Whether you have unexpected medical expenses or your paycheck won’t quite cover the cost of your rent and utility bills, finding a way to cover your financial obligations when you’re in urgent need of money can seem impossible.
When you find yourself short on cash, it’s important to realize that you’re not alone. There are several resources available to help you when you are in urgent need of money. Here’s a quick look at some of your top options when money is tight.
Cash Advance Brokers
Getting a loan from a bank can take up to two weeks, and if your bills are due now, waiting that long could mean getting your electricity shut off or getting evicted from your apartment. Cash advance brokers and payday loan lenders are able to offer a quick and reliable solution for getting the money you need, when you need it.
The application for these loans takes only a few minutes to complete. By providing required information (such as proof of having a full time job, a valid checking account, and a steady home address), you can get immediate approval for a loan ranging from $300 to $3,000. These loans are even available for individuals with bad credit, ensuring that past credit issues don’t prevent you from getting the assistance you need.
It’s worth remembering that loans from cash advance brokers will be repaid with interest. While lenders use your income to establish an affordable loan repayment plan, you should be careful to ensure that repaying your loan won’t create further financial struggles.
Friends and Family
If you have close friends or family members with the financial means to assist you, they can quickly become one of your best resources when you’re in urgent need of money — especially since they typically wouldn’t ask you to pay interest when repaying the loan. If you have friends or family with the means and willingness to help, this can be an excellent option.
While the generous assistance of family or friends can help you cover unexpected financial obligations, there are several factors in play which could prevent them from being your go-to option. For example, your friends and family may not have the financial means to provide you with a loan. Many people are simply unwilling to loan their money in the first place, even when you have a close relationship with them or offer to pay the money back in a short amount of time.
Selling Personal Items
It may be hard to part with some of your possessions, but for many people, this is one of the most reliable ways to get cash when they are in urgent need of money. Yard sales, pawn shops, and stores that sell used electronics and clothing are just a few potential options for selling extra items when you need money.
Electronics, books and DVDs, and clothing can all bring in a decent amount of money at select stores as long as the items are in good condition. Items like bicycles or furniture pieces are typically better reserved for yard sales or online transactions.
Of course, selling personal items isn’t always the perfect solution, either. You may not be able to organize a yard sale quickly enough to get cash before the bills are due, or you may not have enough sellable items to generate the money you need. If you sell your TV or a piece of furniture, you’ll likely need to eventually buy a replacement as well. Consider your other options before selling something you’ll need to replace later.
By understanding the pros and cons of the different ways to get fast cash, you can be better equipped to make the right financial decision for your situation. By getting the money you need quickly, you’ll be able to resolve your financial issues and press forward.