term loan
One of the fastest ways to get money quickly is to take out a short-term loan. If you do some research and find a lender that will approve you quickly, you could get extra money in no time at all.
Keep in mind that you will have to pay your loan back with interest. Since this is the case, you should always understand a loan’s repayment terms before you take one out. Once you’ve read the fine print and are comfortable with the terms, you’re ready to receive the extra cash flow that a short-term loan can provide.
Rent out extra space
If you have some unused extra space on your property, you can always try renting out this space to tenants. This can be a great way to make money with little effort. All you have to do is take care of any ownership responsibilities and communicate with your renters, and you’ll see additional cash flow in no time.
Whether you offer your home as a short-term vacation destination or long-term living space is up to you. Remember that since you own the property, you will be responsible for repairs and upkeep as long as your tenant is staying in line with the leasing agreement.
The bottom line
It can be smart to have a little extra cash when summer rolls around, so give yourself the financial flexibility you deserve. Getting a side hustle, selling unused items, getting a short-term loan, and renting out extra space are all great options to get fast funds. With these tips, you can start bringing some additional savings, and you’ll find you’re ready for summer fun in no time.
Notice: Information provided in this article is for information purposes only. Consult your financial advisor about your financial circumstances.