Courtney Hale / iStock.com
There are times when an emergency or an unexpected expense arises. If you don’t have an emergency fund to fall back on, you’re probably thinking, “I need money now,” and you don’t know where to find it. When payday is too far away to be useful, there are options and strategies that could help you quickly find the money you need to solve your problem.
1. Sell items
When you realize that “I need money now”, the fastest way to get some quick cash is to look at what you currently have and sell it. Selling stuff is a good way to declutter your life, especially if you’re not using the goods you plan to sell.
Some of the most profitable items to sell and cash in quickly are:
- Electronic devices such as mobile devices and video game consoles
- Jewelry, especially gold
- Designer items
Depending on the items you’re looking to sell, sources such as OfferUp, eBay, Craigslist, Facebook Marketplace, Swappa (for mobile/electronic devices), and Poshmark (for clothing and accessories) are good options. In most cases, all you need is to take clear photos of the items you are looking to sell and list them.
Do some research to determine the price of the item to sell quickly. And when you receive interest in your goods for sale, be sure to be careful when making a deal to avoid being scammed, especially on Craigslist, OfferUp, and Facebook Marketplace.
2. Take a side hustle
If you’ve exhausted your options to sell items, another good option is to take a side hustle to earn some quick cash. Some gigs don’t even require special skills to earn money now. The following platforms could help you increase your income quickly.
Food and grocery deliveries
You can earn money quickly by working as a delivery driver. In most cases, you will need a mobile phone and an app download, a driver’s license and an insured vehicle. If you meet the application requirements, you could start earning today. Some platforms worth trying include:
Uber and Lyft are the two most popular apps to work for as a rideshare driver. You could work in your spare time to raise the money you seek. In many cases, working after hours could help you earn more.
If you are unsure about driving passengers, an alternative is to work as a parcel delivery driver for Amazon Flex.
Some websites work with brands that pay you to take surveys, watch ads and videos, play games, shop online, and more. Signing up is simple – in many cases, all you need to do is enter an email address to get started and a PayPal account to make a withdrawal. In other cases, you can cash out with e-gift cards. Cash reward websites worth checking out are:
You don’t need to have any special skills to teach online. You can teach English to foreign students through websites such as VIPKid. Or you could be a homework tutor and advertise your services on Wyzant and TutorMe.
3. Rent your stuff
There are websites that allow you to list your property for rent. Why not make money from your existing assets, especially if you don’t use them all the time? Tools, spare parts, and vehicles are a few options. Some platforms worth checking out are:
4. Use your credit card
Having an open line of credit is a lifeline in an emergency. You can use your credit card to cover a last minute expense by using the card to make the purchase or get a cash advance.
keep in mind
A cash advance has higher fees than a regular purchase. And in both cases, you will have to pay off the balance on the card. Be sure to pay your installments on time to avoid damaging your credit and incurring additional fees and finance charges.
5. Take out a personal loan
If your credit card limit is not high enough to cover the expenses you need, a personal loan may be an alternative. However, personal loans often take time to apply for and be approved for – and require good credit.
For those who find it difficult to get a personal loan, payday loans or bad credit loans are available, but they come with very high interest rates which could create bigger problems later if you are not. not able to repay them quickly. Think of them as a last resort.
6. Look for public funding
Depending on the expenses you’re struggling with, you may be able to find government or community funding to help. There may be nonprofits or churches near you that could help. Some communities may offer short-term assistance that can help you with rent and utilities. Some hospitals offer subsidies or can write off hospital bills if you can’t afford it. The key is to research what is available in your city to find the help you need.
7. Pawned goods
If you have valuables that you are not ready to sell, you can pawn them. Wondering how a pawn works? You take your belongings to a pawnshop and the representative will appraise your items to determine what they are worth. They will lend you money based on the value of the item.
If you accept the loan, you will be paid, but you will have a certain period of time to repay the loan. If you do, your items are returned. If you are unable to repay the loan, the pawnbroker will keep your items and resell them to get their money back.
8. Ask for abstention
Forbearance basically means requesting a temporary deferral of your due payments. Although this option won’t put any money into your hand, it could free up some money that you would normally spend. Before choosing to delay any payments due, make sure you have your responsibilities clearly defined – you will need to make the payment in the future. Make sure you’ll be able to afford the payments later so you don’t find yourself in financial trouble.
Needing money now can happen to anyone. After all, life tends to throw the occasional curveball. You can walk through the situation with some knowledge of the types of options you might have. The options in this guide are some of the fastest ways to get money. Look for creative ways that help you avoid debt first.
Best Places to Earn Money FAQs
Many people have questions about ways to get money, the fastest way to do it, and where to start. Here are some answers to these questions.
- How can I get money immediately?
- One of the fastest ways to get money is to sell some of your possessions. It is also a good way to eliminate clutter from your life.
- Who can give me free money?
- Check with your local library or call 311 to find out if your community has programs that give you money for things like rent, groceries, or utilities.
- Does Cash App allow you to borrow money?
- How to make money in an hour?
- You can earn money in an hour by selling goods, working as a delivery driver, or completing online surveys. This guide offers many ideas on how to get money fast.
Our in-house research team and on-site financial experts work together to create accurate, unbiased and up-to-date content. We check every stat, quote and fact using trusted primary resources to ensure that the information we provide is correct. You can read more about GOBankingRates processes and standards in our Editorial Policy.