There are days when you can quickly meet money demands, but there are other days when you look at the bills piling up and mutter with intensity, “I need money now!”
This is the time when people turn to all and sundry just to get their needs met. Also, during this time, most people mess up their credit scores and wake up in continuous financial troubles.
People who manage to have a good credit score even after being in a financial crisis find it very easy to recover when things get back to normal. For this reason, it is wiser to sell stuff you do not need than to take payday loans.
Here are some ways to find quick cash when you need money now.
What to do when you need money now
The following are ways you can get quick money immediately.
- Sell stuff you don’t need on Craigslist, eBay, or others
When you need money now, the first thing you should consider is looking around your house for items you no longer need.
You may never lack items to sell; just look around. There are always things you keep for a good day when you will need it, but the truth is, that day never comes.
So, since we are always trying to declutter our house, you can take the chance to make money.
- Run errands on Taskrabbit
When you need money now, you should consider running errands on Taskrabbit. Taskrabbit has saved many lives in the day of financial trouble by providing just the exact amount they need from running an errand.
You can sign up on Taskrabbit and start going grocery shopping for busy business people or the elderly.
You can clean homes, escort a patient to a hospital for surgery and back, and do all other available tasks.
However, this site needs a non-refundable registration fee of $25. You may want to create a unique profile to make it on this site.
This profile should tell the world about your skills, reliability, and experiences with the task.
After that, you receive an invitation to create a mini-blurb selling your services, and then you will block out your available windows and the app. This will help you to be matched with tasks that fit your availability and skills quickly.
- Drive for Lyft or Uber
They do not require specific workdays or hours from you, so you can choose to work any day you want to, even if it is only on weekends.
You can also enjoy the added benefit of uber, which includes meeting new people and a flexible corporate structure.
- Do odd jobs
Odd jobs have been saving the day for a long time now. So if you are desperately in need of money to put food on your table, taking an odd job is a good option.
Odd jobs range from pet-sitting, clearing people’s lawns, cleaning their backyards, going grocery errands, cleaning homes, washing cars, etc.
These jobs are always readily available in neighborhoods, so you can take them up whenever you want.
- Take surveys
Also, you can try the highest-paying survey sites like Respondents. This site gives you more than surveys and pays higher than other smaller survey sites. However, they prefer to work with experts and professionals.
- Do childcare
A childcare job includes being a babysitter or child care provider. Since the cost of taking kids to daycare is high, most parents prefer to go for babysitters.
- Give out a part of your house on Airbnb
Except you live in a smaller apartment, they are parts of your home that you do not use daily. If you have this extra space, you can convert it into an additional income avenue.
It is better to rent out your room on Airbnb than sharing it with a roommate. The pay is better.
I know that it is strange just to allow a total stranger into your home. But the truth is, there have been a very minimal number of incidents occurring through this platform.
Before Airbnb sends anyone to your house, they will do checks and balances to ensure that you are protected and that the guest is also protected.
Airbnb asks guests to give a copy of the identification documents before being assigned a place.
However, before you start this pursuit, you need to check the laws in your area and be sure that they suit Airbnb guidelines and regulations.
After this, the next step will be putting out a well-optimized listing. One of the things to consider is adding a lot of information about your neighborhood. Things like the transportation, the distance between the major tourist centers to your place, and even the quality of food they will get there.
This is very important because the visitors coming into your home may be new and know little or nothing about your neighborhood.
- Use a payment plan to negotiate your bills
If you are running late for a payment plan with a subscription-based service, you can negotiate your bill payment with them.
The truth is, many subscription-based services understand that people can have hard times, and so they are considerate. Most of them have alternative payment methods that they do not tell the general public.
Most businesses know that it is better to keep a subscriber than just letting them go because they failed to make a payment.
So, if you are struggling with your bill, speak to the company’s representative and tell them about your situation.
Be genuine about your commitment and desire to pay the dues, and they will do everything in their power to help you get a proper payment arrangement.
- Apply for unemployment
If you have been laid off from work, you should consider applying for unemployment. However, you will have to hold on for a bit.
According to the federal stimulus bill called CARES Act, laid-off workers will get an extra income of $600 a week in addition to whatever the state-level unemployment benefits offers.
Some Americans get up to double that amount, which can be a good way to pay up an urgent debt. However, if you are not in urgent need of this morning, save it or invest.
You should, however, look out for a scam; the government will not ask you to give out your social security number to be given a check.
- Get paid to shop for groceries
Food is an essential need, and so everybody buys it, but you can use a rebate app to make money from grocery shopping.
One of these apps is Ibotta. To make money on this platform, you just need to shop for food and when you are done, use your smartphone to take a picture of your receipt. Upload this receipt to the app to earn.
You can get a rebate from purchasing essential items like bread, eggs, meats, etc.
Sign up for this platform and get a $10 bonus after completing your first purchase. Yes, Ibotta is legit.
- Vindale Research
Do you remember Vindale Research? This survey site has been online for many years.
This company pays anywhere from $1 to $5 for every survey you take, and if you go into more detailed surveys can you earn higher.
If you are highly knowledgeable, you can also make more money from product evaluations. However, product evaluations are more time-consuming than others.
For this kind of work, you’ll be given a product or service on which you will write an honest review. Product evaluations pay from $5 to $75.
Do you urgently need money now?
If the steps listed above cannot give you as much money as you need, try the following.
- Borrow money from friends
What are friends for, but inconveniences like this? When you are in a tight corner, and you really need money now, call your friends or family.
I know it can be pretty uncomfortable to talk to your friends about a temporary loan, but it is better than taking a loan from the bank or other corporate bodies.
If they are very concerned about paying back, you can facilitate a loan from them through Apple pay, Venmo, or Cash app. These apps will set up a repayment plan for you and create a digital history of your loan.
- Go for a 0% APR credit
They are credit card companies that offer 0% APR (Annual Percentage Rate) for about one year after a new purchase.
So, it can be sensible to talk to any existing credit card company and find out how they can help you get through the financial difficulty.
A one-year 0% APR is long enough to get over the difficulties.
- Ask for overtime at work
If you have a good job that will pay you well for overtime, there is no need to spend so much time thinking of other opportunities to make extra money.
Go for the good-paying extra shifts, and earn money quickly.
Also, you will benefit from the extra goodies of working overtime for your company which includes the no additional cost incurred from going to and from work.
Also, you will not need to go for extra job training before taking up the job since it is something you do every day.
If you are yet to explore this opportunity, talk to your employer.
- Take a loan you can quickly return
If the amount of money you need is more than what the above options can offer, then you may consider taking out a loan, one you are sure you’ll be able to pay back.
Like I mentioned earlier, the loan should be the last option on your mind, as failing to pay on time can hurt your credit score.
Your bank may offer you a loan that is higher than what you need. For instance, they may give you a loan of $10,000 when all you truly need is $1,000. Do not fall for the temptation because you will have to pay all of it back and with interest.
So, before getting a loan, write out your expectations and carefully review all the loan terms before going in.
Ensure that you have a solid payment plan featured in your budget, and also plan to pay it off as soon as possible. Even minor debt can become very difficult to pay back if you do not have a well-laid out plan.
- Sell your stocks
Do you hold any stocks or mutual funds outside your retirement account? If you do and are willing to sell to remedy your financial situation, you can go on for it. It is a good way to find quick cash.
However, there is a downside to this.
If the time you want to sell your stuff is in a down market, you could be selling it for a lesser amount than it is worth. So, think carefully about your choice.
- Withdraw from your retirement account
The 2.2 trillion dollar stimulus bill still allows holders to take out up to $100,000 from their retirement accounts and return it within 3 years without penalties or other tax consequences.
However, be sure that you will be able to handle the paperwork before taking it out and pay back what you withdraw within the time frame.
- Refinance your student loan
There are about 44.7 million Americans owning student loans. If you are among them, consider refinancing your loan.
To refinance a loan means to get another loan to pay the existing one.
However, only go for this idea if the new loan you are getting is at a lower interest rate.
This will be very beneficial to you because it will consolidate your monthly student loan payments and save you more money.
- Temporarily halt your student loan or mortgage
The 2.2 trillion dollar stimulus bill still makes it possible to hold your federal bank loans payment for about six months without accruing interest.
If you do not have enough cash to pay back right now, consider halting the payment.
Give yourself a six months break, and when you are ready to go, pick up from where you stopped.
Also, if your student loan was from a private lender, you want to communicate with them and talk about your financial situation.
There is no certainty that they will allow you to pause the loan payment, but they can give you a better repayment option.
If the interest rate for your mortgage is higher than 5%, you may want to refinance it. Refinancing this loan will significantly lower your mortgage payments.
When you say I need money now, the answer depends on the exact amount you need.
If it’s something lower, within $100 to $200, you can easily make it in a day by driving for Uber or Lyft, doing other tasks on Taskrabbit, or the different options mentioned earlier.
However, if your financial needs go up to about $500 to $1000 or more, you may want to consider the loan options available to you.
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