There may come a time when you need some extra cash and only have a short space of time to get it. You could take out a loan to get the extra money but this means that you are faced with making repayments for months or years to come.
The good news is that there are alternatives to borrowing when you need cash quickly, depending on how soon you need the money. Let’s take a closer look at 10 of these options.
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Winning extra cash
Many people look to lotteries, or online gambling sites, as a way to earn extra money quickly. It’s a simple process. For instance, people who join an uudet pikakasinot (new instant casino when translated to English) in Finland do not even need to complete a registration form. They verify their identity using a bank account.
The problem with this strategy is that there is no guarantee of winning. There is every chance that you will spend more than you win unless you are very lucky.
Changing spending habits
You may be surprised at just how much altering your spending can add to your bank account, in a relatively short space of time. Something as simple as the Latte Factor can make a big difference. This involves cutting back on habits such as buying a latte each day. These habits by themselves may seem small but they can add up to a lot.
Driving for Uber or Lyft
The bonus about driving for Uber or Lyft is that you can choose the hours that you work. However, you do need to have a clean driving record and a vehicle that is in good condition and is reasonably new. You also need to go through the approval process which may not be ideal if you need money very quickly.
Selling unwanted items online
One way of raising cash that can produce results within a few days is selling items that you do not need. You can list items on sites like eBay and Craigslist. It’s important to make sure that the items you sell are in good condition and that you are a good seller. This helps you to develop a good reputation and makes it more likely that you will be successful at selling on an ongoing basis.
Making the most of a talent
If you have a talent, it can be a great way to make some extra cash. For instance, you can make cards or create portraits to sell on sites like Etsy.
Taking care of people’s pets
People love their pets and they often need help taking care of them. This gives you an opportunity to boost your bank balance quickly. You can start by checking with neighbors to see if they want you to walk their dogs or look after their pets while they are on vacation. Then, you can register with a pet-sitting site online.
Grabbing a side gig
Sites like Fivver give you the opportunity to find lots of different side gigs. You can offer your services to clients who want help with everything from graphic design to copywriting and from video editing to web design.
Sharing knowledge
Knowledge and skills can be surprisingly profitable. If you need money quickly, you can offer this knowledge to friends and family in return for cash. For instance, you may be able to coach your friend’s kids in a foreign language. If you want to take things a step further, you may want to offer your services online.
Helping out the neighbors
A lot of people need help with things like household cleaning and gardening. Helping your neighbors with this kind of work is a good way of getting some extra cash. You may even be able to develop your skills and take on this side hustle more seriously, developing a bigger client base.
Taking part in drug trials
Drug companies are often willing to pay people to take part in clinical trials. It may not be an instant way of getting money but it can be fairly lucrative. However, you do need to be aware of the good and bad points of this type of activity. There may be some risks attached.
Take a look at all these potential ways of boosting your bank balance quickly, look at the pros and cons, and consider what is a good option for you.