Ways to Get Cash Fast in an Emergency (2024)

By Maureen Rayburn • October 22, 2021

No matter how carefully you plan, unexpected expenses can pop up at any time. Without enough income or saving, you might be scrambling to figure out how to get money fast. Don’t worry, we’ve got some ideas about where to get money in an emergency when you have financial setbacks.

1. Know your borrowing options

In a pinch, it’s good to know the options available to you. If you need money fast, you may want to consider an emergency loan. Emergency loans are personal loans that help pay for financial emergencies by getting you the money you need to handle whatever needs immediate attention and then repay over time. Upon approval of either a secured or unsecured loan, you can get the money needed to cover those unforeseen expenses.

If you’re OK at the moment, but fear that you’ll need cash fast in the future, consider a line of credit. With a line of credit, you draw upon your available balance as you need it and make payments based only on how much you’ve taken out, plus any interest that has accrued. If neither of these is right for your financial emergency situation (or financial life in general), you may want to take a closer look into a low-interest credit card and weigh the pros and cons.

2. Cash in on unwanted clutter

If it’s not bringing you joy (and it’s collecting dust), it might be time to sell it. One option is having a yard sale to get emergency money, but if you’re also short on time, that might not be the quickest option. Luckily, lots of online alternatives to yard sales can help you when you need to figure out how to get money fast. E-tailers like Poshmark and ThredUp are good places to sell clothing and accessories, while using apps like LetGo and Decluttr can help you turn books, electronics, games, tools, hobbies and the like into quick cash. You can also try selling items on CraigsList and Facebook Marketplace. They’ll help you reach people who live close to you – which means you can arrange to exchange the items for cash fast, and you won’t have to pack up and ship your items as you would if you sold them on sites like eBay.

While most people don’t feel like their unused jewelry is taking up space, selling jewelry for its gold content can be easy and quick. Do a web search for ”gold buyers near me,” and you’ll see a list of options for turning your unused jewelry into quick cash.

• A note about online scams: Unfortunately, online forums can attract their share of scammers who will try to take advantage of people who really need money fast. It is recommended to only accept cash for the full amount you both agree on. And when it comes time to make the actual sale, agree to meet in a public place, such as a public parking lot during daytime hours. Alternatively, they can pay you with PayPal or Venmo. Once the payment clears, you can leave the item on your front porch or another agreed-upon location.¹

3. Pick up odd jobs or ‘gig’ work

Whether you need to pick up part-time work for extra cash or you’re between jobs, you can probably find employers who are willing to work with your situation. Many are hiring same-day, offering you a quick way to get emergency money. Warehousing and shipping companies are hiring people to meet the historic volumes of products being ordered online. Grocery stores are hiring people to stock shelves and do off-hours cleaning to meet more stringent health guidelines.

If you have transferable skills related to your job, you may be able to find freelance work that can earn you the emergency funds you need. Both Uber and Lyft have adapted to the coronavirus crisis to offer meal delivery while most restaurants have resorted to take-out and delivery orders only. DoorDash and GrubHub are two very popular food-delivery services and are practically begging for drivers. InstaCart and store-specific grocery delivery services also may be great places to find at least temporary ways to make quick money.

4. Access your retirement account

Withdrawing early on a retirement account is not typically a good financial move, but it may be an option in an emergency situation. Historically, the federal government makes special concessions that allow early distribution from your retirement account, but watch out for fees and tax implications. Research your set of circ*mstances and the type of retirement account you have and consult with a financial advisor to be sure you’re making the best decision.

5. Borrow cash from your credit card

You may be able to get quick cash from your credit card by taking a cash advance, but keep in mind that this may set you back from your long-term financial goals. Ideally, if this is your only option, you’d use a card with a low outstanding balance. But in emergency situations, it’s a consideration you’ll have to weigh given your unique circ*mstances. Keep in mind that cash advances often involve transaction fees (a set amount or percentage of the advance), they usually carry higher interest rates and they’re added to your existing card balance, which increases future minimum payments. Lastly, you may not be able to take a cash advance big enough to cover the emergency expenses you’re trying to pay, but this move could be part of a short-term solution.

You’ll get through this

No single suggestion about how to get money fast is likely to solve all of your financial problems. Whatever choice you're considering, take a calm approach to what probably feels like a drastic situation and know you have options. Don’t worry — money emergencies are usually short term, so make sure you still have your eye on your long-term goals.

1. https://www.chicagotribune.com/suburbs/daily-southtown/ct-sta-social-media-sales-safety-st-0712-20170712-story.html

This article has been updated from its posting on October 29, 2019. Nicole DeMarco contributed to the original article.