What do you do when you’re in desperate need of quick cash? Well, in 2023, there are quite a few ways for you to overcome this problem. While a lot of guides may suggest that you should self-publish a book on Amazon Kindle Direct Publishing, the truth is that this will take quite a bit of time. Even if your stories are amazing, the majority of authors agree that you’ll start seeing some profits only after you’ve published 20-30 of them. So, while a viable method, we can safely rule it out as something quick. With that in mind and without further ado, here are the top 10 easy ways to make money quickly.
- Find a Gig
A gig is not the same thing as a part-time job. It’s virtually a task that you can find on a platform like Fiverr and get paid for it. The task in question could be making a diagram for someone, doing a voiceover of a text, or even playing a few Hearthstone games against someone. The key thing is that you need to be cost-efficient with the tasks. So, look for the tasks that you can do in the shortest amount of time.
- Borrow From Friends and Family
One of the first things that a lot of people do is ask their friends and family members for support. There are a few downsides to this. First of all, if it’s a temporary setback, you may feel ashamed of asking for money. They might also be in a tight spot and, therefore, unable to help you. Just make sure that you’re not too comfortable with this loan, seeing as how there are no formal terms. You still need to pay them back.
- Payday Loans
As their name suggests, payday loans are loans that you’ll repay as soon as you get your next salary. The problem with these loans is that they usually have a 300% to 500% APR. However, they don’t ask for your credit score (not even a soft credit check). The sum is also not that high, which means that even though the interest rate is high, you don’t end up paying that much.
- Sell Jewelry
If you have some jewelry at hand, it might be best for you to sell it to resolve the problem. Sure, a loan is a great solution if you can expect your income in the nearest future to settle the debts, however, what if your luck doesn’t turn around anytime soon? Also, while often hard to swallow, selling is almost always better than pawning. Let’s say you’re Arizona-based, finding the best place to sell jewelry in Phoenix is a lot easier than just relying on your local pawnshop.
- Sell an Invoice
Another thing you can do is sell an invoice. You see, sometimes it will take days for the money to arrive. Factoring companies are known for buying incoming payments. They usually offer 95% of the total price, paying 70-90% in advance and the rest when they collect. Keep in mind that this is a great solution seeing as how it puts the whole thing to rest. No, you don’t have to repay anything and you’re treating an invoice like an asset that you own and are now selling.
- Hire a Debt Collector
Sometimes, you already have debts that people are just not paying back. Perhaps you’ve lent money to someone while you were in a better spot (financially) and now the tables have turned. You may be too nice or too proud to ask for your money back. You might be so proud that you’re ready to take a loan of your own rather than just ask for your money back. If that’s the case, the simplest solution for you is to just hire a debt collector and be done with it.
- Do a Paid Survey
Contrary to popular belief, you need to invest a lot of time in paid surveys in order to make a substantial amount of money. Also, the majority of survey sites/apps have a minimum earnings threshold that you need to meet in order to be able to withdraw the money. Our advice to you is, no matter how much of a rush you’re in, take some time to study the specifics.
- Sublet Your Home
If you own a home, you can rent out a room to a visitor. It doesn’t even have to be a real tenant; it can be an Airbnb-like situation. You just rent out the place for a short stay and get paid. Not only will this provide you with the money you need the quickest, it also won’t introduce any long-term changes to your lifestyle.
- Find an Offline Gig
An offline gig like housesitting for someone, pet sitting, or cleaning someone’s place can get you paid in hours and days instead of weeks and months. Most importantly, the diversity of tasks in demand is such that you can relatively easily find something that you’ll be comfortable with. You can even afford to be picky if you choose to.
- Sell Things
You don’t have to sell jewelry. You can always list a couple of things online or even start a garage sale. There’s a fortune to be made out there selling books but if you feel like decluttering at the same time, you can go even further. You can even make money selling old CDs and old cables.
It all comes down to two questions:
- How much money do you need?
- How quickly do you need it?
Sure, doing a paid survey or spending a couple of days on Fiverr is a great idea if the amount of money you need is measured in dozens or even low three figures. If you need more, selling jewelry, getting a payday loan, or borrowing money from family members and friends is the way to go.
The most important thing is that you recognize whether this is an isolated scenario or something that might happen again. With more time on your hands, you can reform your household finances, find a side job or reduce your liabilities. Still, for the time being, this method might make all the difference in the world.