Whether caused by illness or by sheer bad luck, a financial emergency can turn your whole world upside down. They can put your home at risk and stop you from being able to buy the things that make your life more comfortable. It can be a distressing time for you and your family, leaving you feeling out of control and uncertain of the future. In most cases the sooner you deal with these emergencies, the less damage and upset they can cause. But if you don’t have savings to fall back on, this can seem impossible. However, no matter how bleak your situation might be, there are ways you can make money quickly. Take a look at the following fast cash ideas to find out more.
Put your car up for sale
If you own two family cars, you probably favour or use one more than the other. If you’re desperate for some quick cash, selling your second car might be an option. You can visit car buying websites and enter your vehicle’s registration number for a valuation. Within a few minutes, you can find out how much money they will pay you for your vehicle. Some may require you to bring the car to them whereas others offer a collection services. You can organize this within a day or so and get the money in your account once the car is retrieved.
Another option is to sell your car on eBay. This could be a brilliant way of making money, particularly if your car is in good condition and relatively new. The only issue with this is that there is no guarantee you will sell the vehicle, and you may not get the price you want. You could also put signs on your car saying that it is for sale. This could pique the interest of your neighbors and they might want to buy it from you instead.
Cash in your gold
If you have a jewellery box full of gold jewellery you no longer wear, this could give you the money you need. Cash for gold companies can assess the value and condition of your jewellery and buy it from you. A necklace or watch you thought was useless could actually be worth a fortune. But why stop at your jewellery? Look around your home to see what other gold items you could sell, such as coins and candlestick. If they don’t serve a purpose, or you no longer like them, it’s better to sell them to generate the money you need.
Alternatively, you could take your gold and silver jewellery items to a local pawn shop. Again, they will assess the condition and give you cash for these items. You then have a timescale in which you need to repay the money with added interest. If you are unable to do so, they then keep your jewellery and sell it on. This is an excellent option if you need money but also want to reclaim your belongings in future.
Get a cash advance
While many people are put off applying for a cash advance, they could be a quick and easy solution to your problem. A cash advance is a short-term loan which you can apply for online or in a lender’s store. Unlike banks, their application process is fast and often doesn’t require you to have a fantastic credit score. You just have to provide evidence that you are employed and able to comply with their repayment terms. You will also need to produce contact and personal details. These applications can take a matter of minutes, and you could have the money in just a few hours. This is ideal if you need the money quickly to pay a mechanic or electrician for vital repair work.
Another benefit of having a cash advance is that there are no restrictions on what you can spend the money on. This makes this option versatile and suitable for any kind of financial emergency.
It is important to remember that this is a loan, and you will need to repay in a timely manner to avoid further costs. So this is only a viable option for those who know they will be able to make the repayments.
Ask your family for help
Money is something that many families can find difficult or inappropriate to discuss. But when you are in financial difficulties they should be your first port of call. It can be embarrassing asking your relatives for money, but you need to just swallow your pride. If your family is going to be greatly affected by this emergency, it’s unlikely your relatives will turn you away. Be honest and open about how much you need to deal with your situation and ask for their help. Even if they can only give you a small portion of the amount, it will be better than nothing. If you have multiple relatives offering to assist you, remember to keep track of how much you owe each one.
This informal arrangement is often better than taking out loans because they won’t incur interest. You can devise a plan and come to an agreement about how much you can back them back and when. You may find that they want you to repay them in other ways such as letting them use your car or teaching them a new skill. Some members of your family may not want repayment at all. Don’t take advantage of their kindness by not bothering to pay them back or going back on your agreement. That way you can show them your appreciation and avoid any tension.
These fast cash ideas could help you regain some stability and rebuild your financial confidence. This experience should have also opened your eyes to how important managing money can be. Once you’ve dealt with your emergency, visit your bank and open a savings account. You can also use this opportunity to seek advice on setting financial goals and how much you could save each month. So if you experience another unforeseen emergency, you won’t be put into this same position again.