Emergencies happen. Bills are due, but you do not have enough funds in your account to cover all of the bills.
Unfortunately, failing to pay a payment can have a negative impact on your creditworthiness and leave you in debt more thanks to late and various other fees.
You can try calling your respective creditors or service providers to discuss your options. But what if they don’t understand? You need to know how to get money in your bank account or stats, or you may lose a need before you can pay.
If you Your account overdrawn But if you want to avoid the dangers of payday loans, here are a few legitimate ways to get some cash quickly:
Use finance apps
Let’s say your internet bill is due in the second half of the month, but you don’t have the money to cover it because you need to prioritize rent, water, and other necessities.
Worse, your employer’s pay cycle will be delayed by the time you get your paycheck, so you are likely to go unpaid for several days. You can’t overdraw your account, but you also don’t want to find an internet cafe when you need to get online.
You could borrow money from a friend, but there is an easier way: use an app.
A great example is Earnin, a community powered app that lets you get your money after you’ve earned it.
It’s more than a quick buck app because those funds are rightly yours – you can get the $ 65 you need to pay your internet bill and Earnin will deduct the amount from your paycheck after it’s received is. It’s not your fault that the pay cycle got you messed up after all!
Sell your property
This option isn’t fun, but you might decide it is necessary if you are in a tight spot. There are no up-front costs to selling your stuff and you can keep 100% of the profits when you do 100% of the work.
Run a flea market or go to a pawn shop to see how much you can get on various items (preferably the ones you don’t need, like clothes and unused electronics). You can also sell possessions in apps like Let go, Decluttr and Poshmark that expand the customer base to which you have access. Some of your items can also be rented.
Run odd jobs
If you don’t want to sell your stuff and you have the time to squeeze it in, sell your labor and take gig work.
Common ideas include driving for ridesharing, delivering food, or sitting around the house (and with pets). One of the perks of side gig work is that you can do it in your spare time, choose what to attend, and do it as often or as little as you want.
Apps like TaskRabbit connect users to a variety of opportunities in their environment. Maybe someone needs help assembling a TV, assembling a piece of furniture, or cleaning their kitchen.
Whatever you want to or be able to do, doing odd jobs is a convenient way to make money quickly.
Take a credit card advance
Despite your current situation, is your creditworthiness OK? You may be able to withdraw a cash advance by credit card.
You have to pay a fee and interest (unless you pay off the balance by the due date) so be careful not to go into further debt unless you know yours financial hardship will improve in the near future.
Request an advance payment from your employer
With this in mind, consider asking your employer for an advance on your paycheck.
You will receive your salary or your wages early if your employer agrees and you will pay it back over the next wage period through a wage deduction.
The worst thing your employer can do is say “no,” so it never hurts to ask.
Apply for a loan
If you need a significant amount of money that none of the above options cover, you can apply for a personal loan.
Some lenders allow you to take out a loan in a day, but you will need good credit unless you want to stick with an incredibly high interest rate.
However, you can use a personal loan for something smart: debt consolidation. Between Medical bills, Utilities, rent or mortgage payments, student loans and everything else, these are a lot of obligations to keep in mind and pay the associated fees.
This piece of advice is not so much about getting you quick money as it is about saving you future headaches, but you can do it roll your debts in one and make a single, consistent monthly payment.
It is understandable when you are faced with difficult financial decisions. However, you have more options than you might know. So, consider your time, assets, debt, and other factors when looking for cash fast.