(ThyBlackMan.com) Bad things happen to good people. One day, everything is going well, you’re on top of all your bills, you’re doing a good job at work, and your future looks bright. Then, the next day, something bizarre happens to throw your cash flow balance off course.
It could be anything. Perhaps, you notice a drip in the kitchen ceiling when you’re brewing your morning coffee. Since the bathroom is directly above it, it suggests a leak in the pipe. Or, perhaps, you hear a funny engine sound as you drive to work…and it breaks down before you get to the office. You have to take care of these problems right away—even if you can’t afford to do it.
Financial emergencies can happen even if you work hard, do your best to keep your head high and have a positive attitude about your economic future. It happens even if you do your best to manage the 
little you earn as best you can, living frugally and keeping a budget.
What should you do when you face a financial emergency?
Here are some possible steps you could take to quickly put the problem behind you:
1. Get an emergency loan. If you have a regular job, use a checking account, and have a social security number, then you can apply for a fast payday loan alternative. It’s easy to apply and qualify and repayment terms are flexible.
2. Borrow money. Make a list of everyone who might be able to lend you some money and call them up. If you take this strategy, be sure to pay them back as soon as possible – otherwise, you will burn the relationship.
3. Have a garage sale. While you can have a garage sale at any time, the best times appear to be 7 am on Saturdays. You will have to invest about $5 to get posters and about an hour putting up signs around the neighborhood. The trick to success with a garage sale is not too price things too high and to make your profit on volume rather than trying to get fair value from big ticket items.
4. Negotiate. You may be able to defer payment for your emergency or do a trade. A car mechanic, for example, who owns his own shop might be willing to fix your car if you put down a small down payment and agree to pay interest on the deferred bill.
5. Return merchandise. If you recently bought something from a store but have not opened it, or opened it and not used it, then you might be able to return it. You might be able to return it if you have the receipt, you are within the return time frame, and the product is still eligible for return.
6 Use a Pawnbroker. Pawnbrokers buy a variety of things from clothes to textbooks. They pay more for computers, electronics, and power tools. This is a useful strategy if you actually want your stuff back. You will have to pay about 25% more to get it back.
7. Sell your Blood or your plasma. Organizations like Biolife Plasma will pay you around $50 for your blood or plasma, provided you are in good health. It’s all for a good cause as your blood or plasma will be used to research cures for people with rare diseases. According to the Biolife Plasma website, “Donors not only contribute the source of life-saving therapeutics, but also contribute to the commercial vitality of their immediate neighborhoods. The compensation donors receive for their commitment to the BioLife program are spent and re-spent in the community, multiplying their impact and the benefits to the donors, neighboring businesses and the community at large.”
How to Earn the Money You Owe
Assuming you borrowed money to take care of your emergency, you now face a new problem—how to pay the money back. While one way, of course, might be to take the money out of your regular paycheck, what if you don’t earn enough to cover the cost of the money you borrowed.
Here are three ideas to earn some money:
1. Join a Focus Group. You could get paid to take an online survey, watch a new television show, give your opinion about a new snack or beverage, or test a new product. You can earn from $25 to $100 for your participation. If you do enough surveys, you can raise the money you need.
2. Use Task Rabbit. Since you’ve managed to buy yourself some extra time, you could use Task Rabbit to find small jobs in your local area for individuals or companies. Someone might pay you $25 to take their laundry to a Laundromat and bring it back neatly folded. Again, do enough gigs to raise the money you need.
3. Sell on eBay. If you have a lot of collectibles, then you could get a fair price on eBay. All you have to do is create an account, go through the seller’s instructions, see what other people are doing to sell stuff similar to yours, and get started. Your best chance of making a sale depends on the quality of your pictures and the clarity of your description. When buyers have a good idea of what condition the item you’re selling in, they are more likely to buy.
Staff Writer; Doug Moore