Need Cash Fast? Here Are 7 Options

Many of us have been there. You glance at the calendar, and notice that your electric bill is due in a few days. So you log into your banking app, and find out you’re tapped until your next payday. What now? 

If you need cash sooner rather than later, you could take a few routes to get there—but not all of your options are good ones. Let’s consider a few better ways to get money in a hurry, a few you should skip, and what you can do if living paycheck to paycheck is getting old. 

5 Better Options if You Need Cash Fast

Try these first if you need money and are coming up empty. 

1. Cash advance apps

These mobile apps offer a small, short-term advance on your paycheck, often with low or no mandatory fees. If you’re not in dire straits at this exact moment, it’s worth exploring your options for cash advance apps in case you end up in a pinch in the future. 

A few providers include EarnIn, Brigit, and Chime, which also offers early access to direct deposited paychecks. 

Since you’ll generally need to set up an account for one of these apps ahead of time, it might not be an option if you need money immediately. The app will take a little time to verify that you’re earning a paycheck on a regular schedule to be able to repay a cash advance on a future payday. 

2. Side hustle with a fast turnaround

A lot of side hustles, like retail work, mean waiting a few weeks for your first paycheck. In the gig economy, the turnaround between working and getting paid could be a lot faster. Background checks for app-based work could take as little as a few days. 

If you’ve got a vehicle, you might want to look into grocery or restaurant delivery. The sign-up process for Instacart or DoorDash is pretty quick and easy, and if you’re approved to work right away, you could get paid the same day you make deliveries. 

3. Return a recent purchase

If you’ve just bought clothes or electronics and haven’t yet taken off the tags (or tossed out the box), can you return the item? Once you’ve paid the bill that’s due or addressed your financial emergency, you could repurchase the item you returned to the store if it turns out to be a necessary purchase. 

Some stores have a no-questions-asked return policy and even take back items after they’ve been used. Others require the purchase to be in unused condition and accompanied by a receipt. 

4. Sell something

Maybe you’ve got a collection of in-demand accessories, like purses or shoes. If it’s feasible to list a few on Craigslist or Facebook Marketplace, you might have buyers interested and able to pay you cash today or tomorrow for your items. Similarly, if you’ve got gold jewelry you haven’t worn in years, a trip to your local pawn shop might be in order to get some cash fast. 

If you have unused gift cards, online outlets such as CardCash may buy them. You won’t get the full face value on the card, and it could take a few days to receive the money, but it could still be a good option. 

You might consider donating plasma for cash. Not everyone is eligible, and it’s a bit of a time commitment on the day you donate, but if you can do it, it could mean walking out with money that same day. Also, your plasma is used to help other people, which can be a good feeling. 

5. Ask a friend or family member for help

Awkward conversations are no fun—we get it. Sometimes it’s worth toughing it out and asking a trusted friend or family member to float you a little cash to cover the surprise vet bill or car repair. Everyone gets into a tight spot from time to time, and part of caring about someone is helping when you can. 

Write out the particulars of the loan and agree to repay the kind person who’s helping you. Be sure to include the date, how much you borrowed, and the specifics for repaying the loan. For example, you borrowed $500 on March 3, and you can Venmo your friend $50 a week over 10 weeks to repay the loan.

2 Options Best Avoided

Yes, you could get cash fast when you need it if you pursue these—but you might regret it. 

1. Payday loan

Payday loans aren’t legal in every state, and even if you can get one in your area, it’s very expensive to borrow from a predatory lender. Here are the drawbacks to a payday loan:

• You’ll walk out with cash, but you might be charged $15 in interest on every $100 you borrow—which translates to a nearly 400% APR. For comparison, the average APR on a credit card is around 20%. 

• If you can’t repay your loan when it’s due, you might have to roll it over, incurring more fees in the process. 

• A payday loan is often a short trip to a debt spiral that’s hard to get out of.

2. Credit card cash advance

A cash advance against your credit card is a slightly better choice than a payday loan, but it still pales in comparison to our five better options above. Here are the drawbacks of a credit card cash advance:

• Cash advances typically carry a higher APR than purchases made using your credit card.

• You won’t get a grace period—you’ll be charged interest on the money you take out immediately. 

• You probably won’t be able to borrow up to your credit limit, so you may not be able to get as much cash as you need if the card has a lower limit. 

Struggling With Debt? You Have Another Choice

Living paycheck to paycheck exhausting. If you can put aside even a little bit of cash for emergency savings every time you get paid, you could build some savings to turn to when you come up short on bill money. Even saving $25 or $50 a month can help your finances. Make saving a must-pay bill in your budget if you have trouble prioritizing it. 

If you struggle with debt payments and have trouble even making your minimum payments, it could be worth exploring debt relief options. A professional debt settlement company like Freedom Debt Relief could help you make a plan to tackle your debt and get on a firmer financial footing.