In 1979, my first husband was history with the slamming of the front door, but the already past due mortgage wasn't. At the time, I had two young children, no job, and our credit was non-existent. Additionally, we were deeply in debt, with no family or friends who could help out. Somewhere in that character defining moment, I remembered my grandmother's own courage inspiring adage, "There are no sacred cows. In tough times, all you need is your WIT."

WIT in Grandma Daisy's survival dictionary, was a Depression era shorthand for "Whatever It Takes." In the month's that followed, it took selling my wedding ring, my other jewelry, most of my furniture, pawning my sewing machine, and living on fish sticks and macaroni and cheese - just to make that monthly house payment. I survived those financial tough times and other financial emergencies that followed in later years, and so can anyone else who keeps their wits about them!

In 2008, with skyrocketing gas prices, the decline of the U.S. dollar, ever-increasing basic grocery outlays, a mortgage crisis, and jobs fleeing our country, and well established businesses closing left and right - more and more everyday Americans -- are finding themselves with similar temporary financial emergencies.

For, if you keep your wits about you, when confronted with a financial emergency -- it can be "temporary" and not a permanent down-spiral for life. Not panicking, and quick action can solve a lot of financial problems from morphing into bigger problems and ruining your credit score and reputation. So, you wake up tomorrow and:

• The company you've worked for, for years, shut down without notice;
• You got fired;
• Your spouse, significant other, or roommate flew the coop;
• Your one and only car broke down and you have no savings and can't get to work without a car;
• You had an financial emergency and you will be late on the mortgage or rent;
• You have more bills than paycheck and credit collectors are hounding you day and night;
• And the list goes on.......................

Just what do you do to dig yourself out of this hole? It's important today more than ever, to understand the many options of doing "whatever it takes" to get yourself out of a temporary financial disaster. Here is some beginning rules for raising cash quickly, that you may not have considered:

Rule #1-- Simplify your life by locating the fast cash you already own - by merely looking around your home for unnecessary "sacred cows" and begin decluttering your life:

• First, collections of anything definitely qualify for this method of raising quick cash. Think about it, do you really need two hundred DVDs, CDs or any other collectible item?
• Other items that fall in this category, are electronic games and electronic devices.
• Other collectibles, art, and antiques can be taken to local antique dealers, who may or may not make you a reasonable offer.

Reflect in the context of a collection vs. a roof over your head, or being afraid to answer the phone due to credit collectors or further trashing your credit. Passionate collections can be reproduced or replaced afterwards, in better times. Holding on to "things" can cost you everything.

Rule #2 -- Simplify Your Life - Next, simplify further by stripping your home down to basics. Get rid of anything you do not use, do not need, does not have sentimental value, or can be easily replaced.

Price everything to sell, don't be bogged down by over-pricing, solely based on what you paid for the item in the first place or what you've seen others sell the same item for in the past. Having many items bargain priced to sell vs. pricing at what you've seen at other such sales, will net you the results you need.

Have the mother-of-all yard sales or garage sale, (if you have a good location). Advertise in free papers and with good readable signage. P.S. Don't forget to remove the signs after your sale, be a good neighbor.

If you don't have a good location, haul everything to the local flea market. Arrive early to select the best location for your booth, and make sure you have a helper.

Understand that, yes, you are may be taking some losses. However, losing your good credit, being hounded day and night by creditors, losing your home, or having your car repossessed is far worse, than losing small dollars.

In determining your asking price, think about overall volume vs. price of all the items you've selected to sell.

Rule #3 -- Another method of quick cash is to simply send everything to a local auction house. You'd be surprised at what a well attended auction can net. Things you would never dream that would sell, if the right two bidders attend, can bring far more than the value of the item.

Your auctioneer can advise you of what his typical bidder likes to buy in your area. A key to making sure you have a good auction sale, is to send everything in a clean, working condition to auction.

Make sure that you pick a good local auction house, one that draws a big crowd weekly, not one that just holds an auction once a month or so. Also, remember it will cost you in both auction fees and taxes.

Rule #4 - Get a part-time job or do some temp work - Don't hold out for the ideal situation, just go get one even though you know you won't need it for the long term.

Rule #5 - Public and Private Charities- While many churches and charitable organizations have a income cap, you can in an emergency, get a short term loan or gift. If your husband's disappeared and you've got kids and the electricity has been cut off, it's better to swallow your pride and ask for help than to allow them to suffer in the dark.

Rule #6 - Renting Out That Spare Room - Sometimes you've got extra room and this can be a simple solution. Getting security deposit and 1st month's rent upfront and having someone share the financial load on utility bills may be a sound financial answer to getting out of debt.

Rule #7 - Sell Your Plasma - This quick cash solution, has a hidden reward in knowing that you are also helping someone else. You can safely donate twice a week at a for-profit plasma center, which will give you roughly an extra $280 a month in income. Additionally, if you have been vaccinated against Hepatitis B you can get a higher rate of quick cash.

Rule #8 - Sell scrap aluminum and scrap metal- Not the easiest or the most glamorous way of raising cash, but it works.

Rule #9 - Sell that junk car- If you have an old clunker that is not worth reviving there are two things you can do. If you are handy with your hands you can part the vehicle out, selling parts, even the engine on Craig's list, etc. Then, you can call the many dealers who advertise "I Buy Junk Cars" and sell the carcass. Remember to shop around, as the going price for junk cars can vary greatly.

Rule #10 Cash In Your Vacation Pay and Work - Some employers will allow you to cash in your vacation pay and just not take the time off. Another way to handle this is to take the vacation, stay home, and work a temp job.

Finally, if your financial situation is serious and you need a lot fast cash, earnestly consider a quick sale of large ticket items, such as a boat, or an extra car, an ATV, golf cart, riding mower, or extra TVs, sound systems and the like.

Most Americans have far too many of such possessions and while they make life more enjoyable, they are expendable. It's a whole lot less embarrassing to not own such items, than to risk losing your home, having your car repossessed, or be hounded by credit collectors. In the end, you may discover as I did so many years ago, that starting with a clean slate and living debt free has its own rewards.