October 22, 2020

What to Do If You Need Cash Quickly

Emergencies happen. Bills are due, but you don’t have sufficient funds in your account to cover them all. Unfortunately, failing to make a payment could negatively impact your credit score and result in you owing more thanks to late and various other fees.

You can try calling your respective creditors or service providers to discuss your options. What if they’re not understanding, though? You need to know how to get money in your bank account, stat, or you might lose a necessity until you can pay up.

If you’ve overdrawn your account but want to avoid the dangers of payday loans, here are a few legitimate ways to get quick cash:

Use Earnin

Let’s say your internet bill is due during the second half of the month, but you don’t have the money to cover it because you need to prioritize rent, water, and other necessities. Even worse, your employer’s pay cycle delays when you receive your paycheck, so you probably won’t get paid for several more days. You can’t overdraw your account, but you also don’t want to find an internet café whenever you need to get online.

You could borrow money from a friend, but there’s an easier option: use Earnin! Earnin’s a community-driven app that enables you to receive your money after you’ve earned it. It’s more than a quick money app because those funds are rightfully yours — you can get the $65 it will take to cover your internet bill, and Earnin deducts the amount from your paycheck after it comes in. It’s not your fault the pay cycle screwed you over, after all!

Sell Your Possessions

This option isn’t fun, but you might decide it’s necessary if you’re in a tight enough spot. Selling your stuff has no upfront costs, and you get to keep 100% of the profits if you do 100% of the work.

Host a yard sale or go to a pawn shop to see how much you can get for various items (preferably those you don’t need, such as clothes and unused electronics). You can also sell possessions on apps like Letgo, Decluttr, and Poshmark, which broaden the range of customers you have access to. Some of your items may also be rentable.

Perform Odd Jobs

If you don’t want to sell your stuff and have the time to squeeze it in, sell your labor and take up “gig” work. Common ideas include driving for rideshare services, delivering food, or house (and pet) sitting. One of the advantages of side-gig work is that you can do it on your own time, can choose what you participate in, and you can do it as often or as little as you’d like.

Apps like TaskRabbit connect users to a wide range of opportunities in their local areas. Maybe someone needs help mounting a TV, assembling a piece of furniture, or cleaning their kitchen. Whatever you’re willing and able to do, performing odd jobs is a convenient way to earn quick money.

Take Out a Credit Card Advance

Despite your current situation, is your credit in decent shape? You might be able to take out a credit card cash advance. You’ll have to pay a fee and interest (unless you pay off the balance by its due date), so be careful about putting yourself in further debt unless you know your financial predicament will improve in the near future.

Request an Advance from Your Employer

On a related note, consider asking your employer for an advance on your paycheck. You will receive your salary or wages early if your employer agrees and will pay it back through payroll deduction over the next pay period. The worst your employer can do is say “no,” so it never hurts to ask.

Apply for a Loan

If you need a substantial amount of money that none of the options above will cover, then you may consider applying for a personal loan. Some lenders allow you to borrow within a day, but you’ll need good credit unless you want to be stuck with a staggeringly high interest rate.

You can use a personal loan for something clever, though: consolidating debt. Between medical bills, utilities, rent or mortgage payments, student loans, and everything else, those are lots of obligations to keep track of and associated fees to pay. This piece of advice isn’t so much to get you quick money as it is to save you future headaches, but you can roll your debts into one and make a single, consistent monthly payment.

It’s understandable if you find yourself facing difficult financial choices. You have more options than you may know, though, so consider your time, assets, debts, and other factors when you need cash quickly.


Photo by: Pixabay

Disclaimer: Please note, the material collected in this post is for informational purposes only and is not intended to be relied upon as or construed as advice regarding any specific circumstances. Nor is it an endorsement of any organization or Services.

EarnIn is a financial technology company, not a bank. Bank products are issued by Evolve Bank & Trust, Member FDIC. The EarnIn Card is issued pursuant to a license from Visa USA Inc.

1Subject to your available earnings, Daily Max and Pay Period Max. EarnIn does not charge interest on Cash Outs.

2Fees apply to use Lightning Speed. Lightning Speed may not be available to all Community Members. Cash Outs may take up to thirty minutes, actual transfer speeds will depend on your bank connection. Restrictions and/or third party fees may apply, see Earnin.com/TOS for details.

1Restrictions on use of Services and/or third party fees may apply, see earnin.com/privacyandterms for details.

2Balance Shield cash out is subject to your available earnings and daily pay period max. Other restrictions and/or third party fees may apply. For more information visit earnin.com/privacyandterms.

3Tip Yourself Account funds are held with Evolve Bank & Trust, Member FDIC and FDIC insured up to $250,000. Tip Yourself is a 0% APY and $0 monthly fee service. Other restrictions and/or third party fees may apply, see earnin.com/privacyandterms for details.

1Fees may apply to use Lightning Speed. Lightning Speed may not be available to all Community Members. Cash Outs may take up to thirty minutes, actual transfer speeds will depend on your bank connection. Restrictions and/or third party fees may apply, see  Earnin.com/TOS for details.

2Restrictions and/or third party fees may apply, see Earnin.com/TOS for details.

3Balance Shield cash out is subject to your available earnings and your daily pay period max. Other restrictions and/or third party fees may apply, see Earnin.com/TOS for details.

4Tip Yourself Account funds are held with Evolve Bank & Trust, Member FDIC and are insured by the FDIC up to the standard maximum deposit insurance amount per depositor, per FDIC-insured bank, and per ownership category. Tip Yourself is a 0% Annual Percentage Yield and $0 monthly fee service. Other restrictions and/or third party fees may apply. For more information/details visit earnin.com/tos.

5Up to two days early is based on comparison with traditional banks. Exact timing is dependent on your employer’s payroll policies. For more information on eligibility and requirements of Earnin Express, visit Earnin.com/TOS.

6Your Max on Earnin Express is up to 80% of your payroll or $1000, whichever is less. The 80% is dependent on you routing your full paycheck to Earnin Express. For more information on eligibility and requirements of Earnin Express, visit Earnin.com/TOS.

7Learn how we collect and use your information by visiting our Privacy Policy.

1Disclaimer: Restrictions and/or third party fees may apply, see earnin.com/privacyandterms for more details. Lightning Speed may not be available to all Community Members. Cash Outs may take up to thirty minutes, actual transfer speeds will depend on your bank connection.

2Disclaimer: Lightning Speed may not be available to all Community Members. Cash Outs may take up to thirty minutes, actual transfer speeds will depend on your bank connection. Restrictions and/or third party fees may apply, see earnin.com/privacyandterms for details

3Disclaimer: Community Member must have had at least 1 successful debit with EarnIn. Limit to 1 Max Boost per pay period. A boost will not adjust a Community member's daily max. Restrictions may apply, see earnin.com/privacyandterms for more details

*Disclaimer: Balance Shield Cash Out is subject to your available earnings and daily pay period max. Other restrictions and/or third party fees may apply. For more information visit earnin.com/privacyandterms

1Restrictions may apply, see earnin.com/privacyandterms for more details. Tip Yourself Account funds are held with Evolve Bank & Trust, member FDIC and FDIC insured up to $250,000. Tip Yourself is a 0% Annual Percentage Yield and $0 monthly fee service. Your Tip Yourself Account and any Tip Jars are not Savings Accounts. For more information/details visit earnin.com/privacyandterms

2Disclaimer: NO PURCHASE NECESSARY TO ENTER OR WIN. Must be 18 years of age or older and a legal resident of the U.S. or DC. Games begin each Sunday starting 12/6/20 at 9:01 p.m. ET and end the following Monday at 9:00 p.m. ET with the last Game ending 12/19/21. To download the App, view the Official Rules, odds disclosures, prize details, and alternate means of entry, visit https://www.Earnin.com/wewin/game-rules/. Void where prohibited. $10,000,000 grand prize payable over 29 years. Sponsor: Activehours, Inc. (d/b/a Earnin), 200 Portage Ave, Palo Alto, CA 94306.

3Disclaimer: Restrictions Apply. See Earnin.com/wewin/pool-rules/ for more information

1EarnIn does not charge a hidden or mandatory fee for use of its services. Restrictions and/or third party fees may apply. For more info: visit earnin.com/TOS.

*Survey conducted in February 2020 with 889 participants.

* Earnin does not charge hidden fees for use of its services. Restrictions and/or third-party fees may apply. For more info, visit earnin.com/TOS.

1EarnIn is a financial technology company, not a bank. The Deposit Account, Secured Account, and EarnIn Card are issued by Evolve Bank & Trust, Member FDIC. The EarnIn Card is issued pursuant to a license from Visa USA Inc.

2Subject to your available earnings, Daily Max and Pay Period Max. Restrictions and/or third party fees may apply, see EarnIn.com/TOS for details.

3Internal analysis conducted by EarnIn in January 2021, represents total users who Cashed Out at least once from January 1 to December 31, 2020

4This research was conducted online by FTI Consulting’s Digital & Insights team, on behalf of Brigit, MoneyLion & EarnIn. FTI Consulting researched n=4,735 of Brigit, MoneyLion and EarnIn’s Direct to Consumer (D2C) Early Wage Access service consumers between the dates of April 21st, 2021 – May 18th, 2021, and results were weighted in equal proportions to ensure equal representation among the consumers of each participating company. Due to the standard convention of rounding, some totals may not add up to 100%

5Internal survey conducted in February 2020 with 889 participants.

6EarnIn does not charge hidden or mandatory fees for use of its services. Restrictions and/or third party fees may apply. For more info visit earnin.com/TOS

7$4.68 ATM fee = $3.02 ATM + $1.66 bank fee https://www.bankrate.com/banking/checking/checking-account-survey/

8Internal data June 2022- Dec. 2022.

* EarnIn does not charge hidden fees for use of its services. Restrictions and/or third-party fees may apply. For more info, visit earnin.com/TOS.

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