6 Ways to Quickly Get Emergency Cash

March 19th, 2023

4 min read

How to Get Quick Cash During An Emergency

Emergencies can happen anytime and often strike when we least expect them. Whether it’s a medical emergency, a car repair, or an unexpected bill, an emergency can quickly leave you wondering how you’ll find the cash you need. Fortunately, there are a variety of quick and easy ways to get cash during an emergency. From selling items you own to taking out a loan, this guide will provide you with 6 creative ways to help you access the money you need to get through a tough financial situation. With careful planning and preparation, you can be ready for any emergency and be able to access the cash you need to get through it.

1. Look Into an Emergency Loan

A personal loan is a type of unsecured loan that you can use to cover any number of expenses, including an unexpected emergency. Personal loans usually come with lower interest rates than credit cards and other types of loans. Before you apply for a personal loan, make sure you understand the terms and conditions, so that you know how much you’ll need to pay back, and what the payment schedule looks like. Personal loans can be a good option when you need quick cash. Just make sure you can repay the loan with your next paycheck. You should also be aware that personal loans have high interest rates, which cost you extra money in the long run.

2. Consider Selling Your Unused Belongings

If you have stuff that you don’t use, sell it! Online marketplaces like eBay, Facebook Marketplace, Gumtree, and Amazon’s marketplace make it easy to sell your stuff quickly and easily. When you are selling your unused belongings, make sure you price your items competitively to help you get sales quickly. It’s also important to package and ship your items properly to avoid complaints from buyers. You can use the extra cash from selling your unused belongings to cover an unexpected expense. If selling your belongings isn’t an option for you, consider donating them to help others or have them picked up by a company that recycles old items.

3. Borrow Cash From Your Credit Card

If you’re already carrying a balance on your credit card, you can use the card to access cash. Just be aware that this is an incredibly risky move. Credit card companies charge high interest rates, which can quickly add up and leave you in a worse financial situation than before. If you do decide to use your credit card to access cash, make sure you only borrow what you can pay back quickly, and with the smallest amount of interest possible. Before you apply for a new credit card, make sure you can pay the balance on time and avoid paying unnecessary interest charges.

4. Pick Up a Side Hustle

If you have skills you can monetise, or if you have extra time on your hands, consider picking up a side hustle. Many people use side hustles to earn extra money on a regular basis. You can use the extra cash to help cover an unexpected expense. Before you decide to pick up a side hustle, make sure you do your research and understand all the risks involved. It’s also a good idea to have a contingency plan in place in case you don’t earn as much money as you expect. You should also make sure you have the time to dedicate to earning extra money.

5. Take Out a Personal Loan

A personal loan is a type of unsecured loan that you can use to cover any type of expense, including an unexpected emergency. Before you take out a personal loan, make sure you understand the terms and conditions. You should also have a plan for repaying the loan so that you don’t end up in debt. Personal loans have higher interest rates than other types of loans, which means you pay more in interest. However, personal loans are also offered by a wider variety of lenders, making them a good option when you need quick cash.

6. Get an Instant Pay Advance With Wagetap

Wagetap is one of the leading wage advance apps in Australia. It’s a great tool that allows you to get the money you've already earned, instantly. They also have a bill split feature where they can cover bills up to $600 and you can repay in smaller instalments.

When it comes to getting cash during an emergency, the best option is to be prepared. That way, you can avoid needing to use any of these creative ways to get cash in a pinch. It’s a good idea to create an emergency fund to cover unexpected expenses. That way, if an emergency does arise, you have the money you need to get through it. Emergency funds come in many forms, and it’s important to choose the option that works best for your financial situation.

For additional help in improving your spending habits, you can always download Wagetap. It is a leading wage advance and bill split app that allows you to access your pay early. Emergencies can always happen and Wagetap can help you handle life's unexpected expenses.

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