There are times when an emergency or unexpected expense comes up. If you don’t have an emergency fund to rely on, you’re probably thinking, “I need money now” and unsure of where to find it. When payday is too far to be of any help, there are options and strategies that could help you find the fast cash you need to solve your problem.
1. Sell Some Items
When you realize that “I need money now” the fastest way to get fast cash is to look at what you currently have and sell it. Selling items is a good way to declutter your life — especially if you don’t use the goods you’re thinking of selling.
Some of the most profitable items to sell and cash out fast are:
- Electronics such as mobile devices and video game consoles
- Jewelry, especially gold
- Designer goods
Depending on the items you’re looking to sell, sources such as OfferUp, eBay, Craigslist, Facebook Marketplace, Swappa (for mobile devices/electronics) and Poshmark (for clothes and accessories) are good options. In most cases, all you need is to take some clear photos of the items you’re looking to sell and list them.
Do some research to price the item to sell fast. And when you receive interest in your goods for sale, be sure to use caution when closing on a deal to avoid being scammed, especially on Craigslist, OfferUp and Facebook Marketplace.
2. Grab a Side Hustle
If you’ve exhausted your possibilities of selling items, another good option is to pick up a side hustle to make some cash fast. Some gigs don’t even require special skills to make money now. The following platforms could help you boost your income fast.
Food and Grocery Deliveries
You can make some quick cash by taking work as a delivery driver. In most cases, you’ll need a mobile phone and download an app, have a driver’s license and an insured vehicle. If you meet the app’s requirements, you could start earning cash 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 free time to raise the cash you’re looking for. In many cases, working after hours could help you earn more.
If you’re unsure of driving passengers around, an alternative is to work as a package delivery driver for Amazon Flex.
Certain websites work with brands that pay you to take surveys, watch ads and videos, play games, shop online and more. Sign up is simple — in many cases, all you need is to enter an email address to get started and a PayPal account to cash out. In other cases, you could cash out with electronic gift cards. Cash rewards websites worth checking out are:
You don’t need to have a special skill to teach online. You could 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 Things
There are websites that let you list your belongings for rent. Why not make some money on your existing assets, especially if you don’t use them all the time? Tools, spare rooms and vehicles are some options. Some platforms worth checking out are:
- Turo: Rent your vehicle
- Swimply: Rent your swimming pool for the day
- Airbnb: Rent out a home or room
- Sparetoolz: Rent out your tools
4. Use Your Credit Card
Keep In Mind
A cash advance has higher fees than a regular purchase. And in both cases, you’ll need to repay the card balance. Be sure to pay your installments on time to avoid hurting your credit and incurring extra fees and finance charges.
5. Take Out a Personal Loan
If your credit card limit isn’t high enough to cover the expense you need, a personal loan may be an alternative. However, personal loans often take time to apply and get approved for — and require good credit.
For those who struggle with getting a personal loan, payday loans or loans for bad credit are available but come with very high interest rates that could create bigger problems down the road if you’re not able to repay them quickly. Consider them as a last resort.
6. Look for Public Funding
Depending on the expenses you’re struggling with, you may be able to find public or community funding to help. There may be non-profit organizations or churches near you that could help. Some communities may offer short-term help that can assist you with rent and utilities. Some hospitals offer grants or may wipe hospital bills if you can’t afford them. The key is to research what’s available in your town to find the help you need.
7. Pawn Goods
If you have valuable items you aren’t ready to sell, you could pawn the items. Wondering how a pawn works? You take your goods to a pawn shop and the representative will appraise your items to determine what they’re worth. They’ll loan you cash based on the item’s value.
If you accept the loan, you’ll get paid but have a certain period of time to repay the loan. If you do, your items are returned. If you’re unable to repay the loan, the pawn shop will keep your items and resell them to recover their money.
8. Request Forbearance
Forbearance essentially means requesting a temporary postponement on your payments due. Although this option doesn’t put cash in your hand, it could free up money you’d normally spend. Before you choose to delay payments due, be sure you’re clear on your responsibilities — you’ll need to make the payment up in the future. Make sure you’ll be able to afford the payments later so you don’t end up in financial trouble.
Needing money now can happen to anyone. After all, life tends to throw an occasional curve ball. You can get through the situation with some knowledge about what types of options you may have. The options in this guide are some of the fastest ways to get cash. Look for creative ways that help you avoid debt first.
FAQ on Best Places To Get MoneyMany people have questions on ways to get money, the fastest way to do it and where you can start. Here's some answers to those questions.
- How can I immediately get money?
- One of the fastest ways to get money now is by selling some of your goods. It's also a good way to clear the clutter from your life.
- Who can give me money for free?
- Check with your local library or dial 311to find out if your community has programs that give you money for things such as rent, groceries or utilities.
- Does Cash App let you borrow money?
- CashApp allows you to borrow money short term. This GOBankingRates CashApp guide will walk you through the steps.
- How can I make money in one hour?
- You can make money in one hour by selling goods, working as a delivery driver or taking surveys online. This guide offers many ideas on how to get cash fast.
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- OppLoans. 2022. "5 Reasons to Avoid Pawn Shop Loans"