Looking for easy ways to get cash now? I’ve been there… and today, I’m going to share my seven favorite strategies for getting cash in a hurry.
Start with sales.
Selling stuff is the easiest and fastest way to make money. If you need cash in your hands today, the easiest way to make it happen is to list spare electronics or other belongings on secondhand marketplaces like Facebook Marketplace, Craigslist and OfferUp.
Don’t bother with sites like Ebay, because that will take longer to set up and you’ll have to wait and ship the item. If you’re looking for easy ways to get cash now, stick with local sites like Facebook Marketplace to get the job done.
For tips on how to sell items quickly, visit our Quick & Easy Sales Guide.
Trade gift cards for cash.
Sites like Cardpool will give you instant cash for gift cards. The amount of cash you receive will usually be less than the full amount of the gift card. I believe Cardpool pays between 85% to 92% of the card’s value. Although you’re technically losing some of the balance, it can help you convert niche gift cards into cash that can be used anywhere.
Use a rewarded shopping app like Ibotta.
If you need cash, try a new rewarded shopping app! Many of our subscribers have made money on Ibotta. Just use the app when you’re doing your regular shopping, and you can earn cash back on your purchases.
This is especially helpful for new users who need to get cash now, because Ibotta offers a generous welcome bonus.
They also have “any receipt” deals that can give you cash back no matter what you’ve purchased. If you need money, I highly recommend shopping with Ibotta. You can even use this app to get cash back on your food stamps purchases!
Claim your unclaimed funds.
This one isn’t so instant but it is still very helpful. States are holding on to billions of dollars in unclaimed cash from utility deposits, lost rebate checks, insurance payouts, old bank balances, unused gift cards and more. Each state maintains its own database, but you can get started claiming your unclaimed funds at LowIncomeRelief.com/unclaimed-money.
Ask for forbearance.
If you need cash now and you don’t have enough to cover all of your expenses, you can contact the people you owe and ask for forbearance. It isn’t quite the same as putting cash in your pocket, but it can free up the money you already have. For example, when our vehicle broke down a few years ago, I was able to postpone our utility bills and our auto insurance for one month so that we could use the money to pay for the car repair.
Get a pawn shop loan.
Pawn shops are dangerous places, so use exceeding caution when you do this. These shops usually don’t expect you to actually repay the loan, so they make their money by paying you as little as possible and then selling the item for far more. While it’s an easy way to get cash now, it’s not often your most efficient option.
Use pawn shop loans with great caution. You should never pawn something that you aren’t willing to lose, so I would always recommend selling the item yourself first so that you can pocket more of the money. If you have to pawn something, it’s generally better to risk losing it to a pawn shop than risk destroying your credit with a payday loan.
If absolutely necessary, try payday loans.
Payday loan companies are notoriously predatory. However, if you absolutely need to have the money today and you can’t wait, and you can’t make anything else work… a payday loan can work in a pinch.
Payday loans are short-term loans that are supposed to be paid out of your next paycheck. However, that very rarely happens because most people can’t afford to repay them. According to the Consumer Federation of America, payday loans often have an Annual Percentage Rate of 400% or more. That’s insane and very difficult to repay… and if you can’t repay it, you’ll end up hurting your credit terribly and that can cause you more financial trouble down the line.
I do not recommend getting payday loans. I’ve done it in the past and it almost always ends in disaster… but again, it’s a reliable option if you need the cash today.