Need Money Now? 8 Fast Cash Options When You’re Desperate
If need money now fast is on your radar, this short guide cuts through the noise. Here is what is worth knowing, and how to put it to work today.
Key Takeaways
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- When it rains, it pours.
When it rains, it pours. If your furnace goes out and you break your ankle and you back into a light pole with your car, rest assured that these will all happen in the same week. Sometimes, Murphy takes up residence in the spare bedroom, and you need immediate emergency cash.
While a fully stocked emergency fund is the ideal way to field these problems, the truth is that most of us aren’t there yet. Only 39% of Americans can write an unplanned check for $1,000. Furnace fixes, broken ankles, and car repairs frequently cost more than that.
With these disasters in mind, we’ve put together eight ideas you can leverage when you find yourself saying “I need money now.”
Note that we’ve ranked these in order of how simple it is to get the extra money, not how much cash they can produce.
Table of Contents
Toggle#1. Return Past Purchases
Numerous retailers have surprisingly generous return policies, frequently with lengthy timelines and sometimes with no strings attached. Nike gives you 60 days, Kohl’s gives you 180 days, and L.L. Bean gives you a full year to return previous purchases , even if you’ve used the items.
So if you find yourself in a pinch, you could potentially raise significant funds by returning stuff you already paid for.
What if you’ve lost your receipt?
You don’t always need a receipt to return an item. Numerous stores will let you return things with just an ID. You can also ask the store clerk to look up the purchase by scanning the debit or credit card you used to purchase the item. If your item was delivered, you can look up the shipping or confirmation email as proof of purchase as well.
We ranked returning past purchases as the number one option on this list because it’s fast, simple and painless. If you’re in an immediate cash crunch, it can be a surefire way to get money in your bank account today. Plus, it’s one option that most people overlook.
#2. Sell Something
If you don’t have items to return, you likely have items you can sell. You’re probably sitting on more valuable items than you realize. Old laptops, video games, sporting equipment and extra furniture (just to name a few categories) still have value and can be sold to get some quick cash.
The fastest way to do this is via Facebook Marketplace. Facebook takes no commission and you typically don’t have to ship the item, since your buyer is local (though shipping is also an option). Craigslist is a decent place to sell as well, but with so numerous other quick listing options, it’s not quite as popular as it once was.
If you live in a rural area or want to sell a specialty item, a broader, national marketplace like eBay, Mercari or Poshmark may be your best bet. You’ll have to pay for shipping (and probably commission), but you’ll reach the maximum possible number of people.
Selling used stuff will take more time than returning items, plus you’ll end up with at least a small loss. But you’re not limited to items purchased from stores with a liberal returns policy, and online marketplaces have a healthy demand for bigger ticket items.
Should you pawn your items?
Avoid pawn shops because they’ll give you a fraction of your item’s value. Pawn shops know you’re strapped for cash, and their entire business model is built around exploiting that fact. As a result, you’ll almost always get well below fair market value for your goods.
See also: Sites like Criagslist - the best places to sell your used items.
#3. Donate Blood Plasma
Donating whole blood won’t make you any money, but donating blood plasma can earn you a substantial amount relatively quickly.
Plasma is the liquid and proteins in blood. When you donate plasma, you’re hooked up to an IV (like typical blood donation). Your blood is spun in a centrifuge to extract the plasma, then the red and white blood cells and platelets are returned to your body.
Because you don’t lose your blood cells, you can donate plasma much more frequently than blood , and plasma donation centers incentivize you to do so. You can donate plasma twice a week, as long as there’s one day in between donations.
Compensation for one plasma donation is between $20 and $50 per session, but numerous donation centers offer bonuses for donating twice in one week or a certain number of times per month.
Can anyone donate blood plasma?
For safety reasons, there are some restrictions on who can donate plasma. To be eligible for donation, you must be in good health, between the ages of 18 and 65, and weigh more than 110 pounds.
You may not donate if you have a history of certain medical problems (such as HIV or cancer), have low iron or hemoglobin levels, are taking certain medications, or have traveled to certain areas of the world.
If you’re an established plasma donor, you’ll get paid the day you donate , typically on a prepaid debit card. Getting paid for your first donation may take some more time due to blood testing and administrative setup.
#4. Take Advantage of Government or Charitable Resources
Depending on where you live and what you need the money for, you may have access to either government or private programs that can help you stop a financial emergency from getting worse.
If you need to pay rent, your mortgage or utilities, numerous states and municipalities have eviction prevention programs or temporary assistance to help people pay their bills. If you live in the U.S. or Canada, the community services directory phone number is 211. A quick call will put you in touch with the community services in your area.
These are just a few examples of organizations that offer emergency assistance.Qualifying for government services can take some time, documentation and paperwork. Another (possibly quicker) alternative is to reach out to a local church or charity.
Numerous national and local-level charities ar
Final Thoughts
The bottom line: a little research on need money now fast goes a long way. Compare your options, watch for seasonal offers, and never pay full price when a better deal is one click away.
Originally published at thewaystowealth.com.
Jenni Sisson
Our editorial team researches and verifies every money-saving guide before publishing. Editorial policy · About us
