During our very lean years we were faced with a situation where we needed to come up with a lump sum of money to pay for car repairs. We had no emergency savings at the time since we were barely scraping by. So we had to do the next best thing which was come up with the money in a creative (quick) way. God certainly guided us through that tough period. But in the end, we were able to come up with every cent we needed and even a little more. So today I’m going to share with you 5 ways to find hidden money in your home.
5 Ways To Find Hidden Money In Your Home
1. Search for change.
This should be the first thing you do. When I started gathering change around the house from drawers, pockets and closets, I was able to come up with almost $200! Don’t just look in obvious places, check under furniture, old purses, coats, under cushions and even your washer machine. Take the change to your local bank if they have a coin machine since it will be free for you to use or to a Coinstar machine (a fee will be deducted for this service).
2. Sell your excess.
Take a walk around each room in your home and gather items that are not being used. Even small things like books and toys have some value. Once you have gathered your items decide the best place to sell them. If it’s a higher valued item, try to sell it on Craigslist. If you have lots of small things, have a yard sale and price them to sell. I’ve personally done this when I’m de-cluttering the home and it’s a great way to build up your savings or emergency fund.
3. Put it on hold.
Some companies will let you temporarily put services on hold for various reasons. Some of these are your cable, home phone or even cell phone services (check with your provider). The money saved from putting it on hold will be money you can put towards your immediate need. If you’re facing a serious financial crisis consider speaking with your mortgage and/or auto loan company to find out if you can defer a few payments. Beware that this will only prolong your payment period and might have additional fees associated with it.
4. Rent it out.
If you’re a homeowner and have a spare bedroom that’s not being used, consider renting it out to make some extra cash. If you want to make a lot more and don’t mind strangers staying in your place while you’re away, consider renting out your whole house for a week. You could make as much as your monthly mortgage payment and sometimes even more. Sites like airbnb.com or vrbo.com are great places to list your home. Always make sure you find out your HOA rules if applicable.
5. Sell your trash.
If you have old appliances or scrap metal sitting around, take it to a local scrap yard and turn it in for cash. The heavier the metal the more money you’ll make it. Make sure you call ahead to find out what types of metals and appliances they will accept. You could also cash in on old electronics on sites like Amazon or Ebay. Bonus: you’ll finally be getting rid of your old junk! 🙂
What are some ways you have found money in your home? I would love to hear your tips!