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how to get money now

Quick Ways to Get Money Now – Fast Cash Options

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by

Kenneth Keith
in

Even if you’ve always been careful with your money and worked hard, unexpected things can still drain your savings. According to a 2024 report, only 44% of U.S. adults could pay for a $1,000 emergency from savings. This article will look at real ways to get cash quickly. We’ll talk about selling items, freelancing, and getting your paycheck early. We’ll also warn you about payday loans and title loans, which can lead to more debt.

Key Takeaways

  • Unexpected events can quickly drain your savings, with only 44% of Americans able to cover a $1,000 emergency from savings.
  • This article will provide legitimate strategies to get cash fast, such as selling items, freelancing, and accessing your paycheck early.
  • Avoid predatory options like payday loans and title loans, which can trap you in a cycle of debt.
  • Explore side gigs, pawn valuables, or request a payroll advance to quickly boost your cash flow.
  • Understand the potential risks and hidden costs before pursuing any fast cash solution.

Sell Spare Electronics or Pawn Items

If you need cash fast, think about selling your used electronics or pawning valuables. You can sell electronics for cash on sites like Swappa and Gazelle. Or, visit an ecoATM kiosk for cash in 5 minutes for phones, tablets, and more. You can also pawn valuables like jewelry, musical instruments, and modern electronics at a pawnshop for a loan. This is a good choice if you can’t pay back the loan, as the pawnshop keeps the item as collateral.

Sell Old Phones, Tablets, and More

You can sell old phones, tablets, and MP3 players for cash quickly. Sites like Swappa and Gazelle make selling easy and often pay more than carrier or retailer trade-ins. And with ecoATM kiosks, you get cash fast without the trouble of listing and shipping.

Pawn Jewelry, Instruments, and Other Valuables

You can also pawn valuables like jewelry, musical instruments, firearms, and more at a pawnshop. Pawnshops give you a loan based on the item’s resale value, usually 25-60%. The interest rates can be high, but it’s a quick way to get cash without hurting your credit score.

Item Pawn Value
Smartphones, TVs, Laptops $500 or more
Jewelry (rings, necklaces, watches) $100 or more
Power Tools (drills, saws, sanders) Around $20
Video Games, Accessories Around $20
Televisions, Laptops Around $100
Musical Instruments $100 or more

Whether you’re selling electronics for cash or pawning valuables, these options can give you quick cash when you need it.

Sell Unused Gift Cards

If you have unused gift cards, think about selling them for cash. Sites like CardCash and GiftCash will give you up to 92% of the card’s value. This lets you turn those gift cards into money you can use right away.

A Bankrate study found 47% of Americans have unused gift cards, with an average of $187 per person. Don’t let those cards go to waste. Use platforms like CardCash to exchange them for cash, getting up to 92% of the card’s value.

Gift Card Potential Cash Value
$100 Walmart Gift Card $86.50
$100 Apple Store Gift Card $72.00
$100 Microsoft Gift Card $63.00

Selling your unused gift cards is easy and fast. Most exchange sites let you do it online. You’ll get your money in your PayPal account or bank in a few days. Some sites, like CardSell, can give you cash in just 48 hours.

If you don’t want cash, some sites like CardCash let you trade your gift cards for other cards. You could get up to 11% more value than cash. This is a great way to get cards for stores you visit often.

Selling your unwanted gift cards is a smart move. It’s a quick way to get cash or swap for a different card. Exploring gift card exchange platforms is definitely worth a try.

Request a Payroll Advance

When you need money fast for unexpected costs or emergencies, you might want to ask your employer for a payroll advance. This means getting money before your next paycheck by asking your employer for an early payment. They will take it back from your next paycheck. Payroll advances are usually cheap or even free, making them a good way to get cash quickly.

Or, you could try an advance pay app like EarnIn. These apps let you get part of your pay before payday. They might charge a small fee or ask for a tip, but they can help you get paycheck early faster than waiting for your regular payroll advance from employer.

Accessing Earned Wages Early

Some apps let you access your money daily, up to $1,000 a day. They offer flexible payback options, like two to three business days for up to $500. For bigger amounts, you can get up to $100 a day and $750 per pay period.

Advance pay apps also have budget tools and extra perks for amounts from $10 to $250. Fees for quick advances range from $1.99 to $25.00. Some apps have a monthly subscription fee, usually between $1.00 and $8.00.

The time it takes to get a free advance can be from the next day to five days, depending on the app. Some apps ask for tips, while others don’t. Always check the app’s terms to know the costs and repayment times.

Paycheck advances are usually small, from $10 to $500, and don’t charge interest. They’re often like payday loans but without the high costs. Payroll advances can be a cheaper and more responsible way to get money fast.

With 63% of Americans living paycheck-to-paycheck, unexpected bills can be a big financial stress. Getting money early through payroll advances or advance pay apps can be a big help during hard times. It might also make your employer a better choice for new hires.

Take Out a Loan from Retirement Accounts

When you’re in a tight spot, taking a loan from your retirement accounts might seem like a good idea. You could borrow from your 401(k) or IRA for quick cash. But, it’s crucial to know the risks and downsides before you decide.

Borrow from 401(k): You might be able to borrow up to $50,000 or 50% of your 401(k) balance, whichever is less. You’ll have 5 years to pay it back, and the interest is a bit higher than the prime rate. But, if you don’t pay on time, the loan could turn into a taxable withdrawal. You might also have to pay it back fast if you change jobs.

Take loan from IRA: Getting money from an IRA is a bit trickier. You can only take one loan a year, and you have 60 days to pay it back. This is called a “60-day rollover.” If you don’t pay back the loan in time, it could be seen as an early withdrawal. This means you’ll face taxes and penalties.

Using retirement funds early might seem like a quick fix, but think about the long-term effects. Taking money out now can hurt your future financial security. You’ll miss out on growth and compound interest in your retirement savings.

401k loan

Before you decide to borrow from 401(k) or take a loan from IRA, look at other options. Consider emergency savings, credit cards, or personal loans. They might not affect your retirement plans as much. Talk to a financial advisor to see how accessing retirement funds early will impact you. They can help you find the best solution for your situation.

how to get money now

In today’s fast world, sometimes you might need money quickly. Luckily, there are many legit side gigs and freelance jobs that can help. If you want to make money fast, earn extra cash, or try side hustles, these options are flexible and rewarding. They let you work on freelance work and rideshare driving.

Freelance Work and Side Gigs

Upwork, Fiverr, and Toptal make it easy to show off your skills and find short projects. As a freelancer, you can use your skills and set your own prices. This lets you earn extra cash on your own time. Many freelancers see their earnings go up as they get more experience and build a strong portfolio.

Another way to make money fast is through the gig economy. Uber, Lyft, and DoorDash let you earn by using your car and free time. Rideshare driving is flexible, so you can work when it suits you. It’s a popular side hustle choice.

Earn Potential Flexibility Skill Requirements
Upwork, Fiverr, Toptal: Freelancers can charge more as they gain experience. Rideshare driving: Earn double or triple during peak hours. Freelancing: Utilize your existing skills and expertise.
Uber: Drivers can earn just under $169 per hour on average. Freelancing: Set your own schedule and work when it’s convenient. Rideshare driving: Requires a valid driver’s license and a reliable vehicle.

Whether you pick freelancing or rideshare driving, these side hustles are flexible and rewarding. They let you earn extra cash and make money fast in your free time.

Borrow from Life Insurance Policy

If you have a permanent life insurance policy with cash value, you can borrow against the policy’s cash value. This process is easy, with no credit check or long wait. By accessing the cash value of your life insurance, you can get the money you need fast.

The most you can borrow from a life insurance policy is usually 90% of its cash value. The interest rates for these loans are between 5% and 8%. This is lower than what you might pay on personal loans or credit cards. Also, these loans are usually tax-free. But, if you don’t pay back the loan or your policy ends, you could face tax issues.

To borrow against your life insurance, you must pay back the loan with interest. You can choose how long it takes to pay it back. But remember, any loan you don’t pay off will be taken from your death benefit.

  1. Life insurance loans are only for permanent policies like whole and universal life, which build cash value.
  2. If you don’t pay back a life insurance loan, it could reduce your death benefit or even cancel your policy.
  3. If you die with a life insurance loan, the company will take the loan amount from your death benefit.
  4. Life insurance loans don’t have a strict payback schedule. But, it’s best to pay them off quickly to avoid more interest and policy problems.

Borrowing from your life insurance can be a fast and easy way to get cash. But, think about the good and bad sides. Make sure you know how it could affect your policy and your loved ones.

“Borrowing from your life insurance policy can be a smart financial move, but it’s important to understand the terms and potential risks involved.”

Use a Credit Card Cash Advance

Need cash fast? A credit card cash advance might seem like a quick fix. But, it’s key to know the costs and downsides first. Credit card cash advances have high fees and interest rates. This makes them a pricey way to borrow money for a short time.

The usual cash advance fee is about 5% of what you borrow. And the interest rate can hit up to 30% or more. This is way higher than the average personal loan interest rate, which is just over 12% as of June 2024. So, a credit card cash advance can end up costing you much more than a personal loan.

Understand the Costs

Before you think about a credit card cash advance, know these possible costs:

  • Cash advance fee: This fee is usually 5% of the cash you borrow.
  • Higher interest rate: The APR for cash advances is often much higher than for regular purchases, sometimes up to 30%.
  • No grace period: Interest on cash advances starts right away, unlike regular purchases which might have a grace period.
  • Foreign transaction fees: If you’re getting a cash advance abroad, you might face extra fees like currency conversion charges and ATM fees.

Make sure to check your credit card’s details well to know the exact fees and interest rates for cash advances before you decide.

A credit card cash advance gives you quick cash, but it’s wise to look at other options first. Consider personal loans or borrowing from friends and family if you can. These might be cheaper and won’t hurt your credit score as much.

If you choose a credit card cash advance, make a plan to pay it back fast. This way, you can avoid getting stuck with high-interest debt.

Look for Payday Alternative Loans

Need cash fast? Consider payday alternative loans (PALs) for a cheaper option than traditional payday loans. These are small, short-term cash advances from some credit unions. They aim to offer a safer choice for those needing quick financial help.

Unlike payday loans with high APRs, credit unions limit PALs to a 28% APR. This makes them a great choice for those looking for payday alternative loans, short-term loans from credit unions, or fast small-dollar financing.

To get a PAL, you must be a credit union member. Membership can depend on where you live, your job, or other connections. The application looks at your income and repayment ability, not just your credit score.

PALs are great because credit unions report payments to credit bureaus. This helps borrowers build their credit over time. Payday loans often lead to debt and don’t help credit scores.

Loan Type Loan Amount APR Range Repayment Term
Payday Alternative Loan (PAL) I $200 – $1,000 Up to 28% 1 – 6 months
Payday Alternative Loan (PAL) II Up to $2,000 Up to 28% 1 – 12 months

Not every credit union offers PALs, but checking local options can be a good way to find a budget-friendly, credit-building alternative to payday loans when you need fast small-dollar financing.

“Payday Alternative Loans (PALs) from federal credit unions offer amounts between $200 and $1,000 for PALs I and up to $2,000 for PALs II, with a maximum annual percentage rate (APR) of 28% for both types.”

Get a Personal Loan

Need quick cash? A personal loan might be the answer, even if your credit isn’t perfect. Many lenders today offer fast funding for personal loans. They can approve your application and give you the money in just one business day.

Personal loan interest rates vary from 6% to 36% APR, based on your credit score. But, these loans are often cheaper than payday loans or credit card cash advances. Companies like Discover, LightStream, Upstart, and Upgrade work with different credit scores, from great to poor.

Quick Access to Cash with Personal Loans

If you have good credit (at least 690), you might get a personal loan in the next business day. Even if your credit is fair or bad (below 689), you can still get a loan, but the rates will be higher, up to 36% APR.

Another way to get cash fast is to borrow from family or friends using peer-to-peer apps. This can give you quick access to cash with personal loans without the high interest of payday loans or credit card cash advances.

Lender APR Range Loan Amounts Repayment Terms
Discover Personal Loans 7.99% – 24.99% $2,500 – $40,000 36, 60, 84 months
Citibank 11.49% – 20.49% $2,000 – $50,000 12 – 60 months
LendingClub 8.98% – 35.99% $1,000 – $40,000 36 or 60 months
SoFi 8.99% – 29.49% $5,000 – $100,000 24 – 84 months

For personal loans for bad credit, it’s key to compare offers and know the terms. Interest rates can be high. But, if you need fast personal loan approval and quick access to cash, a personal loan might be better than payday loans.

Rent Out a Room or Space

Want to make some quick cash? Think about renting out an extra room or space in your home. Sites like Airbnb make it simple to list and rent out unused parts of your home to guests. This can be a great way to rent out extra room and make money from short-term rentals.

One person made over $18,000 from renting a spare room on Airbnb in two years. By renting a room for just two weekends a month, you could cover a big part of your rent or mortgage. If you can rent out your whole home when you’re away, you could make even more money.

To start, just list your space on Airbnb. It’s free, and Airbnb pays you about 24 hours after guests check in, minus a 3% service fee. Just make sure short-term rentals are okay in your area before you begin.

Other sites like Neighbor.com, PeerSpace, and ShareMySpace also let you list space on Airbnb and earn from unused parts of your home. Whether it’s a spare bedroom, basement, garage, or parking spot, there are many ways to make money from short-term rentals.

Platform Typical Fees Earning Potential
Airbnb 3% host fee $50,000+ per month (for some hosts)
Neighbor.com 4.9% + $0.30 per transaction $300 to $3,000 per year
PeerSpace 15% service fee Varies based on location and space

Renting out extra space can be a smart way to make money from short-term rentals. But, think about the risks like property damage or not getting paid. Always check out potential guests well, keep good communication, and keep detailed records of your money and costs.

rent out extra room

“By renting out a spare room on Airbnb for only two weekends a month, a person could potentially cover the majority of their rent expenses.”

Pet Sitting or Dog Walking

If you love animals and want to earn extra money, consider pet sitting or dog walking. Apps like Rover and Wag connect you with pet owners nearby. You get paid for taking care of their pets.

As a pet sitter, you can care for pets at your home, theirs, or just visit them. On Rover, sitters can make up to $1,000 a month. They start at $15 per visit, and rates can go up to $20 or even $40 or $50 a day.

Dog walking is also a good choice. You can charge between $20 to $100 per walk, based on where you live and what you offer. A 20-minute walk on Wag costs between $12.75 to $19.99 for one dog. An hour-long walk is about $25.50 to $36.99.

Earn Extra Cash Caring for Pets

Pet sitting or dog walking is a great side job, especially for students or animal lovers. One sitter made $2,800 in a year before expenses, mostly from regular clients.

This job is flexible and easy, needing little thinking. You can deduct miles driven for pet sitting. Plus, happy clients can lead to more work.

But, be ready for challenges like pet sickness, dealing with waste, and changing fuel costs. You’ll also need to keep pets safe by checking clients and sharing your location with trusted people.

Pet sitting and dog walking are rewarding and can make good money. By using apps like Rover or Wag, you can earn extra. Plus, you get to care for pets in your area.

Conclusion

Dealing with a cash shortage can be tough, but there are many fast cash solutions and quick money ideas out there. You don’t have to turn to payday loans. This guide has shown you ways to make money fast, like selling old electronics and taking on side jobs.

It’s important to build your emergency funds for future surprises. This way, you won’t get caught off guard by unexpected bills. Avoiding high-interest debt is also key to staying out of financial trouble.

By being creative and putting in the work, you can quickly get the cash you need. This helps you handle financial challenges and get back on track. The main idea is to find fast cash solutions that fit your skills and resources. At the same time, focus on your long-term financial health and avoiding debt traps.

This balanced approach will help you overcome financial obstacles. It sets you up for a more stable and secure financial future.

FAQ

How can I sell my spare electronics or pawn items for quick cash?

You can sell old phones, tablets, MP3 players, and pawn items like jewelry and musical instruments for cash quickly.

How can I sell my unused gift cards for money?

Use websites like CardCash and GiftCash to exchange your unused gift cards for cash. You can get up to 92% of the card’s value.

How can I get a payroll advance from my employer or access my earnings early?

Ask your employer for a cash advance on your next paycheck. Or, use apps like EarnIn to get your earned wages early.

How can I borrow from my retirement accounts to get quick cash?

You can borrow from your 401(k) or IRA for cash. But, be aware of the tax implications and repayment terms.

What are some legitimate side gigs and freelancing opportunities to earn extra cash fast?

Look into freelancing on Upwork and Fiverr, or driving for Uber or Lyft. These are great ways to make quick cash.

How can I borrow against my life insurance policy to get cash?

If your life insurance policy has cash value, you can borrow against it. This is a simple process.

Is taking a credit card cash advance a good option for quick cash?

A credit card cash advance gives you fast funds. But, it’s expensive due to high fees and interest rates. Use it only if necessary.

What are payday alternative loans, and how can they help me get fast cash?

Payday alternative loans (PALs) are small, short-term cash advances from credit unions. They have lower interest rates than traditional payday loans.

How can I get a personal loan quickly, even with bad credit?

Some lenders offer fast personal loans, even for those with poor credit. However, you’ll pay higher interest rates.

How can I make money by renting out a room or space in my home?

Use websites like Airbnb to rent out a room or space in your home. It’s a quick way to earn money, especially in desirable areas.

How can I get paid for pet sitting or dog walking?

Apps like Rover and Wag connect you with pet owners. You can earn up to

FAQ

How can I sell my spare electronics or pawn items for quick cash?

You can sell old phones, tablets, MP3 players, and pawn items like jewelry and musical instruments for cash quickly.

How can I sell my unused gift cards for money?

Use websites like CardCash and GiftCash to exchange your unused gift cards for cash. You can get up to 92% of the card’s value.

How can I get a payroll advance from my employer or access my earnings early?

Ask your employer for a cash advance on your next paycheck. Or, use apps like EarnIn to get your earned wages early.

How can I borrow from my retirement accounts to get quick cash?

You can borrow from your 401(k) or IRA for cash. But, be aware of the tax implications and repayment terms.

What are some legitimate side gigs and freelancing opportunities to earn extra cash fast?

Look into freelancing on Upwork and Fiverr, or driving for Uber or Lyft. These are great ways to make quick cash.

How can I borrow against my life insurance policy to get cash?

If your life insurance policy has cash value, you can borrow against it. This is a simple process.

Is taking a credit card cash advance a good option for quick cash?

A credit card cash advance gives you fast funds. But, it’s expensive due to high fees and interest rates. Use it only if necessary.

What are payday alternative loans, and how can they help me get fast cash?

Payday alternative loans (PALs) are small, short-term cash advances from credit unions. They have lower interest rates than traditional payday loans.

How can I get a personal loan quickly, even with bad credit?

Some lenders offer fast personal loans, even for those with poor credit. However, you’ll pay higher interest rates.

How can I make money by renting out a room or space in my home?

Use websites like Airbnb to rent out a room or space in your home. It’s a quick way to earn money, especially in desirable areas.

How can I get paid for pet sitting or dog walking?

Apps like Rover and Wag connect you with pet owners. You can earn up to $1,000 a month as a sitter or charge $20 to $100 per walk.

,000 a month as a sitter or charge to 0 per walk.

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