9 ways to get cash fast when you have desperate urgent need of money

Here are 9 different ways to find cash quickly if you are ever in a desperate situation where you have a burning need for cash urgently
9 ways to get money quickly when in desperate urgent need of money

We have all been in that situation where we need money very urgently and there is just none lying around. You either did not have any saved up or you have the money saved up but it is locked up in FD and mutual funds that carry steep penalties for withdrawing them.

Payday loans are not the only way to get cash at once. Here are 9 ways you can start getting money on short notice when you are desperate in need of it. These are not the best ways to get money, mind you. These are not the cheapest way either. The purpose of this list is to only help you out when you are in a desperate and urgent situation.

9 ways to get money fast when in need

Friends, Family or Father-in-law

This should be the first option for anyone who is in need of money. If you need urgent cash, check with your friends or family if you could borrow some from them for a short or long term. If they have excess money they will definitely help you. Also don’t cheap out and leverage your friendship or relationship for interest free money. Offer to pay them a nominal interest. If not the high market rate, at least insist on paying what the bank pays them if they were to keep it in the bank.

And make it a point to pay back the money you borrowed, if not you are burning down a good relationship.


Pawning stull is another great way of getting money needed quickly. It is not the cheapest as the interest rate is pretty high. Higher than personal loans and lower than credit cards in most places. Here is a list of things you could consider pawning:

–       Gold

–       Watches

–       Antiques

–       Silverware

–       Land or property documents

–       Car or other motor vehicles

Pawning is quick and you could have the money almost immediately. Once you have the cash again, you can pay back the pawn shop with interest to redeem your items.

Sell stuff

Next to pawning, you could also consider selling the stuff you have and don’t need. Organize a garage sale. If you have a tonne of books you no longer read thanks to Jeff Bezos and his Kindle, then look at selling them. Look at selling old clothes or shoes you no longer need. Accessories and tech gadgets. The Gameboy maybe outdated for you and rotting in your storage, but someone could still use it.

Personal Loan

Better than pawning, credit cards and payday loans. However personal loans take a bit of time. Depending on your credit score and region, you could have the money from a personal loan in 2 hours to 2 weeks.

If you foresee any shortage of money or a situation you will need money in the future on short notice, sign up for a service such as Money Tap, ET Money or Walnut Prime. They first assess you and give you a credit limit. When you need the money, they will allow instant disbursement of loans, and you pay interest only for the amount you use from the time you take the loan. Pretty useful to have.

Credit Card

The next go to option to get money at once. Credit cards are great to make online payments when you do not have any money or need something urgently.

Keep in mind, withdrawing cash from a credit card is downright stupid. There is a tonne of charges and interest is horrible. Instead, check with your card provider on if they give a loan against credit limit. Most banks do this and will be able to transfer the cash to your bank account in a short time and for an interest rate lower than your credit card.

Salary in Advance

This is one of the easier and less worrying options. If you have a job and need urgent cash, you should not first think of emergency loans, payday loan or short term cash loans. Instead, check with your employer if they can give you a salary advance. This means, you get the next month’s salary today.

Most employers will allow this. Some employers also have schemes to help staff with loans at nominal interest. Explore these options.

Cut costs

This is not a way to get money directly. Instead, a great way to get money is reduce expenses in the first place. If you are desperate in need of money, perhaps you can live without Netflix for a month. Bam. Instantly you have got $10 now!

Look at all financial areas of your life which is taking up your cash. This could be loans, home expenses, lieasure activities that such up money fast, other people etc. Try to reduce and cut back on them. Negotiate and bring down expenses. Here are 7 easy ways to save money.

AirBnB or roommates

Living alone? Have a spare room? Consider letting out to AirBnB or even getting a room mate. This is a some what quick option and depending on your living quarters and location you would have some money soon.

Rent your car

Have a car? There are plenty of services that allow you to make cash by renting out your car. In India, Zoomcar takes your car on rent and allows others to hire the car. You get a big portion of the hourly income on the car. Explore this option to start monetizing your vehicle.

Maybe not on emergency, but here are some ideas to earn money on the side as rent.

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Abhi is a 29 yr old Indian, on FIRE to retire by 40. He has been investing and learning Finance for the past 12 years. After completing Mechanical engineering, he started working in a multi-national Bank and grew to become an AVP. Currently with an IT MNC as a VP. He lives in Bangalore with his wife and their 1 year old daughter. In his free time, Abhi loves to game on the Xbox, watch movies, read and blog.

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