Everyone finds themselves a little short on cash every once in a while. Fortunately, if you have an upcoming expense that you need some extra money to cover — whether it's rent or your credit card bill — there are plenty of ways to bridge that shortfall as quickly as today. Try these easy ways to get cash fast when you need money now.
1. Get a cash advance
Cash advances are short-term, small dollar loans that let you borrow money with the expectation that you'll pay it back when you receive your next paycheck. They often have term lengths of about two weeks to four weeks.
To get a cash advance, the lender may ask you to write a check for the amount you need or permit them to draw from your bank account electronically. When the due date comes, they can cash the check or deduct the funds from your account to cover the loan.
2. Get a title loan
Title loans are secured loans that let you use your car's title as collateral. After you fill out an application, the lender will appraise your vehicle and offer you an amount based on how much your car is worth. Many lenders will give you a loan amount worth 25 to 50% of your car's value.
Title loans often have quick application and decision processes, so you may get the funds the same day you apply or within 24 hours. You can keep driving your car as you repay the loan.
3. Pawn or sell an item
Have an item of value like artwork or jewelry? A pawn shop may give you a loan in exchange for using your item as collateral. After the pawnbroker determines your item's value, they'll make you an offer. You'll then have to pay the loan back within 30 days or another set time period. Just remember that if you're unable to pay back the pawn shop loan for any reason, you could lose your item.
4. Ask your employer for a paycheck advance or loan
Your employer may offer you an advance on your paycheck, which is effectively getting your paycheck early. These often don't come with any fees, and you may repay them by taking deductions from future paychecks.
Additionally, some companies set aside loan funds for employees who need a low-cost emergency loan. In either case, your employer might be able to offer you cash fast.
The bottom line
As you can see, there are various options for borrowing or earning some quick cash. Try one or several of these methods the next time you're in a financial pinch and need some extra money right away.
Notice: Information provided in this article is for information purposes only. Consult your financial advisor about your financial circumstances.
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Original Source: 4 Easy Ways to Get Cash When You Need It Now
