How to come up with money fast

By Matt Mayerle
Modified on May 23, 2023
how to come up with money fast

Do you need money immediately? Instead of stressing about how to come up with money fast, relax and rest assured there are plenty of options available. Between loans and side gigs you can do from home, there is no reason why you shouldn’t be able to get some extra cash when you need it. If you are looking for the best ways to come up with money fast, you’ve come to the right place. Here, you will learn more about potential loans and other income suggestions to help you reach your financial goals. 

Perhaps you’ve found yourself in the middle of a financial emergency and need fast cash. Some reasons why you may need an emergency loan may be: 

  • Unpaid medical bills 
  • Credit card debt 
  • Car repairs
  • Deposit for auto loans 
  • Home improvement projects 
  • Setting up an individual retirement account 

More Income vs. Loans

Consider the pros and cons before diving into fast cash options like an instant cash loan or getting a part-time job. While having a second job can be a great way to earn extra income, it’s important to understand what is considered taxable income. If you earn a significant amount of money from a second job, your income may increase enough to put you in another tax bracket. The higher the tax bracket you are in, the more money you may end up paying to the Internal Revenue Service or IRS.

On the other hand, loans won’t cause you to move from your current tax bracket. However, depending on the financial product you decide to go with, you may find yourself in a better or worse position from where you started.

Loans To Get Quick Money Online

Below are a few financial products you may find helpful when you need to borrow money. 

Payday Loans 

One of the most popular quick cash options is a payday loan. However, for your own financial protection, make sure you read the fine print before you sign onto this type of funding. Most payday lenders, also known as payday loan organizations, expect full repayment of the borrower’s loan balance within about fourteen days or less. Borrowers who fail to pay back their payday loan within this period are usually stuck with astronomically high-interest rates. 

Installment Loans

If you are looking for a more reliable funding option to get cash fast, consider an installment loan. Installment loans are a type of personal loan that come in both high and low loan amounts. 

Installment loans can cover a wide variety of financial needs, whether you need a few hundred bucks to get through some unexpected bills or a few thousand dollars to cover a larger expense. Furthermore, most installment loans do not require the borrower to put up any kind of collateral. 

Car Title Loans 

Another option for borrower money is via a car title loan. A title loan is a secured loan that uses the borrower’s vehicle as collateral. Before committing to a title loan, keep in mind that your lender will have the right to repossess your vehicle if you default. 

Credit Card Cash Advance

If you don’t want to borrow money via a loan, you may consider short-term cash advances using your credit card. With a credit card cash advance, you can borrow money against your credit limit and get cash instantly without having to apply for a loan. Just make sure you are able to pay off your entire balance each month to avoid accumulating credit card debt. 

Traditional Bank Loans

If you have a good credit score, you may be able to get a quick cash loan with a local bank. Since banks are traditional mainstream lenders, they usually don’t accept applicants with a bad credit score or a shaky financial history. 

Loans From Federally Chartered Credit Unions 

Credit unions may also be able to offer you extra cash online. A credit union is a unique type of financial institution owned by a niche group of borrowers. Since the owners of credit unions aren’t seeking a profit, they often offer special perks and benefits designed for borrower convenience. A potential downside to credit unions, however, is that they may restrict lending to only certain individuals living within a specific area or who meet strict credit criteria. 

Ways To Make Money for Your Bank Account

There are also ways to make money that don’t involve taking out a loan or reorganizing your finances. You can get a temporary part-time job or even set your own hours and go into business for yourself.

Check out these awesome money-making ideas that can help you raise money fast! 

Be a Personal Assistant

There are many busy men and women in business looking for a virtual assistant to help them with various tasks. Some people need help running errands like going to the grocery store or picking up clothes from the dry cleaners. Others need help with their business and may want you to handle their social media accounts or answer emails. Some may even need assistance doing odd jobs around their house, like emptying the dishwasher or straightening up. 

To be a personal assistant, consider your personal network and who in your industry may need assistance. You can also post your skillset and abilities online and wait for inquiries to come to you. 

Sell Unwanted Items 

If you don’t want to go about making money through work, you may consider selling unwanted clothes or items you have around the house for some decent money. Selling items that you don’t have a practical or sentimental attachment to can be a great way to earn some extra money quickly. You can host a garage sale and sell to your friends and neighbors or post about your items online and sell to whoever wants to purchase them. 

Go through your home and consider what you regularly use and don’t use. There are probably outfits you haven’t worn in years, appliances you have either replaced or no longer use, or even unused gift cards you don’t plan on using. You can make good money just by getting rid of clutter around your home!  

Try Dog Walking

Being a dog walker just a few days a week is another way to earn quick cash. With many people going back to the office, the need for daytime animal care is rising. Many people are looking for someone to walk their dog anywhere between a few blocks and a few miles. Typically, smaller dogs only need a short walk, while larger dogs require longer walks. If you are looking to be healthier, you can walk larger dogs a few miles every day and earn money while working on your physical health! 

Get Involved in Real Estate 

If you have a spare room in your house, you may consider renting it out to earn some additional income. Or, if the idea of someone living in your house doesn’t sound appealing, you can invest in real estate and post about your property on rental sites like Airbnb or VRBO. While investing in a rental property requires a bit of labor and money upfront, you should be able to enjoy a steady stream of passive income after a while. It’s like free money! 

Take Online Surveys 

An easy way to earn some money fast is to take online surveys in your spare time. Before products go onto the market, many companies perform in-depth research to ensure their products will be well received by consumers. Therefore, online forums and research companies are willing to pay you for your opinions and feedback on their potential products. Some surveys are quick five-minute questionnaires, while others are lengthy and may take more of your time. Usually, longer surveys offer more money than shorter ones. 

Start a Photography Business

You can also take a beloved hobby and turn it into a lucrative business. If you own a camera, you may think about starting a photography business. You can cover events like weddings and birthday parties or capture your own images and sell photos online. 

Eat at Home

You can save a significant amount of money simply by cutting down on how often you eat out. Think about how often you spend on takeout and other items related to dining out each week. For example, with the high fees delivery services charge, a single meal for one can cost anywhere between $20-$40! With that amount of money, you could purchase ingredients to make multiple meals that will last you throughout the week instead of just one night. 

Review Your Subscription Services 

Deleting or consolidating your subscription services can be the perfect way to save money so you don’t have to take out a loan. Think about your subscription services and ask yourself if you truly use all of them. Chances are, you can unsubscribe from a few services or at least get rid of a couple of add-ons. Or, if you don’t want to cancel any of your subscriptions, consider downgrading to a cheaper access level. If you talk to your service provider and change your subscriptions to include advertisements, you could potentially save hundreds of dollars a year!

Keep Your Finances Organized 

Knowing how to organize your finances is an essential part of saving money. People without a set budget often end up overspending on impulse purchases or other items they don’t need. Saving a few bucks here and there can really start to add up over time. Start creating a budget and keeping your finances organized now, and thank yourself later!

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