How to Get Cash Fast

We all know that the economy has been doing very poorly.  The problem with a down economy is that if affects everyone.  If you’re not making as much money and you’re tight on money, you’re not going out to spend money.  That means those people you would have given money to (when making purchases) are making less money and most likely many businesses will see a dramatic crunch.  A bad economy is a huge downfall that can leave people struggling now more than ever. 

Often when people are affected by a bad economy, they are tight on money, are looking for ways to make more money, and don’t have any emergency money to back themselves up.  When these problems occur, we need money fast.  Several people run into this situation every year and are looking for help.  How can you get money fast when you need it more than ever?  How can you get money so you can avoid foreclosure, pay for food on the table and the daily expenses?  There are a few different ways to get money fast.  Continue reading below to find out what those ways are.

  • Sell your investments - No one likes to sell their investments in a down economy, but if you have to to get by, do it.
  • Home equity - Home equity is an option for most people if they have a credit score of over 720, a steady income and more than 20% equity in their home.
  • Government aid - If you qualify, consider government aid.
  • Consider a margin loan - If you have investments that you don’t want to get rid of, you can borrow up to half the value of your taxable investment account. 
  • Borrow money from your 401k - Most workplaces will allow you to borrow up to half of your balance, but not over $50,000.
  • Sell your belongings - Do you have things around your house that are worth a large amount of money?  If so, get rid of them and collect the money!  Consider selling them on sites like eBay or Amazon.
  • Friends and family - If you HAVE to, consider borrowing from your friends and family.  Although, keep in mind that you should always pay back, even more since they were so generous and helpful.

Cash is always available if you need it fast.  There are several different ways to get it even though we hate to even think of this scenario or that being us one day.  It is important to always have emergency money, and to set aside as much money as you possibly can so that situations don’t end up like this or even worse.

Disclaimer:This content is not provided or commissioned by American Express. Opinions expressed here are author's alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.

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