There are times when you and I need money desperately. It could be to pay up an emergency loan, or the bills at hand.
Financial experts encourage people to save 20% of their income. But for many people, it is impossible to meet up that saving target. So what do you do when you are cash strapped and in desperate need of money?
Take a deep breath; let me show you some ways to raise a reasonable amount of money within the shortest possible time. After all, isn’t that what this is all about?
I need money desperately: How to find cash when you desperately need it
- Sell electronics
Is there a spare cell phone or tablet in your house that you can comfortably let go of?
For instance, you can get $152 from Gazelle for a well-functioning iPhone8 with 128GB memory.
However, ensure you do not get tempted enough to sell your essential electronics like a television or even dishwasher when you need money.
They may bring you the immediate amount you need or more, but you will find it more challenging to get another set for yourself.
- Rent a room
You can make up to $1,000 to rent an unused part of your apartment. You can make more than that if you have already furnished the part you are renting out.
If the space you have is not up to a full room to rent out, you can even get a person to share the one you live in and still get paid for it.
Though people know sites like Airbnb to be for listing vacation homes, the site also allows you to rent out your room or get a person to share it with you.
The site does not charge you for creating a list. But you will pay a 3% service fee after you have rented the place or a reservation has been made. You will get the payment for your property 24 hours after the guest has checked in.
- Sell your gift cards
If you have unused gift cards lying around the house, it could be time to sell them out.
Depending on the value of the gift cards you have, you can get between $15 and $1,000 from selling them.
However, expect to get less than the value of the card. Sites like CardPool will pay you 85% of the value of the gift card you have. Meanwhile, you can get a 92% pay from CardCash.
You may need to wait for some days before getting the payment for your gift cards. Because you will have to mail the card and wait for them to either make a direct bank deposit or get a check.
Also, you can advertise that you have gift cards for sale on craigslist or Facebook to get buyers. However, ensure that you get the complete payment for the cards before releasing the details to the buyer.
- Sell your designer clothes and bags
You can sell your designer clothes and bags and make up the amount you desperately need.
You can list your wardrobe on Craigslist to sell and place a fair and competitive price for your designers or old clothes.
Though it may be a challenging option, you can take it if the need for the money is that pressing. You can make up to $300 for that designer purse lying around.
Sites like Rebag make it easy for people to sell off their designer bags at a reasonable price.
- Sell your clutter
Think of it; many of us have the habit of keeping unused items around, not minding the space it is taking up around the house.
Now may be the right time to sell them off and get the desperate money you need.
Just so you know, you can make up to $1,000 selling items like jewelry, furniture, appliances, and even decorative items to second-hand enthusiasts. If you have vintage items, you can also list them on Etsy.
- Get paid to do a task on TaskRabbit
Maybe you may have heard of TaskRabbit and not know what it is.
TaskRabbit is a site that links Taskers to busy people who need a helping hand to help them do tasks like home repairs or even minor errands.
The list of tasks to do on this site is almost endless, and everyone can get what they want.
You can become a Tasker on TaskRabbit and get paid to do what you love at the location you want.
To join TaskRabbit, sign up and create an account and then download the TaskRabbit and complete your registration.
You will be required to submit your business verification and confirm your identity.
A fee of $25 will be required before you complete the registration. According to them, the fee is to help them offer you the best services.
When these are in place, you can then set the days, and time you will be available at each hour and choose the type of tasks you will be doing. To get jobs immediately, opt for same-day jobs.
Gradually, you can grow your business at your own pace and terms.
- Do the delivery job with Postmates
Postmates deliver anything to any city at any time, and you can start making money by joining them.
Postmates are present in over 2,940 cities in the United States and take orders from more than 350,000 restaurants. You can offer your services from any of these cities.
Besides Postmates, you can also take delivery jobs with OrderUp and start working immediately.
- Get paid to be a virtual friend
Being a virtual friend really pays, and it is an easy and fun way to make money immediately.
Since you desperately need money, you can spare yourself a few hours chatting for cash. You can make up to $50 per hour from just chatting for fun.
The sites you will be signing up with are there to link you to people who may not receive the kind of love they require from the real world and are willing to pay for some company.
Some of them could be down with some mental or physical issues and just need a total stranger to confide in.
Thank God you are there! You need money desperately and can be paid that much just to keep the conversation going. I would accept a job like this.
- Get paid to be a house or pet sitter
Of course, houses are very important, and many people are willing to pay you well to house sit for them. However, you need to be an adult with a proven level of responsibility before you can be offered this job.
This kind of urgent paying job is prevalent, and there are many sites where you can find houses to housesit.
Pet sitting is also another easy thing to do. Though it will not get you rich immediately, it can calm that “I need money desperately” issue.
One of the sites where you can find house and pet sitting jobs is TrustedHousesitters which connects house and pet owners to individuals who can take care of their homes with pets in exchange for money or a place to stay.
- Get free apps that pay
Some free apps claim to pay for a good reason. But even if those apps were legit, they will not pay you more than a few dollars.
However, you can sign up for apps that will pay you after playing games or shopping online.
Since there are no strict terms and conditions attached to these apps, you can just run to them if you need money desperately and get the extra income.
- Get a part-time job
If your regular job is not so demanding, you can take up a part-time job and make extra money from a few hours.
Even when your schedule is not so favorable, you can still squeeze yourself a little more to fulfill the “I need money desperately” quest.
These jobs do not need to be anything serious; neither do they have to be in your dream industry. You can just take up something in your neighborhood for a few hours a day and drop it off when you have regained your financial strength.
- Do odd jobs
When people say “I need money desperately“, I remember the numerous odd jobs around. You can do some of them off the records.
You can help people clean their yards, clean up the homes of old or busy people, paint, hang pictures, or do all manner of things for money.
Doing these odd jobs can help you turn in $100 easily in a day,
To get started, let people know that you are available to take up such jobs. You can do this by advertising on Facebook or your local community message boards. Also, you can drop letters to a few households or business premises stating what you can do and when you will be available to do it.
- Get paid to donate plasma
I know it sounds crazy, but I know it is not as crazy as donating an organ.
If you are so much in need of money and think you can do something like this for money, please do. Compared to donating an organ, plasma donation is legit.
Because this donation will be saving the life of a person in urgent need of plasma transfusion, donating some of your plasma can be a very fulfilling thing to do.
Though you may not earn much from donating plasma immediately, the money can quickly accumulate within a month.
You will earn from $20 to $50 per donation, but since you can donate twice a week, you can male up to $400 a month.
However, ensure that you are healthy enough to donate your plasma before doing so. And also, monitor the coupon to see how much free extra you can get.
- Get paid to lose weight
Though this option may not be the best if you need the money instantly, you can try this if you are one of those thinking “I need money desperately.”
There is an app called the HealthyWage app that encourages you to lose weight by giving you some cash-based challenges.
Besides getting the money, you will gain healthy body weight and save yourself more trips to the hospital and a decreased quality of life.
- Refinance your loan
There are many low-interest loan refinancing options available to help you save a few dollars. You can benefit from them if you were on a mortgage loan or student loan; you can take advantage of the available options.
However, some of these refinancing options require you have a specific range of credit scores.
Do the maths and find out if refinancing your loan can genuinely save you enough money; if it cannot, then there is no need to pile up more debts for yourself.
- Get a personal loan
This should be the last thing you consider, and this should only be done if the situation gets out of hand.
Getting a personal loan can help you if you need money desperately, but it might set you up for a financially tight future. So weigh the odds before taking the risk.
How can I get money, urgently?
The method you employ to solve your “I need money desperately” quest is first to know how much you need and the amount of time you have before getting the money.
If you need between $200 and $500 within a few weeks, you can employ some of the urgent paying job ideas I have listed here and be diligent in doing it.
However, if you are pressed with severe debt and have little or no time to raise money, you can think of selling off some of your properties, using your credit card, or even getting another loan.
But to have a financially free life, plan your life and budget for everything you do; this will keep you from being in desperate need of money constantly.
Some fast money sources you should avoid
Being in desperate need of money can make you prone to being scammed if you aren’t careful. Some may not even be a scam but they could be difficult traps that will only make your financial life more unbearable.
So, when you are desperately in need of money, do not try the following options:
- Payday loans: These short-term loans allow people with a source of income to borrow and pay an interest of $15 for every $100 borrowed. But sometimes, there are usually some other fees or means of repaying the loans that make it more challenging to settle the loan. If you do not pay up quickly, you may end up paying up to 400% interest on just a two-week loan you got.
- Auto title loans: Like the payday loan, the interest rates are almost the same, but this one needs you to place your car as collateral. If you fail to repay the loan, the lender can seize your vehicle.
- Payday installment loans: This loan allows you to stretch the payment duration for up to three years. This may sound like a good option at first until you realize that you will end up paying $16,000 for a three-year $2,000 loan at 400% APR.
- Credit building payday loans: though some lenders report on-time payment to the big-credit bureaus they are accountable to, some don’t, and when they fail to do this, your credit score will be affected. Some of these lenders charge rates that may be lesser than the payday loans but still very much higher than the traditional loans. Hence, they should only be considered when the traditional loans do not work out.
Financial stress is linked to many health conditions like hypertension, depression, anxiety, etc. That is why you need to find a simpler way of solving your financial issues.
Though I did not mention this above, remember to talk to a friend or family member when going through a financial trauma. And if it is a debt that is eating up your finances, consult a debt counselor.
Also, as much as you can, work hard (& smart) to give yourself and your family lasting financial freedom.
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