5 Ways to Get Money Quickly in Times of Need



You may often find yourself in unexpected circumstances like a medical emergency, an accident, a car crash, or a wedding, which might exhaust your cash reserves and leave you needing money. Fortunately, you can quickly get funding to finance these emergencies in many ways. You can take out loans, sell old or unused items, clothes, and electronics, apply for lines of credit, or even sell a property.

Here are four ways to get money quickly in times of need.

Take Out a Loan

One of the quickest ways to get money is to borrow it from a lender. You can borrow from your family and friends or apply for a loan from financial institutions or online lenders.

If you only require money for a short time, you can apply for payday loans. The lender lets you borrow an amount based on your monthly income, usually a portion of your pay. You have to pay the amount within 30 days in one lump sum, along with a lending fee and interest.

Payday loans usually have very high-interest rates, so the lender will also look at proof of income, such as a pay stub, to ensure you can repay the loan within the time limit. A payday loan can get approved in as little as 15 minutes.

Personal loans from online lenders are another convenient and fast way to get money. Interest rates vary from lender to lender, and you can quickly finish the application process from your computer or phone. The loan typically gets approved within a week. Beware of the extraordinarily high-interest rates involved with these loans, though.

Applying for a Line of Credit

Another way to quickly access a large sum of money is by applying for lines of credit from a financial institution or a lender. A line of credit is access to a sum of money you can borrow up to a specific maximum limit. Then you have to repay the used sum to be able to borrow again. You can get lines of credit for various amounts, $1000, $10,000, or even more depending on your need.

To get a line of credit, you must provide the lender with your personal and financial information, such as your social security number, address, employment details, and proof of income, such as pay stubs. Lenders will also review your credit score to ensure you can repay the amount. A line of credit can get approved within a day to a week.

Bank Overdraft

Bank overdrafts are another way you can acquire money immediately.

A bank overdraft happens when your bank account does not have enough money to cover a transaction or a withdrawal, but the bank allows it anyway. You can keep withdrawing money from the bank even if your account has no funds.

The interest rate on the additional drawn amount is very high; however, it’s lower than the interest on credit cards. This makes bank overdrafts a good option for short-term money requirements in an emergency. Some banks also charge a fee per overdraft, sometimes even additional fees, and impose penalties for overdrawn accounts.

You have to pay the bank within a time limit. If you fail to do so, the bank will turn over your account to a debt collection agency. The bank would also freeze your account, which would mean that you won’t be able to withdraw any money sent to the report, like your salary.

Sell Your Property

Another way to get considerable money is to sell your property, for example, a house. You can consider moving into a smaller place.

You must hire a real estate agent or call a home-buying company to sell your house.

For a typical commission fee of 2% to 4% of the selling price, a real estate agent will help you with the entire process, oversee professional photographers to get high-quality images of your property, market your property, vet buyers, and negotiate the best price.

Typically, selling a house takes 1.5 to 2 months and sometimes even longer. So, to sell it faster, ensure that you price it competitively and increase its curb appeal by cleaning, decluttering, and taking care of essential repairs like loose tiles, leaky faucets, loose hinges on cabinets and doors, etc.

However, home-buying companies, like Mill City Homebuyers, can directly buy your house quickly without any need for repairs, an agent, or a commission fee. Selling your home with such services can also be a way to get cash immediately.

Selling Used Items

You can also make money by selling any gently used items at your home that you no longer want. Clean your items, take clear pictures, write a description, and put your things on Craigslist or Facebook Marketplace, allowing sellers to connect directly with buyers without an intermediary. However, this also means that you might have difficulty vetting buyers and might get lowball offers for your items. You can exchange unused gift cards at home for cash on reputable websites like Raise and CardCash.

You can sell an old tablet, smartphone, TV, or other electronics for immediate cash at services like Gazelle, Decluttr, or Trademore. The amount you receive depends on the electronic’s condition and its model. Once the service confirms the exact model and its state in an inspection, they typically pay you within 3 to 5 business days.

You can also sell high-quality clothes, accessories, handbags, shoes, etc., on online consignment stores like Poshmark. Poshmark allows you to set up an online closet showcasing items for sale. Well-designed posts featuring items in excellent condition, high-resolution images, elaborate descriptions, and competitive prices will let you sell your items faster. Once the sold item reaches the buyer, Poshmark releases the funds to your account within three days. Other examples of online consignment stores include Depop, ThredUp, and Mercari.


Fortunately, there are many ways to get immediate funding if you are in a crunch and need money. You can take out a loan from family and friends, financial institutions like a bank, or online lenders, or apply for lines of credit. Or you may sell unused items on websites like Craigslist and Facebook Marketplace, trade in old electronics for cash, or sell high-quality used clothing on websites like Poshmark. You can also sell a property, like a house, but increase its curb appeal and take care of any repairs to make it sell faster.

About author

I work for WideInfo and I love writing on my blog every day with huge new information to help my readers. Fashion is my hobby and eating food is my life. Social Media is my blood to connect my family and friends.
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