It happens to the best of us. You get low on cash and suddenly you find yourself desperate for money. What do you do? Where do you turn? What are the possible solutions when you’re so broke you can’t even buy something off the dollar menu?
Relax! This guide will give you pointers on:
- How to get money in a pinch from places you wouldn’t expect
- How to think creatively when you’re desperate for money
- Several short and longer-term solutions for when you need money
If you’ve found a way to get on the internet today, you’re already ahead. Don’t be desperate for money – follow these tricks and tips to get the cash you need today.
1. Borrowing money
Difficulty: Easy
Resources needed: Few
Credit required: Possibly
Amount you’ll receive: $ – $$$
Get money today: Possible
When you’re truly desperate for money, it’s possible that your solution is right under your nose – you can always borrow. In this section we’ll take a look at some of the places you can get money when you’re in a pickle, whether you’ve got good credit or not.
You can borrow money whether you need just a few bucks for cab fare or a few thousand for a new car. Here’s where you can turn if you need to borrow money when you’re desperate.
1.1 The bank
This is the most obvious solution for most people when you need to borrow money. The bank is a great option if you have average to good credit, and sometimes you can get your money as soon as the next day. Gone are the days when the bank would “mail you a check” – everything is electronic now so if you need money for your mortgage payment tomorrow, call your bank today.
When you apply for a loan through the bank, you’re going to need to fill out some info on yourself. If you’re in a country that uses a credit rating system, your application will appear as a hard inquiry on your report. Note that that has the potential to drop your credit score a bit.
The loan you apply for and receive can be anything from several hundred dollars to several thousand. If you’re truly desperate for money, go in and talk to a branch representative. She can help pre-qualify you and let you know your odds of approval.
- The bank should be your first go-to when you need a few hundred to a few thousand dollars
- You’ll probably need good credit, or at least fair credit, to get a loan from the bank
- For better odds, you can talk to a representative at your bank who can explain what you’re likely to be approved for
1.2 SMS loans and payday loans
If you’re really desperate for money, you can apply for and take out an SMS loan or a payday loan. These loans are very risky and high interest – expect to pay as much as 400% interest on a loan. If you know for sure you’ll be able to pay your money off within a week or so, go for it. A $1,000 loan may end up costing you a net of around $20. But if it’s going to be a while, expect to pay a ton more interest than you ever received as a loan.
How do payday and SMS loans work? Well, you’ll fill out your basic info as well as provide your bank account numbers. When you’re “matched with a lender” you’ll receive anywhere from $300 to several thousand dollars. Then, when your loan comes due – usually in a week or two – the loan plus interest will be deducted from the bank account where it was deposited, automatically.
Be very careful! This can sometimes put you in overdraft! If your paycheck isn’t deposited into your account until 2 in the morning, and the loan company deducts your payment at midnight, that’s bad news bears. If possible, talk to your employer about receiving pay one day early.
- You don’t need a great credit score for an SMS or payday loan but you do need a stable income
- These loans are very risky and high-interest, so only use them as a last resort
- Be sure you’re familiar with when your payment will be deducted to avoid overdraft charges
1.3 Your friends
If you don’t have great credit, you always have the Bank of Buddies. Your besties can loan you cash when you’re desperate for money. There are a few things you’ll want to be mindful of, though. To most people these will be obvious, but we’ll go over them anyway.
First, be sure your friend has the money available to lend. If your buddy is as desperate for money as you are, she probably won’t have the cash to spare. That said, she may go out of her way to make it happen, putting financial strain on herself. Don’t be that friend.
Secondly, you’ve better make darn well sure you can pay your friend back. So many relationships have been broken because of money. You don’t want to lose your friend just because you couldn’t pay back a few bucks (or a few hundred).
If you keep those things in mind, feel free to ask your pals to spot you a loan for that down payment or that whiskey sour. Pay them back, and all will be well in the end.
- If you’re truly desperate for money, borrow from your friends
- Make sure your pal is in a situation where you can ask for money – if they’re broke too, it’s a no-go
- Always pay your friends back to avoid losing your relationship with them
1.4 Your parents
Just like there’s the Bank of Buddies, there’s also the Bank of MomandDad. Mom and Dad can be great resources when you’re desperate for money or just strapped for cash. And sometimes they’ll simply give you the money without expecting you to repay them!
Whether you need just a few dollars or a few hundred, don’t be scared to ask Mom and Dad. They want to see their baby succeed, and if that means loaning you a few hundred for that video equipment that’s going to make you a famous YouTuber, so be it.
Just as with anyone else, repay your loan. You don’t want damaged relationships with your parents. Also, be sure you decide whether you’d like to call in this favor now (is it really important?) or later (is the engagement ring you’re saving for more so?).
- Mom and Dad want to see you succeed, so don’t be afraid to ask them for cash when you’re desperate for money
- You may even receive the money as a gift, so don’t hesitate to ask
- If it’s a loan, be sure to repay your parents within a reasonable time – they’re not actually a bank and they’ve seen you in diapers
1.5 Your boss
As a last resort, if you need a larger loan you can ask your boss. If you have a good relationship with your employer, you can absolutely ask your supervisor to spot you cash until the next payday. They are guaranteed to get the money back, as they can simply deduct it from your paycheck.
Desperate times call for desperate measures, folks! Your boss should be a last resort only because asking him mixes personal and professional life in a way that’s a little close for comfort for some people. But if you do have a long-term relationship with your employer, he may very well be willing to spot you cash to tide you over until payday.
One note on this – we’ve unfortunately been witness to people who have gotten trouble for borrowing money from employers. Be sure you get everything in writing. Also, it’s probably best not to tell your coworkers, as there may be drama involved.
- As an absolute last resort, you can ask your boss for money if you’re desperate for cash
- Don’t tell your coworkers you’re doing this, as they may suspect favoritism
- Make sure you get everything in writing, from the loan to the repayment terms
2. Donating body “stuff”
Difficulty: Moderate
Resources needed: None
Credit required: No
Amount you’ll receive: $ – $$$
Get money today: Possible
If you’re up for it, you can earn money by literally donating parts of your body. That may sound gross, but it’s not as bad as it may seem. You can get cash the same day in the form of prepaid credit cards or over the long run via check or direct deposit.
Here’s how you can get money from your own body in not-so-gross ways.
2.1 Donate plasma
Donating plasma isn’t as painful or as yucky as it may sound. In fact, it’s similar to donating blood. You’ll be pricked with a needle – it’ll feel like a bee sting. Then, within moments the pain will subside and you’re on your way to becoming less desperate for money.
You’ll have to be 18 in most cases to donate plasma, but if you’re in an area suffering from a crisis those restrictions may be dropped to around 16. You will have to meet certain weight requirements as well; if you’re too thin they won’t let you donate plasma.
Your donation process will usually take around two hours to complete. At the end of your session, you’ll receive anywhere from $20 to $50 for your plasma. Not a bad payout for just a few hours of your time! What’s better is that the more you weigh, the more plasma you can donate. Some centers will pay you based on the amount of plasma you donate, and some will offer incentives if your plasma has antibodies that are in demand.
In short, when you’re desperate for money, donating plasma is an excellent way to go. You can donate anywhere from every three days to every 28, depending on the center.
- Donating plasma is relatively quick, painless and is not harmful to you at all
- You can be paid as much as around $300 each month donating plasma
- You’ll have to meet certain weight and age requirements to donate plasma, so check with your local center
2.2 Donate sperm
We’ll keep this one short but sweet. Yes, you can make money donating sperm. You know how sperm comes out of your body, and you’ll be granted a private room to make that happen.
Some people report earning as much as $1,000 per month donating sperm, so don’t rule this out as an option. However, there are some things you’ll want to consider before you do this.
- Your sperm will result in a child that has your DNA – you will not likely have access to or knowledge of that child
- You’ll need to meet certain health requirements to become a sperm donor
- You’ll likely need to supply pictures of yourself for people to browse – like a sperm catalog
- You’ll need to submit a sample before you’re approved to be a sperm donor
2.3 Egg donation
Egg donation is quite a bit more involved than sperm donation. First, you’ll have to be within a certain age range. Usually between 21 and 32 is acceptable, but that depends on the group you’re donating to. You’ll also need to be in good health – your donation will not begin until you complete a full physical exam.
In addition, you’ll need to be:
- A non-smoker
- Within a healthy BMI
- Cleared from a history of substance abuse
- Drug-free, including prescription meds for mental illness
- Menstruating regularly
There will be a host of other requirements as well, so think long and hard before you make this decision. As with sperm donation, a little person with your DNA will be running around out there someday soon, so be sure you’re okay with that before you donate your eggs.
3. Become a pawn king or a pawn queen
Difficulty: Moderate
Resources needed: Valuable Items
Credit required: No
Amount you’ll receive: $ – $$
Get money today: Yes
If you have anything of value just sitting around your home, you can be the next pawn king or queen. Just shine it up, put it in your trunk and bring it to your nearest pawn shop.
You’ve seen the shows on television, where people walk into pawn shops with a dusty old book and walk out with hundreds of dollars. It doesn’t really work that way. If you walk in with a dusty book they’ll probably tell you to donate it to your local library and to get lost.
But if you have gold, jewelry or other valuables, a pawn shop could become your best friend when you’re desperate for money.
3.1 Sell your gold and jewelry
Did grandma leave you a brooch that’s just not your style? Do you still have a necklace from your ex-ex-ex-boyfriend? If you’re desperate for cash, you can turn that jewelry into cash and be paid the same day.
The process is simple – just make sure your jewelry is looking its best and bring it to the local pawn broker. They’ll give you an offer, and you can accept it or decline it. Then, you’ll have about a month to pay back the loan before the pawn shop is allowed to sell your stuff.
In essence, the pawn shop is “borrowing” your gold with interest. You can still get it back, and in fact most pawn shops want you to. They’ll do everything in your power to help you get your items back because the interest you’re paying on your loan is guaranteed – sale of your items is not.
- If you have old gold and jewels, bring them to the pawn shop
- The pawn shop will quote you an offer that you can accept for decline
- You can still get your stuff back – just pay back your loan and the ring is yours again
3.2 Electronics
If you’re ever been to a pawn shop, you know that the electronics are super cheap. People are always wanting to sell – and buy – their electronics at pawn shops, and you can too.
Laptops are usually the most popular items at pawn shops when it comes to electronics. But if you’re desperate for money you can also get rid of your karaoke machines, strobe lights, speakers and televisions. Cell phones are also very popular items at pawn shops.
You can expect to get just a fraction of the amount you originally paid for your electronics, but it’s better than nothing! When you’re in a pinch, check out your neighborhood pawn shop as a way to get the money you’re desperate for.
- You can sell just about any type of electronics at a pawn shop
- Laptops and cell phones are popular, but you can also sell speakers, strobe lights and more
- As always, you can get your stuff back if you pay your loan back on time
3.3 Just about anything else
Pawn shops will take all sorts of stuff. They’ll buy antiques, power tools and will even give you a loan for the title of your vehicle. Whether it’s a car, truck or moped, you can get cash for the title of your vehicle – and still drive it daily.
If you have any questions about what your pawn shop will buy, it’s really simple to find the answer. Just visit a pawn shop! Check out what they’re selling and how much they’re selling it for. Then, take markup into account and figure out what you’d like to bring in for sale at the pawn shop.
Whether it’s a microwave or a hadron collider, the pawn shop is a great resource to tap into when you’re desperate for money.
- You can pawn just about anything, from microwaves to cars
- If you have any question, just visit the nearest pawn shop to see what they buy and sell
- You can also get a good idea for how much money you’ll get for your items when you visit a local shop
4. Get paid in advance
Difficulty: Difficult
Resources needed: Varies
Credit required: No
Amount you’ll receive: $ – $$$
Get money today: Possible
Do you have a side hustle or a gig that gives you money from time to time? Well, if you’re desperate, you can get money today simply by asking for payment upfront. Just think about it. A lot of businesses ask for payment upfront, right? Why shouldn’t you?
There are a number of businesses you can begin if you don’t have one already. We’ll talk about those below. Choose one to excel at and build up your trust reputation. Then, you can feel free to ask for payment upfront. At the very least, you can provide a service for half upfront payment, half when the job is completed.
4.1 Shop for people
Do you have a great sense of style and a knack for reading minds? A personal shopping business might be right up your alley. You can choose to shop for individuals or for a corporate office. That just depends on your interest.
Now, getting paid upfront for this job is actually relatively easy. After all, you can’t be expected to pay out of pocket then be reimbursed for it later, right? Especially when we’re talking about huge companies who want expensive furniture and electronics in the office.
So you’ll ask for the credit line info or for cash. Let your employer know that you’re going to be taking either a flat fee or a percentage commission – however you want to charge. Then pocket that money right away. Easy as that.
Be sure you have a contract in place before you begin any shopping business – you don’t want any unnecessary legal issues.
- You can choose to shop for individuals, small businesses or larger companies
- Clothes, furniture and even groceries are options for your personal shopping business
- You can be paid with commission or a flat rate – but it’s easy to get that payment upfront
4.2 Housekeeping
If you don’t mind cleaning up after people (and some people are pretty messy) you can be a house cleaner. Charge by the hour or by the job, and collect your payment up front.
Some people think that you’ve got to be very desperate for money to become a house cleaner. However, for some people it’s quite therapeutic! Making the things that were once grimy clean again can be an exercise in relaxation – just try it!
Put your name out there with apartment rentals and other companies, then start cleaning. Note that this isn’t really a job for a “half upfront” deal, but you can certainly charge a booking fee or ask for full payment at time of service.
- If you don’t mind a little dust (and other people’s toilets) you can make money cleaning houses
- Charge a booking fee, or charge upfront if you’re really desperate for money
- Be sure to market yourself – there are many house cleaner out there and you’ll need a reputation before you get solid, long-term jobs
4.3 Dog walker
This is another short but sweet one. Not everyone loves dogs, but if you’re in the group that does or are just desperate for money, you can take the animals out to poop and walk every day.
Okay, so it’s not for everyone. But if you don’t mind a bit of feces under your fingernails and the smell of wet dog, you can absolutely be a dog walker. Charge your clients by the month and ask them to pay upfront. You can make a bunch of money this way. For instance, five dollars to walk them once each day at noon for the month would equate to around $150 … per dog. Nothing’s saying you can’t walk more than one!
If you want to become a dog walker it’s probably best if you don’t have a criminal history. You’ll be given keys to these folks’ homes, and they’ll likely run a check on you. It’s also best if you don’t mind a bit of weather. Dogs need to poop whether it’s sunny or not.
- Dog walking isn’t for everyone, but if you don’t mind the animals this is a great way to get some extra cash
- You’ll have to be both an animal lover and a weather lover to take on this gig
- Be sure your criminal background check comes clear before you apply for this job
4.4 Rent out your room – or use your imagination
As you can see, there are many ways you can get money if you’re desperate. Most of the methods we’ve listed will give you cash the same day or very soon. However, if you’re looking for a more long-term solution to a cash crunch, there are other ways you can earn a few bucks to sustain you.
You can:
- Rent out your room and move in with a friend. Make sure this is okay with your landlord!
- Rent out your second car, if you have one. You can earn hundreds doing this.
- Have an advertising wrap put on your car and earn a few hundred each month.
- Cut back on your bills – do you really need unlimited data?
- Make your coffee at home. You have no idea how much that coffee shop is costing you – just add it up!
- Build a fund for emergencies to keep you from getting in this situation again.
Conclusion
If you’re desperate for money, you have options! Whether you choose to visit the pawn shop or the Bank of MomandDad, you can get yourself out of the pickle you found yourself in.
We do recommend that, in the future, you have a savings account you can rely on to rescue you if you’re in a pinch. But in the meantime these methods will keep you on your feet and ready for anything that comes your way.
