How to Get Emergency Money in Less Than 24 Hours

Did you know that over half of American adults don’t have enough saved up to handle a $1,000 emergency?

Whether your car needs a repair or you face some other unexpected bill, you’re not alone if you need money urgently. The good news is that you’ve got plenty of options to get the cash you need in under 24 hours.

You can often obtain short-term loans in as little as a few minutes. You also have options involving using your unwanted items or taking on small jobs.

Read on to learn how to get emergency money fast.

1. Apply for a Car Title Loan

A car title loan can give you immediate money if you have a vehicle with sufficient value and a clear title. The lender will usually let you borrow up to half the vehicle’s value. But in return, you have to hand over your car title, which you’ll get back once you pay off the loan.

You usually get up to a month to pay off a car title loan. In the meantime, you’ll pay interest and fees for borrowing the money. Expect to pay more for this type of convenient secured loan option.

Be warned that you can lose your car if you don’t pay back the loan. In that case, you’d need to pay off the loan and additional fees to receive your vehicle back.

2. Sell Items From Around the House

Whether you’ve got valuables like jewelry or old books and clothes, you likely have something of value. To get cash fast, consider selling these items online or locally.

If it’s a weekend, you can potentially set up a quick yard sale and get cash right away for your old stuff. You can also consider setting up shop at a local flea market that is in session.

Book stores, resale shops, and clothing consignment shops are also good options for getting rid of household items quickly.

Coin shops and jewelry shops will often buy unwanted valuables like coins, necklaces, and rings and write a check on the spot. If you have gold or silver bullion, you can get cash based on the current value of those metals.

You can also consider using websites like Facebook Marketplace, eBay, and Craigslist to get rid of unwanted items for cash. However, you risk that you won’t get an offer within 24 hours unless your item is in high demand.

3. Do Some Quick Side Jobs That Pay Right Away

You might think that it’s not possible to get a job and get paid within the same 24 hours. However, you can still do common chores for other people for some quick cash.

If you know someone who has children, consider asking if they need babysitting services for the day. You can also offer to take care of people’s pets or handle household cleaning duties and repairs.

Even if nobody you know needs paid help, sites like TaskRabbit and Craigslist have opened up options for side gigs that pay right away. You can easily find jobs moving furniture, painting, mowing lawns, or even handling computer tasks.

4. Borrow Cash From Friends and Family

Borrowing money from friends and family can give you quick cash without the need to apply for a loan or pay high interest and fees. The key is that you need to have someone who both has the money you need and trusts that you’ll pay it back.

If they have the money, borrow it but pay it back promptly to avoid damaging the relationship and trust. You may also offer to pay some interest to make it more worth the person’s time.

In the case they don’t have the cash, you could consider an IUO. This is where they give you something to sell, and you will return the value later.

5. Donate Your Blood Plasma

If you don’t need a large amount of money, donating blood plasma may be an option for some quick cash.

The amount you’ll receive will depend on the blood donation center you visit. But you can usually receive at least $30 or $40 for each visit. For your safety, the center will limit the number of donations you can make per week or month.

To qualify for plasma donation, you’ll need to have good health and meet any weight requirements your center sets. You can expect to spend around an hour and a half for the process.

6. Consider a Payday Loan

An alternative to the car title loan is a payday loan that you can obtain online or through a local loan shop within minutes. This type of loan helps you through your next day payday and will be limited by your paycheck amount.

While the lender will usually do a credit check, know that bad credit won’t immediately disqualify you for a payday loan. Your lender will look that your income is consistent and that you have a U.S. bank account for the money to be deposited.

Like with car title loans, payday loans come with high fees. To avoid collections, you’ll need to work with your lender for an extended payment plan if you can’t pay off your payday loan on time.

7. Visit a Pawnshop

Rather than selling jewelry, electronics, or other items of value, you can consider pawning them. In exchange for holding onto your item temporarily, the pawnshop will offer you a short-term loan based on the item’s worth, condition, and demand right away.

You’ll still pay some interest while the pawnshop keeps the item. However, you can avoid the very high rates you’d likely pay for a car title loan or payday loan.

When you pay the loan off, you get your item back. However, the pawnshop has the right to sell your item if you don’t pay the loan back on time. So, reach out for an extension if you think you’ll need it.

Now You Know How to Get Emergency Money

When you run short on cash, you now know how to get emergency money to make it to the next payday. You’ll want to consider your financial situation, the amount of cash needed, and the desired payback timeline when choosing the right option for you.

If you already have a lot of debt, you may want to consider selling items, donating plasma, or taking on extra work rather than taking on another loan. If you do opt for a loan, pay close attention to the fees, interest, and repayment terms.

Be sure to explore our other posts about building wealth and managing your finances.