Unexpected expenses are a part of life. If you find yourself in need of some fast cash to cover an expense or get you to your next payday, consider one of these four options.
1. Payday Loan
Ontario payday loans are a short-term financing option available to most borrowers who are over the age of 18, have a full-time job, a valid bank account, and are not in bankruptcy, regardless of credit. Two weeks is the typical repayment term; however, terms of up to 60 days may be available. The benefit of this option is that these loans are usually easy to qualify for and the approval process is fast. Many borrowers can receive same-day approval with no credit check. The downside is that this is one of the more expensive credit options.
2. Cash Advance
If you have a credit card, you may be able to get a cash advance. With a cash advance, you can withdraw money, up to your cash advance limit, from an ATM using your credit card. This allows you instant access to the money you need; however, the interest rate charged on these advances is usually higher than the regular interest rate on your card and there may be an additional cash advance fee. The amount you withdraw will be added to your credit card balance and must be repaid per the terms of your credit agreement.
3. Sell Something
If you have any personal property with significant cash value that you can part with, you can sell it for quick cash. If you need money immediately, you may want to consider selling to a pawnbroker. If your item has value, they will likely pay you immediately; however, since they need to turn a profit, you will not receive the full market value of the item. If you can wait a few days, you can try selling your item on an online auction site or marketplace or have a yard sale. This method is less reliable, because you may not find a buyer, or in the case of an online sale, your buyer may not come through with the promised payment.
4. Odd Jobs
Try posting an ad locally to do jobs for people in exchange for cash payment. Services you might offer include babysitting, pet sitting, dog walking, or lawn mowing.
If you find yourself suddenly short of cash, do not panic. There are lots of ways to legitimately make some quick cash to tide you over until payday.