What Is “Fast Cash”?
In today’s modern world, “fast cash” can mean many different things to many different people. To some it could be a handful of coins pulled from a jar when you were a kid, to another it could be an ability to make a quick buck from an investment opportunity. But to most, fast cash will mean a short-term solution to financial need.
When someone has an immediate need for funds, “fast cash” will usually involve some form of borrowing or borrowing-like arrangement with a lender or maybe even a friend. It might be an overdraft or an installment loan, for example. It could also involve something like a pawn or title loan, which can be helpful if you have an item of value to trade in temporarily.
Today’s article will discuss the various ways you can make fast cash. None of these solutions will work for everyone and it is important to ensure that you are able to make the repayments, before taking on any commitments.
How To Make Fast Cash: 8 Different Ways
- Take On Additional Work:
If the funds you need are not too significant, then the easiest and most straightforward way to make fast cash is to take on additional work. This could range from offering services such as delivering groceries or furniture, freelancing on websites such as UpWork, or taking up a casual job in hospitality or retail.
Many employers might also offer overtime rates or other bonuses if you can start work quickly. Speak to them directly to find out what options are available. Furthermore, you could also consider running errands or tasks online through sites like TaskRabbit, or selling items on websites such as eBay.
- Sell Unused Items:
Another way to make fast cash is to start selling items you no longer use or need. This could be anything from old electronics, to clothing, to vintage furniture, and so on. Most items can be sold in-person on websites such as Craigslist or through apps such as LetGo.
You can even sell new items lying around your house that are still in the packaging. If you don’t want to deal with the hassle of listing items for sale, you could take them to a pawn shop and get a quick loan with items as collateral.
- Get A Cash Advance Payday Loan:
If you are short of cash before pay-day, a cash advance payday loan can be a lifesaver and provide you with fast cash. These loans are typically smaller amounts that you pay back when you next receive your wages.
Payday loans are convenient, but they also come with high interest rates. Make sure you do your research and consider all the different interest rates and terms available before you take on any commitments.
- Borrow From Friends Or Family:
Another popular way to make fast cash is to borrow money from friends and family. While this might seem obvious, it is not always the best move. When borrowing from family and friends, there can be a lot of emotional baggage involved.
If you do decide to pursue this option, it is important to be very clear about when you are going to repay the money, as well as be transparent about how you will use the loan.
- Use Your Credit Card To Get Cash Advances:
If you have a credit card, you could get a cash advance on it for some fast cash. While this can be a convenient solution, it is important to consider the fact that cash advances will generally come with much higher fees and interest rates than regular purchases.
Furthermore, you should also be aware of your credit card’s policy, as many credit card companies might have additional terms when it comes to cash advances.
- Try Peer To Peer Lending:
Peer to peer lending is becoming increasingly popular and allows you to borrow money from an individual lender. To do this, you would need to join a peer to peer lending platform such as LendingClub.
Once you join, you will be able to apply for a personal loan from an individual lender who is interested in investing in loan products. Each lender will have their own terms and interest rates, so it is important to shop around before you commit.
- Try Your Luck at Gambling:
This might not be the wisest move, but if the funds you require are not too big, you could try your luck at your local casino or online gambling site. Gambling is not to be taken lightly and if you ever find yourself in a situation where you are playing to make money, it is time to reassess.
- Look For Government Grants
Another way to make fast cash is to apply for government grants or low-interest loans. This is an option that is most often available to those living in extreme poverty or have a long-term disability. Grants can also be available to those who are not as severely disadvantaged and funding can be used to cover educational expenses, home repairs, debt reduction and more.
It is always important to check with your local government or social services agency to find out what grants and assistance are available for you.
Making fast cash does not necessarily involve taking risks. Depending on your personal situation, there are numerous ways for you to make fast cash. The options range from taking on additional work to borrowing from family or friends, getting a payday loan or cash advance, or even applying for government assistance.
No matter which one you choose, it is important to make sure you do your research, as each option comes with different fees and interest rates. It is also important to remember that most of the solutions discussed today are only meant as a short-term fix. If you think you need more comprehensive financial help, make sure you contact a qualified financial advisor who can help you devise a long-term solution to your problem.
