Whether its a problem with the car or an unexpected dental emergency, most people will, sooner or later, find themselves in a tight spot due to a temporary lack of available cash. Searching behind couch cushions and in jacket pockets may turn up a few bucks, but for most situations this amount is rarely enough to help. If you find yourself in a cash crunch, here are four possible ways to find the money you need fast!
One: Turn Your Old Smartphone Into Cash
Personal electronic gadgets become outdated almost as soon as we get them and many of us are guilty of pushing the old model into a desk drawer or cupboard and forgetting that it may still have value. In fact, smartphones, e-readers, tablets and other personal electronic devices are easy to resell and, in some cases, worth a surprising amount of money. The most valuable ones will be those that still work and have few or no blemishes. Many of the wireless carriers and big box retail stores have buy-back programs, as well as several online businesses that specialize in purchasing gently used electronics.
Two: Become a Plasma Donor
While you can not actually sell your plasma, you can donate it and receive compensation for your time. Plasma donation can be done twice per week, as long as there is at least one day in between donations, and may result in a compensation of as much as $60 per donation, making it an easy way to earn enough to help with an unexpected cash flow emergency. Before deciding to donate plasma, however, make sure you take time to understand the risks and requirements of the process.
Three: Use Your Overdraft Protection
Writing a check without sufficient funds in your account is not the best plan for financial security, but if your checking account has overdraft protection and you will definitely be able to make a deposit to cover the insufficiency within a day or two, it may be a viable option in an emergency. If you decide to use this option, you must understand that your bank will charge a substantial insufficient funds fee, so make sure to cover the overdraft and fee amount as quickly as possible with a deposit.
Four: Obtain a Cash Advance
While cash advances should never be used for trivial purchases or as an everyday funding source, they do offer a way to obtain instant cash when you really need it. When opting for a cash advance or payday loan, seek out a reputable provider and ask them to go over the terms of the loan and your repayment obligations with you. Although these loans can be renewed, you should make every effort to pay them off quickly without having to renew so that you do not incur additional charges. Contact a company like Cash Depot Inc. for more information.