Eight Best Ways To Sell Payday Loans Near Me 550

01.03.2023 от rickydarvall9 Выкл

1) Liquidate Your Assets

2.) Take on Odd Jobs

3) Locate Your Loose Change

4) Organise the Garage Sale

5) Take money from your Retirement Accounts

6) 6. With Your Plasma

7) Take money from friends or family

The Bottom Line

Wealth Lifestyle Advice

7 Smart Ways to Raise Cash Quickly

How can you make money when time is of the essential

By Amy Bell

Updated December 03, 2021.

Review by Khadija Khartit

Fact verified by Yarilet Perez

Whether you are facing an avalanche of medical bills, you recently lost your job, or your home has been hit by a hurricane or other natural disaster, one thing is certain—you need cash, and you require it right now. When a financial emergency crashes into everyday life, the vast majority of us are caught completely unprepared.

If you’re stuck in this situation, you are not alone. Six out of ten American households have the dreaded financial emergency each year. About one-third of American households have no savings whatsoever as per FEMA.1 And almost 40% of Americans would have trouble paying for an unexpected emergency expense such as a $400 car repair in a report from FEMA.2 U.S. Federal Reserve.2

If you need quick cash to cover an urgent expense, where do you go? Here are seven effective ways to quickly raise funds without causing irreparable damage to your finances.

Important Takeaways

Selling your personal possessions, such as clothes books, electronics, or even electronics can help you raise money during an emergency.

Think about taking on a side job, such as taking care of your dog, babysitting or even yard work, to help bring in more money.

It is possible to consider borrowing or withdrawing money from your retirement account. In most instances, this could result in having to pay taxes on the distribution and a 10 percentage penalty.3

If you borrow money from relatives or friends, it’s best to draw up an agreement detailing the terms for the loan.

1) Liquidate Your Assets

Does the corner of your jewelry box contain the dad’s Rolex, the engagement ring of your mom, or a diamond pin you rarely wear? What about the treasures tucked away in your closet? Maybe a fanciest wedding gown or your grandmother’s the fur coat of your great aunt.

One online platform ready and willing to buy cash for your clothes is thredUp. Within the Help Center click on «The Clean out Process» to find out how selling works.4 You can also sell your clothes on eBay.

You also may be able to make fast cash by selling off the latest models of electronic devices such as big-screen TVs tablets, phones laptops, gaming consoles, as well as media like CDs, DVDs, books, and games and on websites like Decluttr, Gazelle, and uSell, and marketplace sites such as Swappa. You can also consider posting them on Facebook Marketplace, Craigslist, and Twitter and run an advertisement in the local paper; or sell them to family and friends.

The quality of the clothing as well as the electronics and media you’re willing to offer for sale You could easily take in hundreds—or more—in much-needed cash.

2) Take on Odd Jobs

If you don’t own any expensive items that you can sell Try selling your services rather, particularly if you are out of work and have time on your hands. You might babysit and/or pet-sit for friends or start up a neighborhood dog-walking service. According to ZipRecruiter the national average hourly wage for a babysitter is $17 an hour. Pet sitting earns an average of $14 per hour.56 Dog walkers usually make around $15 an hour, as per PayScale.7

If you’re not interested in taking care of dogs or children, you might provide a mower and wash cars for people in your neighborhood, or transport an elderly neighbor’s aunt to her doctors’ appointments. If you’re a fan of driving, consider signing up to be a Lyft or Uber driver. According to Gridwise the riders will earn around $20k in 2021, based on where they reside however, they can earn anywhere between $14.65 per hour in San Antonio, Texas, up to $19.44 in California’s Bay Area.8

You could also grocery shop for busy friends or older adults or offer to fix and paint your sister’s old fence. Depending on the amount of work you’re able to take on and the much you cost for each job, you could scrape together some hundred dollars in just one weekend. If you’re not able to find enough customers who require work done, try signing up on websites like TaskRabbit Thumbtack, tasks that require skills like Upwork, Freelancer, or Fiverr.

A savings account can be the financial security needed with unexpected costs, such as medical bills, or losing a job happen. Set aside funds as soon as you can start one.

3.) Locate Your Loose Change

At first glance, this advice may seem odd, but it’s actually an untruth. According to a 2016 report by Bloomberg, Americans throw away around $61.8 million worth of coins in the garbage each year.9 This is a significant amount of money stuffed in couch pillows, piggy banks, and old paint containers all over the country.

Hunt around the house to find all the hidden coins. When you’ve uncovered every last cent, haul the trove to your local bank or credit union. Some banks will accept the change free of charge to their customers, while others may require you to count and roll your cash on your own.

Whatever way you decide to go, when you’ve converted those coins into cash, you could have another hundred bucks to use towards the emergency expenses.

4) Organize a Garage Sale

One man’s trash can be another’s treasure, as the saying goes. Although yard and garage sales require lots of effort however, they can yield an impressive amount of money for some sellers. Be sure to promote your sale through Craigslist, Facebook (if you have an existing local group), your local newspaper (online and print) and church bulletins, and put up neon signs with black lettering in key locations to attract as many people as possible.

5) Take money from your Retirement Account

For larger sums of money, the first four steps may not be sufficient. That’s when it makes sense to look at your 401(k). In most years, if you’re younger than 60 1/2, you’ll pay a 10% penalty when you withdraw your 401(k) funds, but there are occasions where it’s beneficial to do this.3

Also, there are certain exceptions when the penalty of 10% could be waived, such as when you have unreimbursed medical expenses that exceed 7.5% of your modified adjusted gross income.10 You can also borrow, rather than take the funds out of your 401(k) it is a better option if you are able to manage it.11

If you do not have an 401(k) however you have an IRA it could be a source for funds, especially in the case of an Roth IRA. With a traditional IRA, your options are more limited However there are certain situations in which you can withdraw the retirement funds at no cost to you.3

6.) Take a Part With Your Plasma

The next step is to explore more extreme options. Plasma is a valuable resource that is used in a variety of medical procedures and research. Donating plasma is similar to giving blood, according to Octapharma Plasma Inc., which is a firm that collects plasma used to create life-saving medicines for patients worldwide.1213

Once your blood is drawn then it’s passed through special equipment which separates plasma from other components of your blood. The plasma is then gathered in a container while the other components are transferred to your blood in the process of plasmapheresis.

Reports vary regarding the amount you can earn as it is contingent on several aspects. It is possible to earn between $20 to $60 per donation. As per the Octapharma site for plasma «Generally that the heavier you are, the more plasma we can collect, and the longer to donate it. The amount of money that new and returning donors receive is a reflection of this. «12

7) Get Money from Friends or family

We put this one off until last because it really should be a last resort. Although borrowing money from friends or relatives could be an easy fix 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.

According to an article published in Psychology Today, unpaid loans can lead to lingering bad relationships between the lender and the borrower.14 If you are planning to borrow money, it’s probably best to make a written contract that states when you’ll start to pay back the lender and also if you’ll be required to pay interest on the amount borrowed.

The Bottom Line

If you’re cash-strapped when a financial emergency strikes, you’re not alone. The vast majority of Americans do not have enough money on hand to pay for unexpected expenses. When you find yourself in this situation the most damaging thing you can do is create credit card debt, or obtain a payday loan, which will be a huge cost in terms of interest.

It’s good to know that there are many smart methods to get money fast without ruining your finances. If you decide to trade in some of your belongings or take on odd jobs, or borrow money from your parent or friend, one thing is sure: As soon as you’re able to recover from this financial catastrophe, it’s time to begin building an emergency savings account.