Three Ways to Get Fast Cash if You’re in a Bind

If you suddenly hit upon hard times and need some extra cash, how can you go about getting it? If your car breaks down and you need to fix it, or if you have a medical emergency not covered by insurance, or if any number of other things pop up, you might find yourself in a situation where you just need some fast cash, right now.

Here are three different ways you can raise this money.

Method #1 – Credit Cards

The fastest and most simple way to raise quick cash is to use your existing credit cards.

Do you have credit card accounts that you haven’t used for some time? You could always go back to using those cards.

If you pay back your credit cards within the month, the entire loan is essentially free.

Of course, credit cards aren’t a valid option for a lot of people. If this doesn’t work for you, here are two other ways you can raise the cash.

Method #2 – Take Out a Loan on Existing Assets

Do you have a car that’s already paid off? You can take a loan out on that car. Do you have gold or silver sitting around? You can use that gold or silver as collateral to take out a loan.

If you have a home that has positive equity, you can take out a Home Equity Line of Credit (HELOC.)

In other words, you can turn other things you have to your name into cash fairly quickly by using them as collateral for loans.

If you’re really in a cash pinch and don’t have anything that can be used as collateral, you can always try taking your items to a pawn shop or selling them on eBay.

But what if you really don’t have anything to sell or borrow with? You still have one great fast cash option.

Method #3 – Payday Loans

Payday loans are a great way to get fast cash. You can generally expect to pay around 11% to 15% interest to borrow money for one month.

In other words, if you’re borrowing $500, expect to pay back $555 to $575 at the end of the month.

If the price is worth it to you, it’s one of the easiest ways to get your hands on some fast cash. Provided you have a steady job, all you need to do is fill out a simple form and within hours the money will be wired into your checking account.

These are three completely different ways to raise some fast cash when you’re in a bind. If truly necessary, you can even use all three tactics to raise some serious cash.