We all have heard of the saying that desperate times require desperate measures (Hamlet) but in these tough economic times many should re-consider liquidating their IRAs. Prior to making the quick decision of liquidating your IRA first consider these other options: If you still have a job try SAVING. Cutdown on items you do not NEED (i.e. restaurants, cable, movies, gifts, cleaning services etc. Scan your credit card & bank statements and go down the list of transactions and ask yourself this question, “Do I really need this to live?” Unless it is a necessity, buying an item on discount is NOT SAVING. Sell Certain Possession that you can live without. I’m sure there’s a stereo, bicycle, video camera or other material possession that you do not need to live with. Possessions that Decrease in Value Ove Mis Sold PPI r Time. I can guarantee you that unlike hard cash, these items will only decrease in value over time, so you should get rid of them now. Request More Responsibility at Work. We can all agree that it is very difficult to get a pay raise now, let alone a bonus. However, there maybe ways you can provide a convincing argument for your boss to increase your pay if you work more hours or take on more responsibility that would ultimately save the company $ by not having to utilize another resource. If you focus on how the company would benefit by paying you a few extra dollars while you take on more responsibility your request may end up being honored. Supplemental Income. There may be a way you can utilize your skillset by performing a job online to gain extra cash (i.e. writing articles, consulting, selling).