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What do you do when you need cash fast? Your credit cards are maxed out, your paycheck is too low, and you don’t want to ask your parents (again).
As I’m sure you can tell, I have experience in this arena. #shameless.
1. Stop Spending Money Immediately
The first thing to do when you need money fast is to stop spending money immediately. Hopefully you have an emergency fund or emergency credit card to draw on, but if not you’re just going to have to pay the consequences which include item #2
2. Sell Something on Facebook Marketplace. Now.
- Washer & dryer
Whatever you have that you know will sell it has to go. You have to get back in the black immediately. It’s all stuff and you can get it back, but right now being in the black is more important than getting to watch the next episode of ‘Orange is the New Black.’
This could be uncomfortable for some because you may be thinking you can’t live without your TV. Well, if that’s the case I guess you’re just going to have to find something else to sell… or die. Just kidding.
Sell that TV or Laptop if you’re not using it. If the items aren’t making you money or giving you a place to sleep, it’s not something you need to survive. Take a risk. You can always get something back later, but right now… this is the price you’ll have to pay.
Consider it a gift you have for someone else. They may really need it.
3. Offer to Help Someone As Soon As Possible
People need lots of help. That’s why jobs exist in the first place. You can:
- Mow Lawns
- Dog Walk
- Drive Uber
- Bar Tend
There are so many needs in the world and you are capable of doing so many different things beyond your degree, title, and position in life.
Which need could you fill for someone in exchange for $20 today?
4. Take a Temp Job Now.
A lot of people are reluctant to accept temp jobs. What’s the worst that can happen? You try the job, get paid, and if you don’t like it you try another job.
That’s actually kind of perfect.
Like I said in #3 – people have so many needs and that’s how jobs are created.
Taking a temp job can be beneficial for you and the employer so you can both find out if it’s a mutual, profitable match. If you need money fast, try grabbing an entry-level temp job in something you’re interested in. Many staffing agencies can help you find these.
5. Budget & ‘Cash Diet’ To Prevent This Next Time
Finally, let’s not let this happen again. Sit down and map out a budget- a real one. One that accounts for all the credit cards, student loans, rent and utilities, and unnecessary spending.
I’m just as reluctant to do this as anyone, but it’s the only way to prevent this from happening again and to avoid having to ask your parents for money (again).
I’m using Mint.com to get my budgets going. There are other similar services available or you can make own. The main idea is that it should be something you can keep up with. I like mint because it tracks things automatically for me and gives me heads up on interest rate changes, or out of budget spending when I normally would just ignore all that and go on with what I originally wanted to do.
A cash diet is a good way to prevent spending. You can put your credit cards away in a safe place and pull out just enough cash to use for the day or week. When the cash is gone- that’s it for that day or week.
If you didn’t have enough for gas- you aren’t going anywhere. If you don’t have enough to do laundry- you’ll be wearing some dirty clothes.
You Got This!
These are 5 ways you can get cash fast without having to ask your parents (again). Budgeting and cash diets will help prevent this from happening again. The consequences will help teach you to better manage your money. Keep going. It’s not the end of the world.
Good luck all.
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How do you get cash fast?
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