Alternative Ways for Quick Cash Before the Holidays

There is no denying that many people are feeling financially pinched and looking to make extra money.  Perhaps you are contemplating another job but already feel overextended at your current job and don’t want to use your remaining free time to work more.  Luckily, there are several ways to make some extra money that don’t involve getting another job.  Consider the following:

1. Sell stuff around the house.  We all have clutter.  Identify the items you haven’t used in a year or longer and sell them on eBay or Craigslist or at a garage sale.  
2. Open a new bank account that offers a financial reward.  There are bank accounts available that offer you anywhere from $50 to $100 after the account has been open a designated number of months (often three) and you have made a designated amount of transactions (usually including a few direct deposits).  Meet the bank’s requirement, and you have free money. 
3. Use credit cards to your advantage.  Many credit cards offer generous rewards.  The best cash back credit cards often offer 2 to 6% cash back on certain types of purchases.  Use your credit cards for all of your purchases and reap the cash back rewards.  (Just make sure you are disciplined to pay off the balance each month.  Otherwise, the rewards will be offset by the interest you pay.) 
4. Call to negotiate your cable bill.  Cable and Internet bills often are high.  Call the company to see what discounts they can offer you.  They may offer you a discount for six months, or they may give you options for items you can cut from your service to lower your cost.  Either way translates to more money in your pocket.

If you are looking for extra money, the only solution isn’t to get a part-time job.  There are plenty of ways to trim your costs and generate extra money if you are creative.

Guest Post by Melissa

What should you look for in a student bank account?

Heading off to college is an exciting time in any young person's life, but it can also be stressful. With so many decisions to make regarding class schedules and dorm room décor, a student bank account may be the furthest thing from your mind.

College orientation weeks tend to feature credit card and bank representatives beckoning students to sign up for their financial services. Before you go with the bank dishing out the free gifts, look for one with better perks like a free overdraft.


Banks are going to entice college students into opening accounts because they view them as potential life-long customers.



Most students come to college never having held a separate account from their parents and those work-study funds have to be deposited somewhere.



Keep in mind that banks exist that offer free checking, convenient online banking, free savings and overdraft protection, all of which are better for students just learning how to manage finances on their own.



You need to choose a financial institution that has a convenient location.



A national or regional bank near the university will be best for easy withdrawals and deposits, but you also want to consider those emergency or regular care funds your parents want to send. Having a bank in their location as well as near the college will make it easier on everyone.



Make sure that ATMs are within a short distance of your university. Using another institution's ATM will rack up fees you don't want to pay. It's okay if your bank doesn't have an ATM on campus, as long as there's one within a short distance.



Although you may only be thinking about a student checking account at the moment, consider more long-term financial needs. Does the bank lend student loans? Do they offer online bill pay? Are credit cards available?



While you may be tempted to get customized checks featuring your college's mascot, remember that the plain checks serve the same purpose and are often free. Chances are you will be using a debit card more often anyway, so don't bother spending extra money having your school's name stamped at the corner.



Responsible students need to appreciate and utilize a savings account. If you plan to save money during college, consider a certificate of deposit (CD). These accrue higher interest and have to be left alone for a certain period of time, so you could open one during your freshman year and cash it in as a graduation gift to yourself. You can check out a full range of savings and current accounts at moneysupermarket.com.



Don't underestimate smaller regional banks and credit unions. These often provide better deals in regard to lower fees and higher interest rates than national banks and you may even find an on-campus credit union that caters specifically to students.



Set up your online bill pay early, preferably right after you open your brand new account, so you can learn how to pay your bills from the convenience of your dorm room.



If you're still unsure which bank to go with, ask around campus or talk to friends and roommates to get a better idea of where students on campus are banking.



No matter which type of account or bank you go with, be responsible with your funds and keep track of the amount of debt you accrue. You will probably be graduating with some amount of student debt as it is, so you don't want even more from credit cards and other loans.



Guest Post by MoneySuperMarket  

Alternatives to savings accounts

Saving money is an essential part of modern life and without a comfortable buffer, if the worst happens, life can become pretty uncomfortable.

However, if you have sufficient money in the bank and want to think about other ways to use your spare cash, what options are there?

Investing money in the US government is said to be one of the safest ways to make a return, despite the state of the country's economy at the moment. Treasuries – or government bonds – are an investment that can offer either a variable or fixed rate return and offer little risk.

The only downside is that to get the maximum benefit, it is necessary to tie up funds for a long time, with penalties usually enforced for withdrawals before five years.

Individuals willing to consider riskier vehicles could contemplate investing their money; an option that has the potential for great returns but also a very real possibility of losing some or all of the capital laid out.

For this reason, investing is not a suitable choice for everyone and the general advice given is that you should never invest money that would have catastrophic consequences if lost.

There are a huge number of investment options, of which simple purchasing of stocks and shares is the one of the most commonly chosen and certainly the best-known amongst the general public.

However, there are a number of other options which could also be considered, such as forex – the trading in foreign currencies – a market that eclipses conventional stocks and shares and offers the same potential for gains.

Anyone with a significant sum to invest might find real estate a viable alternative, especially with the current property prices at rock bottom and expected to rise as the economy eventually strengthens.

Savers with a particular interest could opt to support a project or invest into funds with a special emphasis, such as eco-friendly schemes or sharia compliant shares.

Those who want to help a charity but do not feel they have the spare cash to make the donation they would like might want to consider helping the cause out by purchasing a bond, if available, or shares.

The credit crunch has meant that borrowing from banks has become far more difficult and alternative means of lending are springing up. Peer to peer is one such enterprise but to be successful, it obviously requires members who are willing to lend as well as borrow.

Applicants are usually thoroughly credit-checked and given a risk rating and lenders can bid against each other to offer the individual a loan at the rate of interest they feel reflects their credit score.

One golden rule of thumb is that if the money is likely to be needed at retirement, it should be moved to a low risk safe haven where it can remain without the danger of falling in value, at least two years proper to when it is likely to be utilized.

Article by Les Roberts, finance writer for MoneySupermarket.com, check out a range of savings vehicles including the tax-free cash ISA at moneysupermarket