I Need Urgent Money Now! Who should I turn to if I need money right away?
Finding a way to cover your financial obligations when you’re in desperate need of money can seem impossible, whether you have unexpected medical expenses or your paycheck doesn’t cover the cost of your rent and utility bills.
When you’re short on cash due to an unexpected life event, it’s important to remember that you’re not alone. When you are in desperate need of money, there are several resources available to assist you. Here’s a quick rundown of some of your best options for getting cash when money is tight.
Cash Advance Brokers
A bank loan can take up to two weeks to process, and if your bills are due soon, waiting that long could result in your electricity being turned off or you being evicted from your apartment. Furthermore, they may reject your application, particularly if you have a poor credit rating.
Cash advance brokers and payday loan lenders can provide a quick and dependable solution for getting the money you require, when you require it. However, there are alternatives to payday loans!
These loans are fast and easy to apply to
The application process for these alternative loans is quick and easy. You can get immediate approval for a $300 to $3,000 short-term loan by providing required information (such as proof of a full-time job, a valid checking account, and a consistent home address).
These quick cash loans are even available to people with bad credit, ensuring that previous credit issues do not prevent you from receiving the help you require.
You must remember that these loans have interest
It’s important to remember that unsecured loans from online cash advance brokers have variable interest rates. While payday lenders use your current income to determine an affordable loan repayment plan, you should be cautious to ensure that repaying your loan will not result in additional financial difficulties. If you are unsure about your ability to repay, you can look for a low-cost online loan solution with a lower interest rate.
Friends and Family
If you have close friends or family members who have the financial means to help you, they can quickly become one of your best resources when you need cash fast — especially since they won’t ask you to pay interest on the loan. If you have friends or family who have the means and are willing to assist, this can be an excellent way to start an emergency fund.
Some facts to remember
While the generous help of family or friends can help you cover unexpected financial obligations, there are several factors at play that may prevent them from being your first choice. For example, your friends and family may not be able to provide you with a “family loan” due to financial constraints.
Many people are simply unwilling to lend their money in the first place, even if you have a close relationship with them or offer to repay the money quickly.
Selling Personal Items
When they are in desperate need of money, they need to find reliable ways to obtain it. There are a few places where you can sell your items:
- Garage sales,
- Loans from pawn shops,
- Retailers of used electronics and clothing
These are just a few possibilities for making money by selling extra items.
Focus on good conditions items
Electronics, books, DVDs, and clothing can all bring in decent money at certain stores if they are in good condition. Bicycles and furniture are typically better suited for yard sales or online transactions.
Avoid selling items you’ll need to replace later
Of course, selling personal items isn’t always the best option. You may not be able to organise a yard sale quickly enough to raise much-needed funds before the bills are due, or you may not have enough sellable items.
If you sell your TV or a piece of furniture, you’ll almost certainly need to replace it. Before selling something you’ll need to replace later, think about your other options.
Analyse the pros and cons before choosing
You will be better equipped to make the right financial decision for your situation if you understand the pros and cons of the various ways to get fast extra cash. You’ll be able to resolve your emergency expenses and move forward if you get the money you need quickly.
If you need assistance determining which option is best for you, you can also contact a credit counselling society or a chartered credit union.
