We’ve all been there: you have an unexpected emergency expense and not enough cash in your bank account to cover it. Whether it’s a car repair, medical expense, or home repair, sometimes we find ourselves in situations when we need cash fast.
If you are looking for ways to get money quickly or want to be prepared if you ever find yourself in that situation, you’re in the right place. Read on for our tips on what to do if you need money fast.
1. Payday Loan
A payday loan is a small loan that you get when you can’t make it to your next payday and need money now. It is essentially an advance on your paycheck and must be paid back relatively quickly, usually when you receive your next check.
The interest rate may be high as well, so you will end up paying more for the convenience of getting cash quickly. In a pinch though, this can be a viable option as you will get your money quickly.
2. Title Loan
A title loan is a secured loan that uses your assets as collateral. Most often, title loans use your car as collateral. You are getting a loan against the title of your car, and if you don’t pay, the lender will seize your car to pay off your debts.
The amount that you get will be based on the value of your vehicle. The interest rates tend to be higher with title loans, but the good news is that most lenders do not run a credit check, so you are able to get a title loan even if you have bad credit. Check out more at www.titleloanser.com.
3. Sell Your Stuff
Facebook Marketplace, Craigslist, antique shops, and even pawn shops are options to sell your stuff and get money fast. Pawn shops will hold your items for a certain period before selling them, so once you have money, you can come back and get them.
If you have valuable antiques, a pawn shop may not be the best option. In this case, just google “sell my antiques” to see the options in your area.
This is a good way to declutter your home and get cash quickly. If you price things right, they can often sell fast.
4. Find a Side Hustle
It might take more time than you have to earn money through a side hustle, but this is one way to make some extra cash to help make ends meet. From freelancing to rideshare services to personal shopping and grocery delivery, there are lots of options out there that don’t require special skills or equipment.
5. Rent Your Car
Newer services allow you to rent out your vehicle to those who need one. Apps and online services facilitate the rentals. This is an easy way to make money if you have a vehicle that can be used as many rentals are for short periods of time.
Need Cash Fast?
Use our suggestions if you need cash fast, just know that you often will end up paying higher interest rates if you borrow money. Make sure you fully understand the terms of any loans you take out before you agree to anything.
Did you find these tips helpful? Be sure to check out some of our other finance articles before you go.