Cash is king as they say and many of us need more of it. Sometimes it is difficult to make ends meet, and it is even more challenging when you have your money locked up in other assets. That is why you need to know some of the quickest ways to free up some cash when you need it.
Sell Your Annuities
Annuities are those agreements you made with insurance company at some point whereby you pay them a lump sum of money in exchange for payments with interest in the future. The problem is now you need the money back that you paid to them. You won’t be able to get it all back, but you may be able to get some by selling those annuities to another insurance company, the original insurance company, or some other third-party who can step in and purchase them.
Sell Some Of Your Excess
The odds are stacked that you have things in your home that you don’t really need. You may not be getting use out of product X, but there is probably someone who could. They may be willing to pay you good money to buy whatever it is from you. That is an opportunity that you should not pass up. There could be a lot of cash laying around out there for the taking if you are willing to be honest with yourself and start working on clearing out some of the clutter.
Taking A Personal Loan
There are plenty of lenders waiting in the wings who would be more than happy to lend you some money. You will have to pay back these loans with interest of course, but some people are okay with doing that if it can get them out of the bind that they find themselves in at this moment in time. If that sounds like the situation that you find yourself in then perhaps it is time to start considering a personal loan.
Borrowing money in this way is a short-term strategy to help you get to a better place financially. Do not assume that you can do this forever without penalty. You should really be working on putting yourself in a better place with you money so that you don’t have to worry about these things going forward.
These are three ways you can free up some money if you really need to. Use them at your own discretion.