Life is unpredictable. Your car breaks down. Your refrigerator stops working. Your significant other needs medication. There are so many instances where getting money fast is needed. Unfortunately, you have already depleted your emergency fund account, so your only course of action is to tap your credit access, borrow from your best friend, or check out a payday loan service for easy ways to get money.
Knowing where to get money fast may be difficult, especially if you have already maxed out your credit card or you do not have enough credit to get a cash advance. When you need the money quickly, your options might be limited. Let’s explore where and how you can get your loonies and toonies as fast as you can say cat in a hat.
Here are nine quick and easy ways to get money fast:
1. Apply for a Cash Advance
A cash advance is one of the easiest ways to get the money you need almost immediately. You can get a cash advance either at the bank or through your online account. But you should just be careful that you will pay a fee, a percentage of the total amount.
Plus, if you do not repay the cash advance within a certain time frame, then you could very well pay interest, even if it is a couple of hundred dollars.
2. Check Out Online Lenders
The Internet has created a new industry: Independent online lending. This commercial sphere is split into two parts: private companies offering to lend you money and peer-to-peer lending that involves you and some person from anywhere in the world.
You will pay interest, but it is a good alternative if you are unbanked or cannot find good rates in brick-and-mortar stores. This is one of the easiest ways to get money fast that you can’t find anywhere else.
3. Get a Payday Loan
When you need a large amount, but not too much to justify a personal loan from your financial institution, then a payday loan could be one of the best ways to get money fast. It is true that payday loans have gotten a bad reputation in recent years, but a lot of it is media hype and hysteria, as studies suggest that customers are satisfied with the financial product.
Most microloans come with high interest rates and many fees, which could add to the overall repayment structure. But if you repay your loan within the allotted time, typically two to four weeks, then you will not bear the brunt of added costs.
4. Sell an Old Smartphone
There are two ways to employ a strategy of selling an old smartphone. The first is to search for a mobile kiosk that takes your smartphone, automatically analyzes it, and then offers you a market rate for your device. They are not as prevalent as they are in the United States, so you might need to execute a Google search in your city.
The second is to find a store in your area that buys smartphones. It will take some time to complete the transaction, but you can get instant cash, and the final sum will be reflected in the brand of smartphone. Put simply, if you own an iPhone and it is in reasonable condition, then you will get quite a bit. On the other, if you possess a Huawei and it is in modest condition, then do not expect much.
5. Ask for Money from a Friend or Family Member
Hey, remember when your friend Sally Sue asked you for $50 and you gave it to her without hesitation? Or, how about the time your brother needed $250 for a car repair and you gave it to him immediately? Well, now it is time that they do you a favour.
In a world of mobile payments and instant transfers, then you can ask a friend or a family member to lend you some money. Some people are not comfortable with this method, but it is one of the plausible ways to get money fast.
6. Get Rid of Your Junk for Money
How much junk have you accumulated over the years? From tablets to smartphones, from clothes to kitchen appliances you used once to mirror something you saw on “Masterchef,” you are likely one of many households who have stuffed their homes with stuff that you hardly use anymore.
But, as the saying goes, somebody’s junk is someone else’s treasure.
So, why not get rid of your junk? While a garage sale is a great idea, you need something fast. A simple remedy for this is to place your stuff on Kijiji or Craigslist and you will likely get a quick response.
7. Open a New Bank Account
Is there a bank in your neighbourhood that is offering you $300 for just opening a bank account? Well, if you need quick cash, then you should consider taking advantage of this promotion. It takes less than an hour to open a new chequing account and you get access to some quick cash.
And, who knows? Perhaps you will prefer banking with this financial institution in the end.
8. Unload Some Shares
Do you own 2,500 shares of Freeport McMoran stock? Do you have a few hundred shares of Kraft Heinz? Whatever the case, it would be prudent to unload some shares to ensure that you can get the money you need. In today’s world, holding a stock has become a liquid asset because you can gain access to this money almost immediately with an online brokerage account.
You do not put yourself into debt, you pay a minuscule fee to sell some shares, and you remain in the black (or green).
9. Do a Day Job
Is there someone in your neighbourhood who needs their garage or backyard cleaned up? What about online ads searching for someone to do some warehouse work on a Sunday morning? Indeed, there are many jobs like these that can give you the fast cash you need. Payment might be by cheque, but if it is already signed and endorsed, then it is as good as cash.