Everyone needs a little extra cash from time to time. Sometimes you may have forgotten about a bill or other times you just paid off a big debt, and every once in a while an expense hits you out of nowhere.
Regardless of how you got into the situation, it’s important to know that you have options. Here’s what you need to know when you need $100 fast.
$100 Loan Options
A loan can put the $100 you need in your pocket instantly, but make sure to plan for how you’ll repay it. When it comes to finding a loan, you have a few options.
Get Instacash Advances of $100
MoneyLion offers one of the quickest ways to get a $100 advance with Instacash. After signing up for a free MoneyLion account, link your current bank account, and we will determine how much Instacash you qualify for. As long as you have consistent income and your bank account is in good standing, you could qualify for $100 in Instacash. Even better, you’ll pay no interest at all on your Instacash advances.
This service is free for those who can wait 12–48 hours to get the money. In other words, you can get your $100 loan without having to worry about interest costs or lending fees. The only time you’ll pay a fee is if you need your money instantly, then you’ll pay a small fee of $3.99 or $4.99.
Want easier access to higher Instacash amounts? Get a RoarMoney account and set up direct deposits! This account offers the benefits you’d expect from an online institution—low fees, a convenient app, and budget-monitoring services. When you link your direct deposit to RoarMoney, you can receive Instacash advances of up to $250 at 0% APR.
Ask a Friend
This option may work out fine for you, but you should proceed with caution. Mixing finances and friendships can be a messy combination. You don’t want to sacrifice either one for the other. If you decide to go with this option, it may help to be overly formal about the loan. Even if this is a friend you hang out with every week, don’t let that familiarity seep into the terms of the loan.
Write out the details of the loan, just as you would with a traditional lender, so both of you are clear about how much is being borrowed, when you’ll pay it back, how much interest will be charged, and what will happen if you can’t honor the terms. Since you’re the one borrowing, your friend may feel uncomfortable bringing up the finer points of the loan, so it’s your responsibility to hammer out all the details before accepting the money.
Pawn Your Items
Pawning is essentially a loan that’s secured by collateral, and spoiler alert: they aren’t your best option.
It works like this; you bring a valuable item (such as a piece of jewelry) to the pawnshop, the pawnshop gives you a loan and holds onto the item, and you get that item back when you repay the loan.
However, that’s a best-case scenario, and it doesn’t mention the high fees and interest rates that pawnshops often charge. In reality, the loan will be expensive, and if you can’t meet the terms of the loan on time (including interest and extra fees) then you lose your item altogether. In short, pawning is inconvenient, expensive, and potentially risky.
Earn $100 Options
All the options covered so far are loans, and you will have to repay that $100 you borrow. If you can earn the money outright, on the other hand, then you don’t have to worry about repaying it. However, that may be easier said than done.
Ask Your Boss
Some bosses, especially those at smaller companies, may be willing to give you a $100 advance on your next paycheck. These advances put the money in your pocket now, and then HR will deduct that money from your next paycheck. Your boss might turn you down, but they might be willing to give you the advance, and you’ll never know for sure until you ask.
However, Instacash is essentially an advance on your paycheck, too. You can get the $100 now, and take it out of your paycheck once you get paid — just like an advance on your paycheck. If you have Instacash, you’ll never need to ask your boss for an advance, and you can save yourself the conversation.
Start an App-Based Job
We are living in the gig economy, so if you need to earn some quick cash, your next gig is only a few taps away. Common app-based gigs include food delivery, grocery shopping, and even dog-walking. Some of these apps have a delayed sign up process, so you may have to wait for the identity verification process to play out.
Get Quick Cash With MoneyLion
When it comes to shoring up your finances between paychecks with some quick cash, MoneyLion offers the easiest and safest options. With Instacash, you can simply draw on your Instacash credit to add $100 to your wallet. If your credit score needs improving, you can knock out two financial goals at once with a Credit Builder Loan that boosts your score and gives you some of the cash you need now.
Either way, you can get started by downloading the MoneyLion app, or by visiting the MoneyLion website.