3 Sources of Forgotten Money (and How to Cash In)

You must gain control over your money or the lack of it will forever control you. --Dave Ramsey

Life happens and it sometimes feels like one thing after the other is piling up and you’re a little unsure of how you’re financially going to handle it. When you need money unexpectedly or quickly, you don’t have to sell one of your organs, but you will want to start with what you have first.

You might be thinking, "well, if I had money I wouldn’t be in this situation."

But here’s the thing, there’s always a source of money flow if you know where to look and can do a little work to cash in. This is "forgotten money" or a source of money that you don't realize you just might be sitting on. Here are three sources of forgotten money and how to cash in.

1. Selling Your Things Online

Selling your stuff is not an act of desperation but an act towards a bigger goal. If you’re saving for this or need to pay that then why not make money off of what you already have? When you’re selling your gently used items like clothes, furniture or kitchen items, you are putting more money in your pocket AND getting rid of items you no longer use or need. Win win!

Need more reasons to start raiding your closet? You’re reducing pollution by giving new life to old items, you’ll have significantly less stuff to have to clean and you might just find that you’ve been spending your money in the wrong places.

I personally love selling smaller items like baby clothes and home decor, but to get more money back in your pocket, consider selling more expensive brands, limited editions, or larger items to get a better buy back. From Facebook to designer resale sites, the internet has plenty of options for you to get your stuff out there.

Remember, if you don’t ever use, wear it or love it, it’s just forgotten money.

For more on how to make $500 fast, check out these 50 ideas>>

1. Use your credit card rewards

Sometimes it’s hard to remember what you had for breakfast, let alone what your credit card rewards might be but this is money you already have! Don’t just let it sit there or worse, let them pile up or become expired. You may be surprised just how much money you have waiting to be redeemed.

If you don’t have a credit card that gives you cash back or gift cards then you need to open a new credit card. If you’re opening a new one, look for one that has a bonus attached for extra money back in your pocket.

If you’re really on top of it, you can keep an eye on credit cards that will give you a higher percentage cash back in the categories of your choice to earn money faster.

1. Get cashback while you shop

You’re already doing the work of shopping for the things you need, why not get a little bonus money back for doing so? There are sites like Rakuten that will give you cash back for the things you already paid for, plus an additional discount from select stores.Tip: use it for big purchases like flights and rental cars.

You can also scan your receipts and send them to sites like Ibotta to get paid for the shopping you do anyways. You can get up to 30% back from top retailers and withdraw your money like a bank account.

Reminder, the money back is not worth it if you’re spending money on items you don’t need so be selective!

One you realize that you are sitting on money you already have you can get a little creative to cash in big.

Jenn writes at her blog healthyhappyimpactful.com. She’s a mom of three looking to learn and grow. Check it out if you love helpful tips on health, family, and personal growth.