Even if you’ve always managed your money responsibly and worked hard, unforeseen events can easily overwhelm your cash reserves and you may need some fast cash in your life.
Let’s explore some of the legitimate ways to find the money you need.
16 ways to find money fast
Here are some of the best places to look for a legitimate source of funds if you need cash fast.
1. Sell something
If you have something lying around your house gathering dust, you can turn it into money. Whether you have old electronics, collectibles, furniture, household equipment, or something else, you can list items for sale on Craigslist or Facebook Marketplace.
2. Host a garage sale
Not a fan of online item listings? You can hold an old-fashioned garage sale to turn your clutter into cash.
3. Pawn something
Don’t want to part with something that has sentimental and monetary value?
A pawnbroker might be an option for you. You can pawn an item to put some money in your pocket today. Then you will have time to find new funds to recover the object.
It’s far from a perfect solution (there are finance charges, for example), but it could work in a pinch.
4. Sell unused gift cards
Do you have a gift card to a store you will never go to?
The well-meaning gift could turn into some of the money you need with the help of online gift card resellers like CardCash. However, it will take a few days for the transaction to clear and you to receive your funds.
5. Access your salary sooner
If you’re having a temporary cash flow problem, getting your paycheck a few days early could help solve your short-term cash flow problem. To win, for example, is an application that will allow you to quickly access your paycheck without any fees or interest payments. The company does, however, ask for tips. Also keep in mind that your next salary will therefore be lower.
Some banks, like Fifth Third Bank, and challenger banks, like Chime, also allow you to access your paycheck a few days earlier.
6. Pet sitting
You can choose to keep the animal with someone else or bring it to your home. Either way, you can set your rates to earn between $20 and more per night.
7. Child care
If you don’t like pets, you can choose to babysit instead. Care.com makes it easy to connect with families who are looking for a babysitter. Depending on your location, you could earn at least $13 per hour.
8. Ask a family member or friend for a loan
If you’re struggling to find the funds you need, it might be time to turn to your family. Before diving down this path, make sure you have a solid plan to repay the loan within a reasonable time frame. Otherwise, you run the risk of disrupting the relationship.
9. Earn money from food delivery services
Food delivery services have become big business in recent years. You can join one of the many services as a delivery person to bring home some quick cash.
10. Rent extra space
Do you have an extra bedroom? You can turn that space into cash quickly with the help of a service like Airbnb. If you live somewhere popular, this is a particularly lucrative opportunity.
Once the guest has checked in, you will receive payment from Airbnb 24 hours later.
11. Consolidate your debts
If you have decent credit and several outstanding loans with high interest rates, you might benefit from debt consolidation. Although you technically won’t make any money from this strategy, it can help reduce the amount you pay in fees, leaving you with extra cash flow each month.
Discover the best debt consolidation loans with Bankrate.
12. Returning Objects
You can find freebies on sites like Craigslist to earn money. Look for items that have some inherent value but need a little TLC.
For example, you might find a free library that needs a little elbow grease. Take the time to make the free item more appealing, then sell it for a profit.
13. Take part in a medical study
Although medical education opportunities are not available in all cities, it can be a ready-made way to earn some quick cash. On average, you can expect to earn between $50 and $300 per day for your participation in medical studies, according to Miami Clinical Research.
Explore medical education options in your area with ClinicalTrials.gov.
14. Turn coins into cash
Do you have a jar of coins at home? Consider taking them to the bank for a deposit. You won’t get rich, but you might have enough to cover a minor problem.
Before going to the bank, call ahead to find out if the financial institution will charge a fee to deposit coins. Although some banks offer free coin exchange, others charge a fee.
15. Find Unclaimed Money
There may be funds waiting to be claimed by you. Although the missing money may take some time to be claimed and show up in your account, this is a strategy worth considering.
You can find unclaimed money owed to you with a little help from the federal government.
16. Ask for a raise
A raise for the job you are currently doing could be a longer-term solution to the financial problems you are facing. Never be afraid to ask for the raise you know you deserve.
Of course, this will not happen overnight. But it might help solve some of your money problems on a regular basis.
Need help starting the conversation? Check out our top tips.
Avoid these sources of quick cash
Not all options for getting quick cash are a good idea. Here’s what to avoid.
Payday loans are unsecured personal loans that must be repaid with your next paycheck. Unfortunately, high interest rates and short maturities can lead to a vicious cycle of increasing debt.
If possible, avoid payday loans.
Car title loans use your car title as collateral for a short-term, high-interest loan. With this option, you put your vehicle on the line to access a high-interest loan that is often charged with fees.
If you have a choice, look for another option.