According to some sources, nearly 8 out of 10 businesses fail because of poor cash-flow management. And it’s not just about businesses. Facing a financial crisis is more common than the deadliest of the diseases.

To put this into perspective, take note of this report from BBC- nearly one million people lost their jobs in March 2020.

The millennials struggle with cash-flow management more than anyone else. And there are, of course, several factors at play for this struggle. For example, underemployment and expensive life choices are pushing people to spend more than they earn.


Regardless of the reasons, there are some pretty easy and effective fixes to this problem. If you also need money now or asap, you should go through this article. We’ve compiled some quick solutions for your monthly cash crunches that can go a long way in resolving your financial troubles.

However, before we jump right onto the solutions there’s something that you must understand.

Evaluating Your Financial Situation

Of course, before you decide to take out a loan or borrow money from your friends, you must first know your situation. You need to know how deep you are into the cash-crunch situation.

To begin with, check whether you have a negative cash-flow in your bank account. It simply means if your expenses are more than your income. If so, you need to know how much you exceed your income.

With this, you can devise how much money would be enough to get you out of the crisis. For example, if you’re short by, let’s say, $2000 for this month, you can predict how long it will take you to repay your advance or your loan. And accordingly, you can also predict how long you’ll have to be managing your cash-flow.

Once you are able to conclude that you are in financial trouble, you might need to see through the options.

Small Cash Advance Or Loan

The first thing that might come to your mind is to seek a small cash loan. And to your surprise, you’re not alone. Every person ever facing a cash crunch has small loans as the very first option to cross their minds.

Small loans are quite popular with the millennials and there are several reasons for it. First of all, these loans are pretty easy to get. For example, you can apply for a payday loan or an installment loan online. All you need to do is create your profile, login to your account, and apply for your desired loan amount.

It’s as easy as creating an email account. Just fill in the details and within moments you’ll receive offers from many lenders. And that’s the best part- you get to choose the lender that suits you the best. Plus, you can also expect to receive a loan even if you have a bad credit score.

Side Gig For Zero Debt

Of course, a loan in any form is a debt, and you will need to repay it. However, if you’re not interested in carrying any debt you might want to consider other options. The ones that do not indebt you for any time-bound repayments.

One of the best solutions to cope with your cash crunch without owing any money to anyone is working a part-time job. Yes, you read that right! You can turn your, otherwise, free time into extra income to help you cover up your extra expenses.

Working on a side gig is, in fact, one of the most popular options that millions choose over getting a loan. And it has more than zero-debt to offer. In the effort to work on a side gig, you might actually create a self-sustainable small business for yourself.

Accessing Credit Line

Cash advances and side gigs are undoubtedly great solutions, but only when you need money in small amounts. For a financial crisis when you might need more than just a few hundred dollars, you might consider accessing your credit line.

Your credit line is the score that a bank or a financing institute uses to check your credibility. In short, it defines your capacity to borrow and repay a loan. Usually, accessing your credit line requires some collateral to be placed with the lender.

For example, you can place your house as collateral to receive a few hundred thousand dollars. Or you can also use your savings to prove your creditworthiness. But keep in mind, that you should only access your credit line if you need large sums of money.

Rent-Out Immovable Assets

Another option that’s worth exploring is renting your immovable assets. Primarily, it means you can rent out a house or a condominium that you own. You’ll receive rent to sort out your financial crisis, and also someone to take care of your place.

If you do not own a secondary property, you can separate out a portion of your home and rent it out. Many people rent out a secondary dwelling unit in their homes to make some extra cash for their monthly expenses.

Your basement, or outhouse, or even your attic can be a good option when you’re considering renting out a portion in your existing home.

Set Up A Garage Sale

If none of this works for you, don’t worry, there’re still more options. One such is setting up a garage sale. If you have some spare clothes or items that you no longer use, then this might be a good option to get rid of them.

Setting up a garage sale can make you that little cash you need to get through this month. And besides, you can also clean up your place, by getting rid of the unnecessary items.

Cut Out Your Expenses

One of the most important considerations to be made regardless of the extent of your cash crisis is cutting your expenses. You must carefully assess your expenses and try to mitigate any expenses that can be avoided.

For example, you might be able to survive a few months without buying any new clothes. Likewise, you can also choose to travel by public transportation and save on fuel costs.

Whichever option you choose to cope up with your cash crunch, make sure you consider the pros and cons. Only a well-informed decision can bring you the right results.