Even though we don’t like to admit it, there are some problems that only money can solve. Sometimes you won’t have enough money on hand to make ends meet, or there is some emergency that you need funds for right away. Whatever the reason, not having enough cash readily available to you when you need it most can be an incredibly stressful and frustrating time.
The good news is that there are a number of ways that you can access emergency money quickly and easily. Doing so, can give you great peace of mind and leave you in a much more comfortable position both financially and mentally.
How can I get emergency money fast? We’ll answer this question with eight possible sources of quick cash:
1. Cash advances
If you need some money quickly, then you should look to your credit card and see if there is the option of a cash advance. This allows you to take out cash up to the amount of your credit card limit. This might seem too good to be true and unless you are able to pay back the money quickly it can end up costing you. As with any use of your credit card if you end up paying interest in the cash advance you will be paying much more for the product than it is worth.
The interest on a cash advance from a credit card is usually much higher than if you use the card to purchase something. Keep that in mind when using this method of accessing cash quickly.
2. Payday loans
When you need money quickly, payday loans can be a great way of obtaining cash. They offer access to the funds that you need in the short term. As with any loan, it is very important that you understand the terms of the agreement.
If you fail to repay the loan within the specified terms, the interest can be quite high. However, the ease and speed at which you will be able to take the loan make this a worthwhile method to get emergency money. Just make sure you are able to repay the amount you owe within a short time period.
3. Personal loans
Contact your bank or other financial institution and ask them about your eligibility for a loan. You may find that you are able to secure the funds that you need. Even regular payments on a loan like this can have a positive impact on your credit score which over time will enable you to access other credit products at a lower interest rate so this is definitely worth looking into.
4. Drive for Lyft or Uber
If you are looking for more supplemental income, then the gig economy is ready and waiting for you. Ride-sharing apps like Uber or Lyft are a fairly easy way for you to make extra money in your spare time. As long as you have a driver’s licence and a car in good condition then you are well on your way to meeting the requirements to work for these companies.
5. Sell things you don’t need
If you have any big ticket items at home or collections of things gathering dust then it might be worth looking at the possibility of selling them online. This can be a great way to get some extra cash quickly with the added benefit of decluttering your home. You can sell your items on Facebook, Craigslist, eBay, and many others. You should make sure that you follow best practices when selling online and always meet the buyer in a public place.
6. Food and grocery delivery
Uber and Lyft can be lucrative, but if you are uncomfortable with the idea
If the idea of picking up strangers in your car, then you can always deliver food instead. This pays about $7-$18 per hour and if you can avoid getting parking tickets and keep up your customer satisfaction rating then you can start to make some really good money through this. Uber Eats, Doordash, Instacart, are a few examples of companies that you can register with and start delivering food.
7. Start a business online
There are some great ways that you can set up a website in moments, all you have to do is think of a product and then start marketing it online. If you have a creative flair one of the best places to start is Etsy. If you make something that people want, you would be surprised at how easy it is to start making money online.
8. Debt consolidation
If you need money to help pay off your debts then you should definitely look into debt consolidation as an option. This can help to lower your monthly payments and also massively reduce the stress that you have around debt payments.