Emergencies happen. Bills are due, but you don’t have sufficient funds in your account to cover them all. Unfortunately, failing to make a payment could negatively impact your credit score and result in you owing more thanks to late and various other fees.
By JACOB YOSS
You can try calling your respective creditors or service providers to discuss your options. What if they’re not understanding, though? You need to know how to get money in your bank account, stat, or you might lose a necessity until you can pay up.
If you’ve overdrawn your account but want to avoid the dangers of payday loans, here are a few legitimate ways to get quick cash:
Use Financial Apps
Let’s say your internet bill is due during the second half of the month, but you don’t have the money to cover it because you need to prioritize rent, water, and other necessities. Even worse, your employer’s pay cycle delays when you receive your paycheck, so you probably won’t get paid for several more days. You can’t overdraw your account, but you also don’t want to find an internet café whenever you need to get online.
You could borrow money from a friend, but there’s an easier option: use an app. One great example is Earnin, a community-driven app that enables you to receive your money after you’ve earned it. It’s more than a quick money app because those funds are rightfully yours — you can get the $65 it will take to cover your internet bill, and Earnin deducts the amount from your paycheck after it comes in. It’s not your fault the pay cycle screwed you over, after all!
Sell Your Possessions
This option isn’t fun, but you might decide it’s necessary if you’re in a tight enough spot. Selling your stuff has no upfront costs, and you get to keep 100% of the profits if you do 100% of the work.
Host a yard sale or go to a pawn shop to see how much you can get for various items (preferably those you don’t need, such as clothes and unused electronics). You can also sell possessions on apps like Letgo, Decluttr, and Poshmark, which broaden the range of customers you have access to. Some of your items may also be rentable.
Perform Odd Jobs
If you don’t want to sell your stuff and have the time to squeeze it in, sell your labor and take up “gig” work. Common ideas include driving for rideshare services, delivering food, or house (and pet) sitting. One of the advantages of side-gig work is that you can do it on your own time, can choose what you participate in, and you can do it as often or as little as you’d like.
Apps like TaskRabbit connect users to a wide range of opportunities in their local areas. Maybe someone needs help mounting a TV, assembling a piece of furniture, or cleaning their kitchen. Whatever you’re willing and able to do, performing odd jobs is a convenient way to earn quick money.
Take Out a Credit Card Advance
Despite your current situation, is your credit in decent shape? You might be able to take out a credit card cash advance. You’ll have to pay a fee and interest (unless you pay off the balance by its due date), so be careful about putting yourself in further debt unless you know your financial predicament will improve in the near future.
Request an Advance from Your Employer
On a related note, consider asking your employer for an advance on your paycheck. You will receive your salary or wages early if your employer agrees and will pay it back through payroll deduction over the next pay period. The worst your employer can do is say “no,” so it never hurts to ask.
Apply for a Loan
If you need a substantial amount of money that none of the options above will cover, then you may consider applying for a personal loan. Some lenders allow you to borrow within a day, but you’ll need good credit unless you want to be stuck with a staggeringly high interest rate.
You can use a personal loan for something clever, though: consolidating debt. Between medical bills, utilities, rent or mortgage payments, student loans, and everything else, those are lots of obligations to keep track of and associated fees to pay. This piece of advice isn’t so much to get you quick money as it is to save you future headaches, but you can roll your debts into one and make a single, consistent monthly payment.
It’s understandable if you find yourself facing difficult financial choices. You have more options than you may know, though, so consider your time, assets, debts, and other factors when you need cash quickly.
This article originally appeared on Earnin.