IN AN ideal world we'd all have an emergency stash of cash for unforeseen circumstances, or some wriggle room on the mortgage to draw down a few dollars.
But there are times when nothing is available and you need cash desperately to clear a bill or pay off the credit card.
So where can you find a quick $1000 to get you out of strife? Some people are forced to go to companies offering so-called "payday" loans at exorbitant interest rates.
There are easier and cheaper alternatives if you think about it.
- OFFER YOUR SERVICES
Use Facebook and Twitter to spread the word that you're available to help friends at a reasonable rate. It might be babysitting, ironing, cleaning, gardening or moving. I'm amazed at how people don't think of their social network to look for work and extra cash. The response can be instant.
- CHANGE YOUR SHOPPING TACTICS
How much do you spend each week on feeding, clothing and entertaining your household? There has to be big savings simply by changing your shopping habits. Start a shopping co-op with some friends and buy in bulk at markets, do a big shop at a supermarket rather than hurried daily items at more expensive convenience stores, take a shopping list and stick to it (no add-on biscuits), buy specials and no-name brands.
- ONLINE SELLING
Everyone has items around the home they no longer need or use. And as the saying goes, one man's trash is another man's treasure, so why not sell it online? A recent report found the average house has $7500 of unused goods ready to be sold. These days with eBay classifieds, Gumtree and vintage/handmade specialty online marketplaces, you can list items to sell without listing fees, and simply pay a small percentage of the sale price at the end of the transaction.
Hint: The best way to hook buyers is by having great photos and a detailed description of the item.
- GARAGE SALES
Why do we only have a garage sale when we move house? Make it an annual event and clear out the junk you don't need. It's amazing who buys other people's junk and what they'll pay for it. But make sure the garage sale is well organised. Market your sale through schools, community noticeboards and street signs. Organise the items in to categories to make it easier to browse, make sure you have enough change to settle purchases and be an animated salesperson.
- DO A BUDGET
We know it's boring, but sitting down and doing a family budget is the most critical starting point for finding that hidden $1000. Basically, none of us really know, down to the dollar, where we spend our hard-earned cash and where we can save. A budget will make those savings obvious.
- CUT TRANSPORT COSTS
Do you really need that car with the cost of petrol, maintenance, insurance, parking and rego? The running costs can be staggering. Do the maths. How often do you use the car, what for and how often. Then look at the alternatives. Our son finds it cheaper to use public transport, taxis and car-sharing schemes like Go Get and Flexicar on the weekend for social occasions.
- ATTACK THE MOBILE
Mobile phone usage is getting just plain ridiculous. Start by thinking whether you really do need to have that frivolous conversation with a friend and maybe switch to a prepaid card rather than a plan. A prepaid card means you can set a limit on the monthly mobile spend and it becomes a good discipline on whether you really need to return that call or not.
- BRING A PACKED LUNCH
It may not be cool but it will save you a packet. You can either pay $9.80 a day for a ham, cheese and tomato along with tuna and mayo sandwich plus a soft drink or spend a dollar on making it at home. That's a saving of $8.80 a day, $44 a working week or over $2100 a year.
- CUT BACK VICES
If you were impressed by the savings of taking your lunch to work, wait until you try cutting back on the smokes or grog. Now we're not suggesting you live like a nun but, hey, look at the result.
- MOONLIGHT
Maybe you're good at sewing or painting and can do a deal with a local shop, providing goods on consignment or selling through a stall at the local markets. Turning that passion or hobby into a part-time job can be a good little earner.
[GREEK WOES]
IT'S amazing the amount of criticism we're getting from Australians of Greek descent for being mean about Greece's financial woes.
We're not being personal. We're just telling it like it is because the consequences are so serious that it could drag the world into another economic recession.
The Greek share market has halved since March and two-year government bond yields last week topped a massive 50 per cent.
That means investors are so nervous about putting their money in Greece that the government has to offer a huge 50 per cent interest rate to attract investment.
[ECONOMIC HOPE]
SURE, the world is financially sick, but Australia is in a league of its own.
As we've been saying for a while, this is the best place to ride out the global turmoil and last week's economic growth figures are testament to that.
Economic growth of 1.2 per cent for the June quarter was better than gurus predicted and if it wasn't for the setback from the floods and cyclone earlier in the year our economy would be growing by about 4 per cent.
The size of the commodities boom is certainly skewing the economic averages, but, even so, growth seems to be expanding across the board.
We still stick by the view that most people should forget about share market gyrations and just focus on China still buying our minerals and property prices staying solid.