we are running out of money, ideas to get through 3 months?

amother

Thu, Mar 27 2014, 9:39 pm

Help!! We are running out of money! Will soon not have cash to pay tuition/cars/mortgage etc! A month ago I started looking for a job with more hours, I've had interviews, and hopefully (with Hashem's help) will be able to make more money starting in a few months from now, but until then I need ideas on how to stay afloat. The only options we have are credit card debt - obviously with very high interest rate, or I sell my diamond ring, both not happy options. Does anyone have ideas to save/get cash for short term basis?

TwinsMommy

Thu, Mar 27 2014, 10:03 pm

direct sales/ network marketing--- just make a thousand or two per month for the next few months then quit--- don't move up or go crazy, just use it for cash.

etsy/ebay --- sell stuff you've made, sell stuff you have

interest free loan

service business that you can do short term and service a number of clients over the next few months and then drop (for instance, on the side I get decent money from a few small biz owners to increase their facebook/twitter followers and linkedin connections--- I've got a background in twellow and manageflitter and hootsuite, etc so I've got the specialized knowledge which makes quick work out of it)

temp agencies

subbing in schools

take from savings

you mentioned YOU're going to get more hours- what about your husband?

good luck!

mirror

Thu, Mar 27 2014, 10:08 pm

I don't know you or your schedule.

1. Borrowing from interest-free Gemach

2. Borrowing interest-free from family

3. Babysitting after school and sundays

4. Tutoring

5. Baking cookies at home and selling them to your friends for shabbos - or just selling rolls of dough

6. Making Challah dough and selling it as dough - letting women come to your house to be Mafrish Challah who don't have time to make dough themselves

7. Giving haircuts

8. Giving piano lessons (I don't know what your talents are)

9. Giving your kids extra pens/pencils and letting them sell to classmates

TwinsMommy

Thu, Mar 27 2014, 10:11 pm

please check on the food laws in your state before doing #5 or #6 from the above poster. GREAT ideas if your state allows that, but I think most states don't--- you could do a cottage product though with proper labelling--- but probably not challah or dough, etc...... please don't do anything illegal.

doctorima

Thu, Mar 27 2014, 10:28 pm

Is there a gemach where you live that can give you a short-term loan, or a family member who can help you out temporarily? Is there a Rav that you're close to, who maybe has some tzedaka money who could send your way to help tide you over?

amother

Fri, Mar 28 2014, 11:20 am

Thank you for your replies!! Twinsmommy I might have more to ask you about the sales. DH has looked for a second job, but no luck unfortunately. We already have a tuition break but still not pulling through, so I have to work full time now, but takes time to get that together. thanks for your ideas. I don't think we would qualify for gemach loan, we make too much money. Does anyone know how it works?

m+m

Fri, Mar 28 2014, 12:39 pm

Maybe you can talk with someone at the school and explain to them your financial situation. It is more detrimental to your finances to not pay your mortgage than not paying your tuition (although neither are great options).

Like others have mentioned- look into interest free loans.

Since you mentioned you have a mortgage perhaps you can refinance?

What about a home equity line of credit?

What all of a sudden changed that now you are lacking basic funds? Did your expenses change?

Of course try cutting back on daily expenses. Buy on sale and buy with coupons.
Invite yourself out to friends/family/neighbors for shabbos meals.

Good Luck!!

amother

Fri, Mar 28 2014, 3:47 pm

Just thinking about services that don't require a big investment to provide for others and that I would find enticing as a customer (obviously not a long term solution, but maybe will yield some extra $ to tide you over for now?):
Ready to eat chometz meals (think out of the box: cheap breakfast and lunch too!) that are cheaper than a pizza store for these last few weeks before Pesach, maybe even picnic tables in your yard?
Home made Pesach salads, side dishes, desserts, etc. If you are a good cook/baker and will let everyone know which hashgachos you are using, anyone who would accept an invitation to eat a meal at your house might be happy to purchase from you if they are pressed for time.
Pre Pesach camp/babysitting- there are never enough programs and never with long enough hours! Can you imagine the demand you would have for this on erev Pesach alone? You can have it at the local park/playground and include food/drink/snacks and advertise that you will provide safe adult (plus teenager? can you hire a few local kids to join you and give them a % of the profits) supervision/babysitting services, but not necessarily organized activities, for a few hours.
Hugs to you!

amother

Fri, Mar 28 2014, 4:54 pm

Cuts costs first, then think about how you can make money without spending money. All the food ideas are high overhead and will expend time that you need to hit the pavement and find a more permanent solution.

amother

Fri, Mar 28 2014, 5:40 pm

Be wary of direct sales and marketing ideas like TwinsMommy said. Firstly, they always require some sort of investment on your end even if they tell you that not. If everyone could make 1,000 dollars a month without putting in money then everyone would be doing it, right? and you don't see people lining up to sell mary kay. Secondly, it is a begging business and family and friends will get annoyed with you.

Good luck.

TwinsMommy

Fri, Mar 28 2014, 6:20 pm

True. I hang out with people who do a lot better than that but that would be realistic for the first few months part time for someone willing to work it the right way and not simply bug family and friends. Its sad.... most don't. Lots of attrition on my teams over the years. Its been my primary income for 14 years but so many join and aren't willing to go outside their daled Amos.