Five Ways to Get Fast Cash
By [http://ezinearticles.com/?expert=Jeremiah_Carstarphen]Jeremiah Carstarphen
Before I go into the five ways to get fast cash, I want to make it clear that I do not condone borrowing money to but stuff that has no value. The only way I would even borrow money myself is if I know that I can make more money. I am a lot more cautious in borrowing money now since losing my home to foreclosure and filing for bankruptcy.
5 Ways To Get Fast Cash
1. Borrow from your credit cards: If you will make more money than you will be paying in credit card payments, then this could be a quick easy solution to get fast cash. A good example of this is borrowing money from your credit card to get a piece of software or equipment that will help you to make money in your business.
The biggest disadvantage of borrowing from credit cards are the high interest rates that you have to pay back over time. The biggest advantage of borrowing from a credit card is that you can get an interest free loan if you pay it back before your first payment is due.
2. Sell something: If you do not have credit, then an option for you would be to sell something. It is amazing how much stuff we accumulate over time. Most of this stuff that we own we don’t even use. The accumulation of stuff comes from the habit of spending money. Most people spend more money than they save and a lot of this money is spent on stuff. You can also accumulate a lot of stuff by accepting every freebie that comes your way.
The good thing about accumulating all of this stuff is that you will always have something that you can quicly sell to get fast cash. This becomes a problem when you develop an emotional attachment to this stuff and just will not let it go. I call this disease “stuff-itis”. A lot of us suffer from it.
If you offer people a good deal on your stuff you should be able to sell it quickly. The internet provides us with exposure to people all over the world which gives us a greater opportunity to sell our stuff.
3. Borrow money from a friend: If you have a “something for nothing mentality” this might not be a good option for you. If you borrow money from a friend, then I suggest that you pay it back as quickly as possible. Also give them something to gain by paying them back with interest. This will make them more willing to lend money to you again in the future. These same rules apply when borrowing money from a family member.
There are a some cons to borrowing from friends and/or family members. The scripture that reads “the borrower is slave to the lender” is never more true than in this situation. You will find that your friend’s attitude changes toward you. This change may be subtle, but it will change. Also if you do not pay the money back in a timely manner you risk losing the friend.
You may not be able to lose a family member but they probably will not like you and will label you as a moocherif you do not pay them back.
4. Rip-off Loans: The sole reason for these places to exist is to rip off poor people or people in dire situations who desperately need to get fast cash. This could be you. The advantage of borrowing money from a rip-off loan place is that it is usually easy to get approved for a loan. You might just need to provide a laundry list of references so that they can call and harass them if you do not pay your bill on time.
Be sure to pay the money back before your payment is due, otherwise you will pay a ridiculous interest rate. Although the rip-off loan places that I am referring to here strictly lend cash money, I also include rent-to-own, buy-here-pay-here, and car title pawn dealers all in this same category.
5. Hard money loan: You might be able to convince a stranger to loan you money if they feel that it is a good investment. Hard money loans are more common in real estate deals and usually have minimal requirements that you need to meet in order to qualify. These type of loans come with a high interest rate as well.
Those are my top 5 ways to get fast cash, but the absolute best way to get fast cash is to develop good money management skills so that you will never be in a situation where you need to get fast cash again. If you learn to manage your money effectively, when an emergency comes up you will have the cash readily available to take care of it. Much success,
Jeremiah Carstarphen
The Cartoon Coach
Get Better, Do Better, Be Better http://www.thecartooncoach.com
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