Cutting expenses and trying to save money here and there is great and you should try to live frugally because in order to save money you need to live below your income, but sometimes it seems your expenses, no matter how much you cut them back just outweigh your income.
So without being able to cut back on expenses and if you have sold off everything you possibly can already, what can you do?
Check if you are eligible for any government assistance. There is more than just the pension. For example, in Australia, I am eligible for a carers allowance because of my daughters learning delay. It is not means tested and is just over $100 a fortnight. So while you might not be eligible for a pension there are other grants and help out there from the government.
Social media – if you have a blog already you could look at advertising, doing sponsored posts and things on it. If you are on Facebook or twitter there are companies you can sign up with and get paid to tweet or update your status.
Look for free things to fix up and sell. Often people list free things in the classified section of papers or websites and some people even put things out the front of their house for anyone to take.
Is there a need you could fill? Services such as babysitting, lawn mowing, cleaning, ironing, mending etc. are often needed by families with both parents working.
Can you make money from your hobby? If you enjoy crafting or cooking can you sell what you make? If you are good at your hobby have you considered teaching it through a community college? Even one day classes on how to fish can be a great way to make money from something you love.
Party plan – there are so many options for party plan and direct selling out there now, there is a product for everyone. It can be hard getting started, but if you enjoy it, believe in your product and have a knack for sales you can make money from it.
Check all your accounts including superannuation. Check any bank accounts you have, even old ones you haven’t used in a while. Recently we got a letter from an account we had closed informing us of a refund that had been made to that account. You never know what money might be sitting out there which is rightfully yours. With superannuation if it is over a certain amount you will have to roll it over to your current fund, but this will at least save you on fees. If it is under the lower threshold you can choose to cash it out, but will have to pay tax on it.
Get a second job. It is easier said then done. Many jobs which can be done outside normal working hours are highly competitive such as stacking shelves, working at a petrol station etc. Because the requirements to get work are pretty low, but if you can do it, it is one way to generate some more money.
So what could you do to find more money?