4 minute read

How to create an emergency fund, fast

When financial problems come along, they tend to happen at just the wrong time...

  • Your car needs a new tyre
  • Your teeth need an expected trip to the dentist
  • Your partner's income falls because overtime dries up
  • Your boiler needs a major repair

It’s always been important to have an emergency fund – a stash of cash that you can get your hands on – but it’s even more important now with the rising cost of living putting household finances under strain.

Check this infographic out! It gives you ideas on how you can create extra cash. 


What could you do with some extra cash?

As well as being able to boost your emergency savings to cope with unexpected expenses you could

  • Reduce or repay expensive debt and lower your monthly repayments
  • Put towards important events like a home purchase, future wedding or a new car
  • Give yourself more ‘wriggle room’ to manage future fluctuations in income and expenses

Turn stuff into cash

Whether it’s an old laptop you no longer use, the designer dress you’ve worn once or a bike that’s sat in your shed for years, the chances are you have many unused things that you could sell for cash.


How much cash could you generate?

A recent estimate suggests that the average person in the UK has around £2,250 of unwanted stuff. 

Use the list below to do an audit of your possessions to discover what you could sell.

  • Pictures & Art
  • Appliances & Lighting
  • Furniture & Antics
  • Clothes & Shoes
  • Electronics & Gadgets
  • Toys & Baby Equipment 
  • Tools & Equipment
  • Jewellery & Watches
  • Vehicles & Bikes

Easy ways to sell your stuff

It’s easy these days to sell things by using reputable online apps and websites. 

Selling platforms are either generalist, in that you can sell virtually anything on them, or they specialise in selling a particular category of item – such as cars or clothes.

Generalist selling platforms include Facebook marketplace, Gumtree, eBay, Preloved, Shpock, and NextDoor

WeBuyBooks is great for selling books, DVDs, CDs and computer games. 

Sites that are great for selling clothes include Vinted, Depop and Hardly Ever Worn It

If it’s mobile phones and other electronic gadgets you’re looking to sell, check out Mazuma and ecoATM

The easiest, quickest and safest method to sell a car is to one of the immediate cash buying companies. These include Webuyanycar, Motorway, and Carwow. Keep in mind though that you’re unlikely to get the highest price through this route. 

Advertising your car to private buyers can often get a higher price, but the downside is it might take longer for a sale. You also need to be very careful that the buyer is legitimate. Exchange & Mart and Auto Trader are the largest online vehicle advertising platforms. 

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Action plan

So, what are you waiting for? 

Carry out an audit of things you could sell, put details of them on your chosen app or website, wait for buyers to contact you and watch the cash flow in.

Remember, when it comes to your money, focus on making progress, not attaining perfection.

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This content is for guidance and educational purposes only and is generic in nature. Salary Finance does not offer regulated financial advice. If you need personal assistance please seek independent financial advice from a suitably qualified and regulated professional adviser or visit MoneyHelper for signposting to free money resources.