Payday Loans Near Me 550: The Google Strategy

1) Liquidate Your Assets

2.) Take on Odd Jobs

3.) Track Down Your Loose Change

4) Organise the Garage Sale

5) Take money from your Retirement Account

6.) Part With Your Plasma

7) Take money from friends or family

The Bottom Line

Wealth Lifestyle Advice

7 Effective Strategies to Increase Cash Quickly

How do you get cash when time is of the essence

Amy Bell Amy Bell

Updated December 03, 2021

Review by Khadija Khartit

Facts confirmed by Yarilet Perez

Whether you are facing an onslaught of unexpected medical expenses, or you’ve recently lost your job or your house was ravaged by a hurricane or other natural disaster there is one thing for sure: you have cash in your pocket, and you require it right now. In the event that the financial crisis hits daily life, the vast most of us get totally unprepared.

If you’re caught in this fix and you’re not alone, you’re not alone. Around six in 10 American households experience at least one financial crisis every year, and around one-third of American families do not have any savings whatsoever according to FEMA.1 A majority of Americans are struggling to pay for an unexpected emergency expense such as a $400 car repair as per a study from the U.S. Federal Reserve.2

If you’re in need of cash fast to cover an immediate cost, where should you turn? Here are seven smart ways to raise money quickly without causing irreparable damage to your finances.

The most important takeaways

Selling personal items such as clothes, electronics, or books–online may help you raise cash during an emergency.

Consider taking on an odd job, such as taking care of your dog, babysitting or even yard work, to help bring in extra money.

It is possible to consider borrowing or withdrawing funds from your retirement account. In the majority of times, it could mean having to pay taxes on the distribution and a 10 percentage penalty.3

If you take money from relatives or friends it is best to draw up an agreement on the terms that apply to the loan.

1) Liquidate Your Assets

Is the corner of your jewelry box contain the father’s Rolex or your mom’s engagement ring or a diamond pin that you rarely wear? What about the treasures tucked away in your closet? Perhaps a fancy wedding gown or your grandmother’s great-aunt’s fur coat.

One platform online that is willing to cash in on your clothing is thredUp. In the Help Center click on “The Clean out Process” to find out how selling works.4 Or, you can consider selling your clothes on eBay.

There is also the possibility to earn cash quickly by selling off newer models of electronics, like big-screen TVs smartphones, tablets, laptops, and game consoles, and media like DVDs, CDs, books, and games for sale on websites such as Decluttr, Gazelle, and uSell, and marketplace sites such as Swappa. You can also post them on Facebook Marketplace, Craigslist, and Twitter or run an ad in your local newspaper; or sell them to your family and friends.

The quality of the garments or electronics you’re willing to sell depending on the quality of your merchandise, you can easily bring hundreds of dollars or more in cash.

2.) Take on Odd Jobs

If you don’t have any high-value items to unload You can consider selling your services, especially in the event that you’re out of work and have time your hands. You can babysit and/or pet-sit for your friends or set up up a neighborhood dog-walking service. According to ZipRecruiter, the nationwide typical hourly wage for babysitters is $17 per hour, while pet sitting earns around $14 an hour.56 Dog walkers can typically earn around $15 per hour, according to PayScale.7

If you’re not interested in dealing with dogs or kids or children, you could provide a mower and wash cars for people in your neighborhood, or drive a neighbor’s elderly aunt to doctor’s appointments. If you’re a fan of driving, consider signing up to become driver for Lyft or Uber driver. According to Gridwise, rideshare drivers’ earnings in 2021 depend on where they reside and range from $14.65 each hour in San Antonio, Texas, to $19.44 in California’s Bay Area.8

You could also grocery shop for your busy family members or adults or offer to fix and decorate your sibling’s deteriorating fence. Depending on the amount of work you accept and how much you charge per task, you could scrape together some hundred dollars in one weekend. If you don’t have enough people who need to be worked on, sign up for jobs through websites such as TaskRabbit Thumbtack, tasks that require skills like Upwork, Freelancer, or Fiverr.

An emergency fund can provide the financial security needed in the event that unexpected expenses, such as medical bills or losing a job occur. Try to set aside money whenever you are able to establish one.

3.) Track Down Your Loose Change

At first, this advice may seem odd, but it’s actually an omen. According to a news report from Bloomberg, Americans throw away approximately $61.8 million worth of coins into the trash every year.9 That’s a lot of money that’s stuffed into sofa cushion cushions and piggy bank and old paint containers across the country.

Go around the house and collect all those hidden coins. After you have uncovered every last cent, haul the trove to the local credit union or bank. Some banks will count the change free of charge to their customers, although others may require you to count and roll the change by yourself.

In any case, once you’ve converted those coins into cash, you could be able to use towards the emergency expenses.

4) Create a Garage Sale

One man’s trash is another’s treasure, as the saying goes. While yard and garage sales are some effort but they can also bring in an impressive amount of money for sellers who are savvy. Be sure to promote your sale on Craigslist, Facebook (if you have a local group), your local newspaper (online as well as print) and church bulletins, and put neon signs with black lettering in key locations to attract the maximum amount of people possible.

5) Take money from your Retirement Account

For larger sums of money, the previous four steps may not suffice. It’s the time to review your 401(k). Most of the time, if you’re younger than 60 1/2, you’ll pay a 10% penalty to withdraw from your 401(k) money, however, there are occasions that it’s a good idea to do this.3

Additionally, there are some exceptions when the 10% penalty can be waived, for instance the case of medical expenses that exceed 7.5% of your modified adjusted gross income.10 You may also be able to take out a loan, instead of withdrawing, money in your 401(k) which is a more sensible option if you have the ability to manage it.11

If you don’t have an 401(k) however, you have an IRA that could be a source for funds particularly if it’s an Roth IRA. If you have the traditional IRA you have options less limiting, but even then there are certain situations in which you can withdraw retirement money at little cost to you.3

6) 6. With Your Plasma

Now we’re getting to the more extreme options. Plasma is an extremely valuable resource that is used in a variety of medical procedures and research. The process of donating plasma is similar to giving blood, according to Octapharma Plasma Inc., an organization that gathers plasma and uses it to create life-saving medicines for patients worldwide.1213

Once your blood is drawn and processed, it is circulated through equipment that separates plasma from the other parts of your blood. Your plasma is then collected in a container while the other parts are safely transferred to your blood through a process called plasmapheresis.

The reports vary on the amount you can earn and will be contingent on many variables. You can earn between 20 and $60 for each donation. Based on the Octapharma plasma website “Generally weight is a factor in how much your body, the more plasma you are able to collect and the longer to give it away. The amount that new and returning donors make reflect this. “12

7) Get Money from Friends or Family

This one was saved for last because it really should be used as a last alternative. Although borrowing money from friends and relatives may be an easy solution but it could also have some adverse consequences. When a loved one lends you some cash, it can put a strain on your relationship–especially if you don’t pay the person back quickly.

In a report in Psychology Today, unpaid loans can cause negative feelings between the lender and borrower.14 If you plan on borrowing money then it’s best to make a written contract that states the date you’ll begin to pay the lender back and whether you’ll also pay interest on the funds borrowed.

The Bottom Line

If you’re in a position of cash shortage when a financial emergency hits You’re not alone. The vast majority of Americans do not have enough money available to cover unexpected expenses. When you find yourself in this position, the worst thing you can do is increase the amount of credit card debt or get an payday loan, which will be a huge cost in terms of interest.

Fortunately, there are a variety of clever ways to raise money quickly without ruining your finances. You can decide to either sell some of your belongings or take on odd jobs, or borrow money from your parent or a friend, one thing is sure when you’re able to recover from this financial catastrophe, it’s time to begin building an emergency reserve.

Payday Loans Near Me 550: The Google Strategy

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Payday Loans Near Me 550: The Google Strategy

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