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5 Options When You Need Money Now

need money nowUnfortunately, there are times when you absolutely need money now and your bank account is empty. Should you have been putting money into your savings account each and every month, padding an emergency fund for instances just like this? Of course. But did you? Again, unfortunately not. You need money now, you don’t have it, so you’ve simply got to find the best option to get it.

5 Options When You Need Money Now

Before you go out and try one of these five options, you have to promise me something – that you’re going to change your ways. Sure, it can be hard to save money when you don’t make a lot, but that’s no excuse to be broke for the rest of your life. If you make less than $30,000 per year at your job, you simply have to figure out how to make more.

Maybe you’ll have to put some money into your education to get promoted or to get into a different field. Or maybe you just need to start a business on the side to create some extra revenue (Related: 101 Ways to Make More Money). Who knows? Maybe it’ll even generate enough money so you don’t need a job anymore! But, at some point, you’re going to need to learn to live within your means. Promise that you’ll change your ways after this one last fix? Okay, read on.

1) Sell What You’ve Got

I was once in a position where I needed to come up with $22,000 in a short span of 6 months. It was time for me to get radical to find this money that I obviously didn’t have.

Where did I start? With my biggest asset – my car. It was worth about $7,000 and I owned it outright. By selling it and picking up a $2,500 Honda Civic, I quickly put $4,500 toward my debt (and by the way, I held onto that car for three more years because it never let me down!).

Beyond selling the car, I sold everything else I could find – a juicer, some baseball cards, wall hangings, everything! Heck, if you don’t sit on the furniture in your living room much, sell that! When you need money now, sometimes the most effective method is to sell some stuff…and fast!

2) Ask For a Handout

Instead of saying, “get a loan from a friend”, I would ask for a monetary gift. Obviously, I would recommend that you pay back the money, perhaps even with interest, but in the event that you never get around to paying the money back, the friendship might remain in tact still. After all, they gave you the money assuming that you would never pay them back anyway. Granted, this method might be a little less effective, but it’s better than losing a very close personal friend! If you need money now, asking for a few handouts might just get you through.

need money now3) Get an Unsecured Loan From the Bank

You need money now and there is absolutely no way for you to conjure up the money on your own, and your friends don’t have a dime to lend you either. It might be time to head to the bank and ask for an unsecured loan. This can be tough to get these days, but it can still happen. The interest rate will likely be a lot higher than if you were to get a car or boat loan, but if you need money now and will have the means to pay off the loan at a later date, it might just be your best option.

4) Use a New 0% APR Credit Card

I’m not a huge fan of using credit cards to get out of a financial bind, but if your situation is temporary and you are confident that you can pay off the balance within 6 months or so, then one of those 0% APR credit cards can come in extremely handy. Load it up with the amount you need, and then tackle that debt with extreme ferocity! I don’t care if the interest will stay 0% for an entire year. I want you to pay off that credit card as soon as possible, because then you can build up that emergency fund that you promised me!

5) Look Into a Title Loan

car title loan is yet one more way to get cash fast when you absolutely need money now. Title loans operate a little bit like the pawn shop model. You present your car, they tell you how much it’s perceived to be worth, and they’ll give you that amount. You’re then expected to come back within a determined time to pay back the loan amount plus interest. If you don’t, then they get your car.

Title loans are definitely a way to get money fast, but I would highly recommend that you have a plan in place to earn that money back well in advance of that “drop dead date” when you’re expected to pay that money back. Losing your car is never good. It can impact your job, which can impact your paycheck, which can put you in an even worse situation.


To put it bluntly, if you need money now, then you made a mistake. You either haven’t been saving enough, you have too many toys, or you had inadequate insurance. Your boat is sinking. Bail out the water as fast as possible and then be sure to plug that hole so you never have to frantically bail water again! Make a financial plan, build up an emergency fund, and enjoy the stress free life once it’s in place.

Are you in a situation where you need money now? How to you plan to get out, and what are you doing to make sure it won’t ever happen again?



My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.

1 Comment

  1. Those a are good temporary solutions. Didn’t know about Title Loan beofore – thanks fore haring! P2P lending may also be a good place to get a loan.
    But yes the long-term solution is start budgeting and living within the means.

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