I have compiled some ideas on how to access money right now without too much effort. These ideas will help you access extra money quickly and you could even find an inheritance in the process.
1. If you have a job, you may adjust your withholding amount. Instead of receiving a tax refund each year, you can increase your paycheck by increasing the number of withholding allowances you claim on your W-4. That one action will increase the total of each paycheck, which is almost as good as getting a raise. However, the government will penalize you if you do not pay at least 90% of your taxes through regular withholding or quarterly estimated tax payment.
2. Another way to make more money in your paycheck is to stop any automatic 401K contributions that you have set up. This will increase the amount in your paycheck. Usually it only takes one pay cycle to take effect.
3. Look on one of the many unclaimed money and property websites to see if you or any of your relatives are owed anything (this could be a forgotten bank account, a paycheck from your last job or a forgotten utility security deposit). I did recently tried this and found $2700 in unclaimed bank accounts in my deceased grandfather’s name. After splitting the amount with my family members who are the heirs, I received $675!
4. If you have a mortgage, ask your mortgage company if you qualify to have the mortgage insurance removed from your policy. If you have enough equity (usually more than 20%) in your home this could be a way to increase your monthly income (by reducing your mortgage costs).
5. Sell something that takes up space in or on your property. If you own a boat, an antique or fancy sports car or a motorcycle which is used less than twice a year, this item is a burden to your finances, you are most likely paying insurance and registration to maintain them.
6. Move your money from a non-interest bearing checking account to an interest bearing checking account, savings account or online bank which pays higher interest.
7. Recycle your waste for a profit. Save your recyclable glass, aluminum and paper like you always do. Instead of taking the recyclables to the curb on garbage collection day, haul them to the nearest recycling center and get paid! You can make this a game with your kids. Give them a plastic bag when you go to the park or for a walk in the neighborhood and encourage them to pick up cans and bottles.
8. If you smoke, quit smoking. Here are the calculations of how much you will save. A pack of cigarettes is approximately $5.00. If you smoke 3 packs a week, you will be saving $60 a month and $720 over the course of a year!