Many people experience an unexpected need for cash at some point in their lives. Medical bills, car repairs, home repairs, and even pleasant things like Christmas presents or a vacation may require more money than a person has on hand. The following are some tips for getting extra cash in a hurry.
Sell Personal Belongings
One way to raise cash is to sell off personal belongings, like gold and silver jewelry, college textbooks, or designer clothes. Pawn shops can offer a quick payment, but they typically pay low prices. It’s possible to get a better price online through eBay, craigslist, or other online marketplaces, but selling online may take more time.
If it’s not possible to get extra hours or overtime at work, people who need cash can join the gig economy and drive for one of the car services or do odd jobs and errands on request. Another way to sell labor is to offer to do work for friends, like babysitting or pet-sitting. Good friends may even be willing to pay in advance.
Collect On Loans
It can be hard to demand immediate repayment of a loan, especially if the borrower is a friend. However, a borrower may be willing and able to repay the loan in full if the lender accepts a lower amount. For example, if a borrower owes $100, the lender can offer to settle the debt for $75 if the borrower pays right away.
Take Out A Loan
Taking out a short-term loan is another way to get cash in a hurry. Blue Trust Loans, for example, can deposit up to $2000 in a qualified borrower’s bank account in just one day, and the borrower can repay over a six-month period.
Get Cash For Credit
When people need cash in their hands right away, they can either use their credit card to take out a cash advance, or offer to put a friend’s purchases on their credit card in return for cash. Taking a friend shopping can avoid the high interest charged on a cash advance and may be able to provide more cash than the credit card company would allow.