What To Do When You Have No Money: A Helpful Guide

The moment you realize you have no money left can seem like the end of the world. The uncertainty can seem debilitating, and you may be too afraid to do anything.


However, there are some things that you need to make sure you do. By being proactive, you can work to improve your situation.

If you’re wondering what to do when you have no money, keep reading for 7 different tips that’ll help you get through it.

1. Make Sure You Are Prepared for 2-3 Months

The second you realize you’re out of money is when you need to act.

The first thing you should do is take stock of the other basic factors in your life. Do you have enough food in your house to last over the next several weeks? Stock up on things like lentils, beans, rice, and other things that won’t spoil.

If you’re too busy worrying about when your next meal will be, you may not have the energy to resolve your financial situation.

You should also make sure your living arrangements are in order. If you’re renting, try explaining everything to your landlord. If you own your home and are paying off a mortgage, you can also reach out to your mortgage provider.

2. Stop Paying Non-Essential Debt

Take a look at the different monthly payments you send off each month. As long as you won’t get sent to jail if you stop paying them, consider taking a payment break.

Typically, these can include things such as credit cards and unsecured loans. Although this will open you up to some other potentially damaging problems, the priority right now is you getting on your feet.

If receiving some angry calls from debt collectors is the tradeoff for having enough food and keeping clean, then it’s worth it. You can worry about things like your credit score after things are back to normal.

3. Don’t Be Afraid to Ask for Help

Although some people are against asking friends and family for help in difficult times, now is not the time to be prideful.

Any family member or friend will understand your current predicament and will want to do whatever they can to get you out of it. Promise that their kindness will be returned back in the future, and you may be surprised at how much people are willing to help.

You can also propose to do some work for their help. Perhaps an older family member needs help doing yard work, or a friend needs you to housesit.

Sometimes, you can also take out another loan to help cover your immediate needs. Read the fine print carefully, but consider looking into direct payday loans.

4. Look for Opportunities You May Have Previously Ignored

If you need money fast, now is the time to backtrack through previous opportunities you may have written off at the time.

Think long and hard: Did someone send you an email asking for help that you forgot to respond to? Perhaps they’re still interested in your services. At the very least, it’s worth asking.

Or, maybe you have a friend who needs someone to watch her kids? Or someone else who needs their dog walked? Look through your social circle and consider who you could reach out to.

Take an inventory of all potential sources of income you have right now. While the work may not be what you’re used to, your priority is making money.

5. Search for Things to Get Rid Off

If you’re someone who has a lot of stuff, consider selling some of it.

Make sure you keep the necessary things, as well as the sentimental items. But if you’re not attached to it, you could use the cash.

Although it’s meant for tidying up, you can try incorporating the Maria Kondo method of cleaning. If something doesn’t bring you joy, get rid of it. Except instead of throwing it out, sell it!

Websites like eBay and Craigslist sell a variety of items. Even things that others might consider junk can usually find a new home. At the very least, it’s worth a try when you need money fast.

6. Try to Stay Positive

Understand the power that the words you say have. While it can be easy to give up during this time, don’t.

Resist the urge to say things like “I’m broke”, or “I’m a failure”. By saying them, you are making them a part of your reality.

Understand that your setbacks are only temporary and that you’ll be able to resolve them. Practice saying things like “I’m in a difficult place right now, but I will get through it”.

You should also begin seeing money differently from now on. When you spend it, regardless of what for, try to be thankful that you had the money to spend in the first place.

7. Save a Percentage of Your Future Funds

Whenever you go through a difficult situation, you should be able to take away something from it.

Having no money can be hard, but consider how you can prevent it from happening again. The best way to do that is by setting up an emergency fund for the future.

Consider creating a rule of living, that from now on you’re going to save a portion of everything you make. For some people, this can be as simple as putting $1 out of every $10 they make aside.

As long as you’re committed to it, you’ll be surprised at how quickly your new emergency fund will grow. Next time you need money, you’ll have an easier time figuring things out.

What to Do When You Have No Money? Don’t Panic

If you’re wondering what to do when you have no money, the most important thing is to stay calm.

By taking the proper course of action and understanding that circumstances will improve, you’ll be able to see yourself out of the situation.

Do you have any other tips you think could help? Let us know!

If you enjoyed this article, check out our other blog posts for more guides and tips.

Team JST

Team JST work with our sponsors, shop vendors, and many more to create informative and engaging content.

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