4 Realistic Ways to Get Cash Now

It may seem that lots of companies have the secret to finding money quickly or tips for making lots of cash with minimal effort. Be forewarned: Sometimes these ads can be misleading. 

We’ll cover some realistic methods that you can use to get some cash fast. There are no scams, gimmicks or schemes on this list — just simple methods that anyone can use to get a little extra financial help. We’ll also show you how you can get up to $250 instantly with Instacash from MoneyLion.

How to Get or Earn Cash Quickly

Let’s take a look at a few realistic methods that you can use to get or make money.  

1. Use Instacash from MoneyLion

Are you looking for an easy way to get a little bit of quick cash to cover an expense? Instacash from MoneyLion is the easy, safe and affordable way to get up to $250 deposited directly into your bank account. And there’s no credit check to qualify. Learn more in the MoneyLion app. In no time, you can get up to $250 at 0% APR in seconds, whenever you have to pay a bill or need a night out!

2. Get a Side Hustle

A side hustle is a type of job that you do outside of your standard nine-to-five gig. Many people who have side hustles do so through freelancing. A side hustle is not the same thing as an extra part-time job. When you take a part-time job, you usually have an employer who decides where you work, what you do every day and how you do your job. A side hustle allows you to work when you want and where you want.

Side hustles can perfectly complement a standard job because you get to choose your own hours. A side hustle can allow you to get in touch with your artistic side, explore a passion and (most importantly) make some extra money to cover an expense or bill. Most side hustles also don’t require a large financial investment — just a little creativity and the desire to market your services. Some common side hustles include:

Making and selling crafts: Do you have a passion for crochet, sewing, painting or another creative pursuit? Creating and selling things you’ve made through a crafting website like Etsy can get you some quick cash. You never know who might be looking for artwork or an item of clothing exactly like what you can make.

Driving for a ridesharing service: Ridesharing services like Uber, Lyft and Via can offer you a quick way to make money in your spare time. First, download a ridesharing app and sign up to be a driver. Every app has its own individual qualification policies for both drivers and eligible vehicles, so you’ll need to make sure that you fit the bill. As soon as you get an acceptance, you can begin driving. Your app will connect you with riders in your area. Simply drive to the location, pick up the rider and drop him or her off at the destination. You’ll make a percentage of what the rider paid in the app and you may also collect tips.

Get proactive with pets: Do you love animals? You can also make some quick cash offering dog walking, pet grooming or pet-sitting services. Advertise your services in your local community center or at nearby pet supply centers. Be sure to ask management if it’s okay for you to hang up any advertising material before you put up posters or flyers.

One important thing to keep in mind when you pick up a side hustle is that freelancing isn’t tax-free money. You’ll need to collect a tax document called a 1099 form from each of your clients when tax season rolls around and you’ll also need to report the income you make to the IRS. Your host site (like Etsy or Uber) may handle tax documentation for you. If not, you’re responsible for making sure that all of your income makes it onto your tax documents. 

3. Sell Something You Own

Harboring old clothing or video games that you no longer play? Chances are that you have something in your home that you won’t miss if you sold it. Sites like eBay and Poshmark make it easier to sell something that’s gathering dust in your house and make some quick cash. Simply create an account on your website of choice, create a listing for the item you want to sell and set a time limit on the sale.

Here are a few tips that you can use to increase your online sales:

Don’t sell prohibited items: Every website has items that you’re allowed to sell and aren’t allowed to sell. For example, Poshmark requires you to have a piece of clothing, a pair of shoes or an accessory you want to sell. Even eBay (which allows you to sell nearly anything) prohibits selling things like firearms and alcohol. Make sure that the item you’re selling isn’t prohibited. Listing something that’s against the site’s terms of service can get your account banned or suspended.

Take clear photos of your items: The photos you take of your items will influence a buyer to click on your listing and buy your item. Use natural lighting to take photos of your items and make sure that you focus your camera before you tale a shot. Upload photos of your item from every angle.

Write a great description: Your photos may lure buyers in, but your description seals the sale. Make sure you include all relevant information on your item in the description. How many inches long is a dress you’re selling? When was the artwork you’re selling actually painted? If you’re selling a book, what edition is it? Are there any stains, cracks, or other defects on the item you’re selling? Create a thorough description to help buyers feel confident in how they spend their money and allow you to make sales faster.

Prefer to do things the old-fashioned way? You may want to hold a yard sale. Yard sales are a tried-and-true way to earn a little extra money from the comfort of your own home. Use these tips to increase your yard sale revenue:

Have change on hand: Don’t lose a sale because you can’t break a $20 bill! Make sure you have plenty of quarters and dollar bills on hand the day of your sale.

Advertise a few weeks ahead of time: Use brightly-colored poster board to create signs that advertise your sale. Put them up around your town about two weeks before your yard sale and check on them periodically to make sure they’re still up.

Team up with your neighbors: Buyers are more likely to come to a community yard sale than a single-family sale. Decide on a date and pool your neighbors’ treasures with your own.

Make sure everything has a price: Buyers don’t want to have to ask for a price on every item they see. Make sure everything you’re selling has a label with a price the morning of your sale.

You must report the income you make from your sales to the IRS for tax purposes. Write down how much money you make and keep detailed sales records to avoid tax troubles later on. 

4. Take Out a Loan

You borrow money from a bank or a credit union and pay it back in small monthly installments when you take out a loan. Every loan includes two parts:

  • Principal: The amount of money you borrow.
  • Interest: Extra money that you pay to the lender in exchange for giving you a loan.

Most lenders calculate interest using an annual percentage rate (APR). APR is the amount of interest you pay on your outstanding principal every year. Let’s say you borrow $1,000 and your lender gives you the loan with an APR of 20%. You’ll pay $200 in interest every year you have the loan out. A high APR can make it very difficult to pay back your loan on schedule, so don’t be afraid to shop around for lenders until you find a reasonable APR like a 5.99% APR with Credit Builder Plus.

Let’s go through an example of how a loan works. Imagine that you need to borrow $2,000 to cover an unexpected HVAC repair bill. You go to your bank and take out a loan for $2,000 with a two-year term and 12% interest. Your lender gives you $2,000 in cash when you close on the loan. Then, each month, you pay the lender $94.15. By the time your loan matures and you make your last payment, you’ve paid a total of $2,260 to the lender — $2,000 in your original principal and $260 in interest.

Keep in mind that there are many types of loans — and you can’t use every type of loan for every purchase. For example, you may only use a mortgage loan to buy a home. Student loans can only go toward tuition or other college expenses and auto loans can only fund vehicle purchases. Other types of loans (like personal loans) can go toward almost anything, ranging from a vacation to a plumbing repair bill. Make sure that you’re using the right type of loan, depending on what you need to buy.

Get Extra Cash the Safer Way

You might think you must turn to an expensive payday lender or pawn shop to cover your expenses when you need money fast. However, the truth is that there are plenty of legitimate methods that you can use to earn cash fast — or borrow without interest using Instacash from MoneyLion.  

Do you think that Instacash might be right for you? Sign up with MoneyLion today by downloading the MoneyLion app from the Google Play or Apple App store. 

Disclosures

MoneyLion Checking Account provided by, and MoneyLion Visa® Debit Card issued by, Lincoln Savings Bank, Member FDIC. Terms and conditions apply.

Investment advisory services provided by ML Wealth, LLC. Investment Accounts Are Not FDIC Insured • No Bank Guarantee • Investments May Lose Value. For important information and disclaimers relating to the MoneyLion Investment Account, see Investment Account FAQs and FORM ADV. Broker-Dealer may charge a $0.25 withdrawal fee, among other fees. Funded accounts are subject to administrative fee of $1 per quarter.

Current Credit Builder Plus membership required for Credit Builder Plus loan eligibility; the $19.99 monthly fee will be withdrawn from your linked bank account.  All loans with an Annual Percentage Rate of 5.99% are made by either exempt or state-licensed subsidiaries of MoneyLion Inc. The Credit Builder Plus loan may, at lender’s discretion, require a portion of the loan proceeds to be deposited into a reserve account managed by ML Wealth, LLC and held by Drivewealth LLC, member SIPC and FINRA. The funds in this account will be placed into a money market cash management or FDIC bank sweep vehicle, and may generate interest at prevailing market rates.  You will not be able to access the portion of your loan proceeds held in the credit reserve account until you have paid off your loan, and so long as your Credit Builder Plus membership payments are current. If you default on your loan, your credit reserve account may be liquidated by the lender to partially or fully satisfy your outstanding indebtedness. May not be available in all states.Credit Reserve Accounts Are Not FDIC Insured • No Bank Guarantee • Investments May Lose Value. For important information and disclaimers relating to the MoneyLion Credit Reserve Account, see Investment Account FAQs and FORM ADV.

A Credit Builder Plus loan may or may not improve your credit score. Credit scores are the result of your personal credit practices.

Cash advance requires current membership in Credit Builder Plus ($19.99 monthly fee) or Instacash with Banking ($9.99 monthly fee) membership programs. Instacash with Banking monthly fee is waived for members who connect and maintain recurring eligible direct deposits into their MoneyLion Checking Accounts. All Credit Builder Plus and Instacash with Banking members are automatically eligible to access either $25 or $50 of cash advance, depending on creditworthiness.  Members can increase their cash advance limit to up to $250 by connecting and maintaining recurring eligible direct deposits into their MoneyLion Checking Accounts and after up to three consecutive direct deposits have cleared, or at MoneyLion’s discretion. See Membership Agreement and Cash Advance FAQs for more information.

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