6 Simple Ideas To Generate Cash Money When You’re Broke

6 simple ideas to generate cash money whe you're broke



There are some ways to make cash money when you’re broke but don’t expect to be rolling in the cash without some hard work. With Spring around the corner there will be more opportunities to make cash money rather than shovelling snow and praying you win TV Bingo. Wishing on a star is the worst way to earn cash money because you’re risking losing money you already don’t have to spend.


Cashing out the Cash Money


The first thing someone does when they are broke is find every possible source of cash money then could have. A friend of ours who was strapped for cash went as far cash in her RRSP’s so she could pay off debt. I don’t recommend going this route if you don’t have to however depending on a few factors such as age such as this might be an option. If you are under 30 you’ll have a far better chance of getting back into the investing game with many years to accumulate as opposed to being close to retirement age.

Staring at your bank account on the computer screen to see you are in over-draft or that you don’t have enough money to buy a loaf of bread is beyond depressing. I have a friend who sends alerts to his smartphone every time he accesses his bank account. He’s terrified of something going wrong and not having the money to pay his bills. He monitors his cash money savings like a hawk but deep inside he’s depressed about his financial situation.

I’m sure many people can relate because it’s just so expensive to live any longer. Renting a 2 bedroom apartment in the Greater Toronto Area can cost you upwards of $1300-$2000 and up. You’re lucky if you can find something for less. Rent money alone could eat up one minimum wage income leaving nothing for food, debt, retirement, clothing etc. It’s not enough cash money to budget with. You may have to ask yourself if it’s time to move. Alternatively if you have an extra room or couch you could always rent it out for cash money.

If you want to turn your passion and skills into earning extra money

Keeping yourself in a state of debt denial until you are faced with consequences isn’t going to help you. If you’re trying to forget about the debt you owe eventually it will spill over and come for you. Unfortunately if you want to pay off debt and you’re broke you may have to consider some non-favourable options to you such as cashing in your RRSP’s, selling your house, moving apartments, moving city or taking on a second or third job.

All of the above can be extremely overwhelming to just about anyone in this position. If you’re reading this right now and you’re strapped for cash money don’t give up until you’ve explored all of your options. In the end bankruptcy or consolidating your debt may be your only way out. Once it’s over though, it’s over but it hangs around for many years to come. What you must do is go on with your life trying to build up your credit without incurring any debt.

Dear Mr. CBB,

I’m broke most months after paying our bills and buying groceries and I was wondering if you had any simple ideas to help me generate cash money so I can try to catch up with paying off debt faster?


Christine H.

Hi Christine,

Thanks for your question. I could suggest to you many ways to earn extra cash money every month but not all of them will be immediate. Staring a blog is a great way to earn as much money as you want but it might take you a year. If you’re looking for cash money now that option might not work for you.

Below are 6 simple ways I came up with to earn cash money that I hope might help you a bit. There’s no easy answer except to think about a service that people need and offer it if you’ve got the time and skills.


Babysit/House sit


You’re never too old to babysit and trust me there are loads of parents who need out of the house, away from their kids and sometimes away from their spouse or partner. A babysitter can make great cash money and many times you might be babysitting when the kids are asleep. This is like making money while you are sleeping but keeping one eye open because you’re holding down the fort.

House sitting is another great cash money job that you might be able to find in your neighbourhood. We’ve helped our neighbour many times feeding his cat while he is on vacation. No cash money changes hands in our situation but if your neighbour gets on well with you and needs help with house sitting or pet sitting you can easily make simple cash money without doing much.




This is what we have done since the beginning of the year. We have too much stuff in our house now and it’s time to get rid of it. So far we’ve made back some great money selling our son’s toys and our clothes. Some got donated and more expensive pieces we sold. Remember your scrap might be someone else’s treasures.

What we did was pull everything out in our bedroom that we haven’t used in the last 6 months – year and either made cash money or donated it. You’ll be amazed with how much you have and the amount of stuff you never use. Also consider whether you are spending too much money on stuff that it just keeps accumulating.

Most of our problem stems from getting free stuff or stuff handed down to us from family, friends and even neighbours. Some may be projects that have been left unfinished as well. Finish them up and sell them. I have a kids table in our garage that has sat there for 2 years. I need to refinish it so we can either keep it or sell it. We got it free but can easily sell it for $30 when it’s complete. Keep in mind that time and expenses involved too. Buying paint, sandpaper, chalk and stain costs money that you must factor into price.


Buy and Sell


This is a huge industry especially if you want to make cash money fast. Invest your time at second-hand shops looking for deals that you can re-sell for more money. Another friend of mine who works in a senior level capacity still makes time to earn cash money on the side. She is not debt free and is supplementing her income so she can pay her mortgage off faster. She’s only 3 years into her new mortgage which they will have paid in less than 2 years.

Another cool thing she does is finds free stuff on the curb that can be turned into money. On many occasions she’s found lovely wood pieces of furniture. She’s sanded them, stained them or chalk painted pieces and made hundreds of dollars on something that was free or she paid minimal money for. Good negotiating skills go a long way too when you go this route to earn cash money on the side.


Skilled side jobs


  • Cut grass, landscaping etc.
  • Fix cars, plumbing, construction, electrician etc.
  • Photography
  • Vegetable gardening- grow and sell
  • House cleaning
  • Tutor family or neighbourhood kids if you are qualified to so
  • Teach cooking classes in your home
  • Organize someone else’s house
  • Freelancing by writing for other blogs or working in the background


Budget Re-work


I probably sound like a broken record to the regulars who read my blog but for new readers who come here specifically to read posts like this it’s important to always look at your budget. If you aren’t using a budget there’s your first mistake.

Get a budget started for your monthly finances so you know where you are spending every nickel and dime. You will want to know this even though it may seem silly to you. It will benefit you in the long run. Once you have this information after 2-3 months of budgeting you should see where the money is going.

Take a hard look at your budget categories and ask yourself;

  • Can I live without this?
  • Can I reduce this cost?

Just yesterday we called Rogers and re-negotiated a better deal for our home phone, cable and internet services. We were able to reduce the cost by $10 a month because we weren’t using our home phone efficiently. Instead of paying $19.99 a month we pay $9.99 a month.

That $10 might seem like chump change to the outsider who has no money worries or doesn’t care about the small stuff when it comes to cash money but it will be a huge savings for someone. Over the course of the year that $120 savings can go towards paying off debt. That’s only one example.


Do what is right for you


Should you claim your cash money as income as income earned? Probably, but I’m not here to tell you what you should and shouldn’t do as that’s not my ball game. Earning cash money seems to be the route that best suits people who are out of money, need money fast, hobby enthusiasts, retirees or those who want to pay off debt faster.

Discussion Question:

What have you done to earn cash money? Have you paid someone cash money for a service they provided you?

Please share your comments in the comment section below.


Do you have a story or a question you’d like to share on CBB? Email me at canadianbudgetbinder@yahoo.ca

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  1. Almost every one of us has to face some difficulties in life. I am sure many people have related themselves to the story. Definitely many people have to pay a big amount of their salary or income in rents and they are not able to save for their retirements or emergency situations. Buying a home is either not in their budget as they don’t have that much amount pay. In such situations buying a home on loan with a down payment can be great. Once you own a perfect home in your budget at a right place you can contact a mortgage broker as they can provide you the amount for home purchase on best mortgage rate from the right bank or lender as they professionals have best contacts and deals. Instead of paying rent now you have to pay for your mortgage and you have your own home. An expert mortgage broker will listen and understanding your financial situation and will provide the best advice for your home purchase.
    There are many people who have a similar situation like Christine and I must say Mr CBB you have given some very good options to her. To get a cash amount one can also start creating handmade items and sell them online on third part sites to get a good amount. Using your talents and ideas to earn cash is a good way to start.

  2. Kelly, are there legitimate survey’s you can do to generate money? It’s always sounded like a scam to me.

  3. I’d say go online and look for a side hustle. There are actually more chances of generating cash from answering survey to freelancing jobs. All you have to have is willingness and perseverance all the way from looking for a side hustle to doing it.

  4. A good idea this time of year is preparing taxes. If you know someone elderly that finds it difficult to get out they will value someone who will come and do their taxes there. Or even go and pick up their papers, do the taxes and then drop off. Family and friends might pay you too.

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