Most emergencies like unexpected medical bills, job loss due to layoffs, and urgent auto and home repairs require you to have a substantial amount of cash at hand. Unfortunately, financial emergencies can hit anyone of us at any time, and most people are caught completely unprepared. In such situations, you should know ways to raise cash fast to cover the financial emergency. There are many ways to raise quick cash, but you should use smart ways to minimize the financial burden in the future. Choosing the wrong way can have a long term impact on your financial situation.
This post lists down some smart ways to raise cash fast in a financial emergency.
Sell Your Valuables:
Everyone owns some valuable items like gold, platinum, or diamond jewelry. Even if you don’t own precious metal, you may have other possessions that you don’t use anymore or have never used since you bought them. Sell them to raise quick cash. You can post an ad on Craigslist or any online marketplace. For example, you may have extra clothes that you never wear, a furniture item you have not used in months/years. Therefore, selling out anything of value is a good way to get emergency cash even if you can raise a few hundred dollars.
Get a Part-Time Job:
If your bills are due next month and you don’t have high-value belongings to sell, you can take on an odd job and raise money by selling your services. If you have time on your hands, you can be a baby sitter or a pet sitter for a few hours a week. You can make from $15 to $30 an hour by doing such odd jobs. You can also become a part-time Uber driver or wash the cars or mow the grass for people. Part-time jobs can easily get you a few hundred bucks within one weekend, depending on how many jobs you take on.
Take Out a Payday Loan:
If you hit by a severe emergency, taking out a payday loan is a legitimate way to get cash at hand. For instance, if you need money today and you don’t have credit cards, nor a family or friend can lend you money that quickly, you should apply for the payday loan. Generally, you will only need to provide proof of employment, and you can get guaranteed loan approval no credit check. A payday loan is a convenient way to acquire cash fast.
Liquidate Your Assets:
Another way to get cash at hand quickly is to liquidate your assets. For instance, you can sell off your car or latest model electronics and gadgets you possess like your laptop, smartphone, big-screen TV, game console. You can sell them to your friends who might need those items or run an ad in your local newspaper or online classifieds. You can also try selling any property you possess, like an apartment, a plot, or a house. Get help from a property dealer to sell your real estate asset quickly.