Once in a while, we find ourselves facing a cash emergency. And at that point, the major question will begin to ask ourselves is what we can do to get the money we need.
No doubt we can say that financial emergencies are one of the primary causes of stress for individuals around the globe. Money problems can be a hindrance to your ability to pay your bills by groceries afford your mortgage and run your day-to-day expenses.
The good news is there are lots of options that you can take advantage of if you need urgent money. A couple of them are short term fixes while some are long-term fixes. However, all of these options serve the same purpose of helping you get your hands on some emergency money.
Below are some of the wonderful options you have and all of them are easy to do. Oh! And most importantly they are legal so you don’t have to worry about getting into any police trouble.
1. Work a few odd jobs
If you need to get some quick cash to help pay back a loan, always remember the old-fashioned ways people made money such as raking leaves, mowing lawns, babysitting, shoveling snow, or even running some errands.
I understand that these jobs may seem like things that younger people should do, but individuals who need such services will always be there and they are always willing to pay for it so why not take the opportunity to offer the services and get the money that you need?
Unlike before, it is much easier to make some money on the side because there are several famous contractor jobs that have been made available and you can even do them using your smartphone on your laptop.
To get involved in some of these jobs, you can sign up for TaskRabbit. you can also start walking dogs by signing up with Wag, you can also become an Uber or Lyft driver. You’ll be surprised at how much money you will be making on a weekly basis if you engage in some of these online jobs.
2. You can hold an online sale or a yard sale
If there are things you own in your home or apartment that are just lying around and you can easily part ways with, then it’s not a terrible idea to hold a yard sale or even create an email account where you can make some extra money.
That old stuff that you have lying around and you think is useless might just be what somebody is looking for, and it will be shocking how much you can make by selling off that thing. Another advantage of selling things you don’t need is that you get to reduce the clutter in your home.
3. Bonds, CDs or Stocks
This is one option that a lot of people do not want to think about. However, if you know you have some money in an investment, and you’re finding it difficult to make ends meet, then it might not be a bad idea for you to sell some of them so that you can meet up with your immediate needs.
It is also important that you do not forget that cashing out some kinds of stocks, bonds, or CDs may definitely be due to paying some taxes at the end of the Fiscal year.
4. There’s the option of auto title loans
A car title loan or an auto title loan is an awesome way for you to lay your hands on some quick money if you need it in a few hours. A car title loan is a secured loan where you have the privilege of borrowing money against your car’s value. If you do not have great credit, but you have a clean car, then this loan is a great option for you because they are very easy to get and quick as well.
The value of an auto title loan is generally between $100 and $5000. Nevertheless, they can go a lot higher; it all depends on the value of your vehicle. It is quite easy to get a car title loan online because the lenders allow you to share all the necessary information and documents online.
Furthermore, there are a couple of things that you should keep in mind if you are thinking of getting a car title loan. One of the most important things you must know is that they do come with a very high-interest rate and also an annual percentage rate.
Another thing that is vital to remember about title loans is that the most commonly used payment term is one month. If you find it difficult to pay back your loan within the specified period you could risk losing your car to the money lender.
5. Donating plasma
Not a lot of people would like this option, but it is not a bad one. Try to see donating plasma as not just the way of making some extra money but as a way of helping your local medical community.
Depending on how much money you’re looking for, you can make as much as $40 by donating plasma. It is healthy for you to donate plasma as much as twice a week. Even though I wouldn’t advise you do it every week, if you do decide to do it for an entire month you could be raking in hundreds of dollars and also helping people.
Bear in mind that you can’t just walk into any medical centre and donate plasma without going through a medical evaluation. You should also know that it is possible for you to become fatigued after donating plasma, so it is vital that you carry along with you some sugary snacks for after donation.
Do not take the risk of trekking a long distance back home after donation, look for someone to drive you home or take public transport.
6. You can get a credit card cash advance
If you have been able to maintain a good relationship with your credit card provider and you have made sure to pay your balances off before, then you can go ahead and explore the option of taking a credit card cash advance.
A credit card advance will take you out of your financial problems exactly when you need it because just like other forms of credit card purchases this one would have the cash delivered in your account immediately. Your lender will expect you to pay back the same way you pay back your credit card balance. However, you must be in mind that this option will come with some additional fees and rates.
7. Search for local charities
There is no shame in reaching out for help when you truly need one so if you are in some financial trouble and you have exhausted all your options you should consider reaching out to a local charity. If you search carefully enough, you will find local charities that meet the needs of people in similar situations.
8. Reach out to loved ones
Most of the time we find it difficult to ask our friends and family members for financial aid because we feel like it may be a burden on them and it might be a little shameful. But this is just another bridge you have to cross, and you might not regret it.
One reason why friends and families do not like to lend out money to their loved ones is that they fear they might not get their money back. But make sure that you build integrity and create a repayment plan so that if ever you need your help again they will be there to support you.
To make paying back a loan borrowed from friends and family is here try to think of it as a professional transaction. This will help you have enough push to pay back and also make the borrower understand that you are serious person. Do all you can to see that you are timely with your payment.
The worst thing that can happen to anybody is the feeling of hopelessness. With the above options, you do not have to feel hopeless, all you have to do is make the decision to take one of the opportunities and get the money that you need. We wish you good luck as you make as much money as you can.
Have you been in a tight situation where you desperately needed money? What honest options did you use? Feel free to share them with us in the comment section below.