by Nicola Downey

Created on: May 05, 2008   Last Updated: May 20, 2008

So your rainy day has come and along with it an unexpected and even more unwanted bill...how on earth are you going to pay this time? Many people are finding it harder and harder to keep a well cushioned savings account as their emergency crash mat so its time to consider other options.

1) Borrowing from friends and family. The advantages here are that it is likely to be a no or at elast very low interest rate loan of the type impossible to find with banks. The disadvantage is high - the possibility of ruining relationships should something interrupt the planned payback date.

2) Sell your car(s). This can be a quick way to raise a couple of thousand at least and if you have got an expensive car consider trading in for a much cheaper model and using the difference. Or, if you are really feeling brave - go without. It will mean a change of lifestyle but it will not only give you cash in hand but also see you have a bit extra in your pocket as you skip the gas pump queues and cast off insurance charges. Surely you could give public transport a temporary trial while you re-adjust your finances?

3)Get on Ebay - If you have never sold on ebay chances are you have cupboards full of unloved items that really could go to a new home. Be ruthless - dive into the dark and hidden depths of the closet and if you come across something you've not used or worn for a year or more -SELL IT! It could be anything from that designer handbag you loved last year but soon got sick of. It could just be a collection of bits and pieces. Either way - it all adds up. Old books, unworn clothes you bought to diet into; perfume you were bought and hated; exercise equipment you used enthusiastically for a month (and as a clothes horse for the remainder of time...); unwanted presents...the list really is endless. Not only will you be earning money but also doing your own tiny bit for the environment by recycling goods instead of throwing it all away.

4) Get a Lodger. Do you have an extra room in your house? Could you bear sharing your house for a short time? Check local colleges and language schools that may have foreign students needing a homestay family for short periods of time.

5) Part time work - could you tutor a student of any level? If you have been through college advertise in your local area to tutor others. Do you have a skill or talent that you could mentor others in? Part time work can also be the more traditional bar/restaurant/grocery store jobs. Anything that can boost your income will help.

6.The big one - sell your house. If it is a large amount of cash needed, this could be the ultimate way to clear all your debts very quickly. Are you in a position to naturally consider downgrading? Kids left home and your once adequete family home feeling a bit over-sized? If so consider selling up for a cheaper and smaller house. Or rent.

Raising cash quickly involves some inventiveness, initiative and sacrifice. Be brave!Whether you are a debt free wannabe or just looking to pay that unexpected bill it will take a little time and effort but may just provide you with the safety float that keeps your head just above water. Take a deep breath and dive in!

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