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Need Emergency Cash Immediately? Best Ways to Get It

June 10, 2024

We’ve all been there. You have a medical emergency, an unexpected car repair, or simply bills are due and there just isn’t enough money to cover them, leaving you in dire need of quick cash. It’s a stressful situation. You feel anxious, helpless, and desperate to find any way to cover expenses until payday.

If you have less-than-perfect credit, it’s even harder to get fast cash. But nothing’s impossible. To address this predicament and give you a financial boost until payday rolls around, we’ve compiled a list of resources you can rely on to secure emergency cash when you need it most.

1. Take Out a Personal Loan

If you need a larger sum of money, a personal loan could be a viable option. While traditional banks and credit unions offer personal loans, online lenders have become increasingly popular. Some lenders can even finance a personal loan in a day! If you have bad credit, be prepared to pay higher rates but you will be able to find fast funding.

2. Cash Advance Apps

More and more cash advance apps are popping up specifically designed to help people access quick cash. Apps offer cash advances or short-term loans with low or no fees and no credit checks.

They connect to your bank account and use algorithms to determine how much money you can borrow based on your income and spending habits. Then offer instant cash often up to $250 or even $500.

3. Sell Your Stuff

Take a look around your home and see if there’s anything you don’t use anymore but could sell for some quick cash. There’s a market for everything: old electronics, jewelry, vintage clothing, outdated appliances, you name it.

You can sell them online through platforms like eBay, Craigslist, or Facebook Marketplace. If you need money even faster, consider pawning your valuables or participating in local auctions or pawn shops.

4. Credit Card Cash Advance

If you have a credit card with available credit, a cash advance can provide quick access to cash. It’s basically a short-term emergency loan. You withdraw cash from an ATM or visit your bank to get an advance.

Keep in mind that credit card cash advances often come with higher interest rates and fees (3% to 5%) compared to regular card purchases.

5. Ask For a Payroll Advance

If you have a good relationship with your employer, ask for an advance on your salary. It’s not a loan, so it doesn’t come with any fees or interest and you repay it via payroll deduction on your next paycheck.

Explain your situation honestly and propose a repayment plan. Many employers are willing to help their employees during times of financial hardship. Some even offer low-cost loans for financial emergencies

6. Gig Jobs for Quick Cash

A lot of gig jobs pay you daily and the more effort you put into it, the more money you’ll make. The work is generally flexible; you get to make your own schedule. Work evenings and weekends or whenever you’re free.

Plus most gig workers earn more than minimum wage! There are plenty of gigs to choose from; be a delivery driver, a tasker, a grocery shopper. So find one that suits your skill sets and earn that extra cash.

Talk to a Credit Counselor

Credit counselors from nonprofit credit counseling agencies are a great resource. These people are trained in money management. They can help you create a budget, figure out how to cut expenses, and learn how to pay down debt. Credit counselors can negotiate with creditors and set up a debt management plan to get you out of debt faster and more efficiently than on your own.

A debt management plan (DMP) still means you have to pay your debt, but usually for less. The credit counselor will try to lower interest rates and waive fees to make repayment more manageable. You also will only have to make one payment per month. The credit counselor will then distribute the money to all your creditors according to their agreed upon schedule. This makes DMP an easy way to consolidate debt without taking out a loan or balance transfer credit card.

If you’re overwhelmed by debt, constantly in need of money, or just can’t budget, talking to a credit counselor can be a good place to start. They may be able to put you on the right tack for your financial future.

Build an Emergency Fund

An emergency fund is a financial safety net that can help you avoid the stress of needing immediate cash during unexpected situations. This fund is specifically set aside for urgent expenses like medical emergencies, car repairs, or sudden job loss. Most experts recommend having three to six months worth of living expenses in an emergency fund. That way you don’t have to take out a loan next time unexpected expenses pop up.

To build an emergency fund, start by assessing your monthly expenses and determine a comfortable savings goal. Once you have your goal, it’s time to figure out how to make it a reality.

1. Create a Budget
You’ve figured out how much you want to save, now it’s time to figure out how to do it. Start by creating a budget. One popular budgeting method is the 50/30/20 method.

  • 50% of your income goes to necessary expenses
  • 30% of your income goes where ever you want
  • 20% of your income goes into savings and repaying debts.

It’s important to save up for an emergency fund even if you’re repaying debts.

First list all your expenses. Break them down into necessary expenses – rent, groceries, utilitites, etc and unnecessary expenses – eating out, entertainment, shopping. Then see where you can cut back. Maybe you can switch to a cheaper phone plan or cut down to one streaming service? Maybe there are subscriptions you forgot about and no longer use?

Put any extra money towards your emergency fund.

One last note on budgeting, be sure to give yourself some fun money to do what ever you want with. If you’re too draconian in your budgeting you’ll never stick with it.

2. Automate your savings
The easiest way to save is to not have to think about it. Most employers offer direct deposit, in fact most prefer it. Direct deposit sends your paycheck directly into your bank account – sometime even early.

One huge benefit is you can choose to send a portion of your paycheck into a savings account. That way you never see the money and so are never tempted to spend it. Out of sight and out of mind.

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3. Open an account that pays you back
Regular savings accounts at big banks barely pay any interest. Luckily, there are alternatives. More and more online banks are offering high yield savings accounts that pay 4% to 5% APY (annual percentage yield). Open one of these accounts and watch your money grow.

You have to keep your money in the high yield savings account and not touch it to really reap the benefits of a compound interest.

4. Save unexpected income
Add any unexpected income to your high yield savings account. Tax refund, cash gift, inheritance, anything at all goes directly into your savings account. It can be tempting to spend it on yourself as a treat but the peace of mind that comes from having an emergency fund will make these savings worth it in the end.

5. Gradually increase your savings
Get a raise at work? Increase how much you’re automatically saving. Take on a second job? Send part of that income into your savings account as well. The more money you can put into your savings account the more you will benefit from a high interest rate.

Experts recommend saving 10% to 15% of your income each month. Don’t set it and forget it. See if you can gradually increase how much you put away.

Having a robust emergency fund can provide peace of mind and financial stability, allowing you to handle unforeseen expenses without resorting to high-interest loans or credit cards. Start small, remain consistent, and watch your emergency fund grow, offering you a crucial financial cushion for life’s unexpected events.

Frequently asked questions

1. How do I get urgent cash?

If you need urgent cash, consider options like borrowing from friends or family, selling unused items, or taking on a temporary gig. You can also explore payday loans or cash advances from credit cards, but be cautious of high interest rates. Additionally, some employers offer paycheck advances, and local charities or community organizations may provide emergency assistance.

2. How can I get money immediately?

To get money immediately, you can sell unused items, offer services like babysitting or freelancing, or ask friends or family for a loan. Avoid payday loans whenever possible. Instead, look into cash advance apps. These apps will advance you a portion of your earnings early with few to no fees or interest. Credit card cash advances are another option if you have a card but they come with high interest rates and fees.

3. How can you borrow $500 quickly?

To borrow $500 quickly, consider asking friends or family, using a cash advance app, or taking out a credit card cash advance. You can also look into peer-to-peer lending platforms or online personal loan providers. Many of these offer fast approval and funding with lenient criteria. Always check interest rates and fees to make sure the loan is affordable. Local credit unions might also provide small emergency loans with more favorable terms.

4. How can I get instant money if I’m in need?

If you need instant money, sell unused items, offer services like babysitting or freelancing, or ask friends or family for a loan. Consider payday loans as a last resort. Credit card cash advances can give quick cash, but be cautious of high interest rates and extra fees. Ask your employer for an advance. If they don’t do paycheck advances, look at a cash advance app that does. Another option is to find a local charity that provides emergency funds.

The Bottom Line

Emergencies can be financially devastating and incredibly stressful. Fortunately, there are several ways to get your hands on quick cash when you need it most.

If you don’t have an emergency fund, don’t despair. Start by checking if your credit card offers a cash advance, which can provide immediate funds, albeit with high interest rates. Another option is to see if your employer can provide an advance on your paycheck. Many companies have programs in place to help employees in urgent financial situations.

Even if you have bad credit, there are still options available. Cash advance apps have become popular for providing small, short-term loans quickly. For those who need a bit more, personal loans designed for individuals with less-than-perfect credit can be a viable solution. These loans often come with higher interest rates, so it’s important to understand the terms before committing.

If you find yourself needing a little extra cash each month, it might be time to consider taking on a side hustle. This could be anything from freelance work, driving for a rideshare company, or selling handmade goods online. These additional income streams can help you build a buffer for future emergencies and provide financial stability.

Do you continuously need a little extra each month? Maybe it’s time to take on a side hustle to help make ends meet. Whichever way you go, these options can provide you with the financial lifeline you need during tough times.

1. Paycheck Advance is For eligible customers only. Your actual available Paycheck Advance amount will be displayed to you in the mobile app and may change from time to time. Conditions and eligibility may vary and are subject to change at any time, at the sole discretion of Finco Advance LLC, which offers this optional feature. Finco Advance LLC is a financial technology company, not a bank. Expedited disbursement of your Paycheck Advance is an optional feature that is subject to an Instant Access Fee and may not be available to all users. Expedited disbursements may take up to an hour. For more information, please refer to Paycheck Advance Terms and Conditions.
2. Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC, and Cross River Bank, Member FDIC. The Current Visa® Debit Card is issued by Choice Financial Group pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Current Visa® secured charge card is issued by Cross River Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your Card for its issuing bank. Current Individual Account required to apply for the Current Visa® secured charge card. Independent approval required.
3. Individual results may vary. Using your credit card responsibly may allow you to improve your credit score. Credit building depends on various factors, including your payment history, credit utilization, length of credit history, and other financial activities.
4. Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct deposit and earlier availability of funds is subject to timing of payer’s submission of deposits.
5. Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group. Funds held in Savings Pods are FDIC-insured on a pass-through basis up to $250,000 at our partner bank Choice Financial Group, member FDIC
6. Actual overdraft amount may vary and is subject to change at any time, at Current’s sole discretion. In order to qualify and enroll in the Fee-Free Overdraft feature, you must receive $500 or more in Qualifying Deposits into your Current Account over the preceding 30-day period. For more information, please refer to Fee-free Overdraft Terms and Conditions.
7. You may earn Points in connection with your everyday spending and by completing other actions that Current designates as subject to the Current Points Program. The amount of Points granted for different actions as well as the purchase requirements necessary to earn Points will vary, and is subject to Current’s sole discretion. After qualifying, please allow 3-5 business days for points to post to your Current account. The Current Points program is not available to Teen Account holders. See Current Points Terms and Conditions.
8. Some fees may apply, including out of network ATM fees of $2.50 per transaction, late payment fees of 3% of any total due balance outstanding and past due for two or more billing cycles, foreign transaction fees of 3% of the full transaction amount (minimum $0.50), card replacement fees per card of $5 for regular delivery and $30 for expedited delivery, cash deposit fees of $3.50 per deposit, and third party processing fees.
9. Boost Bonuses are credited to your Savings Pods within 48 hours of enabling the Boost feature and on a daily basis thereafter, provided that the Savings Pod has accrued a Boost Bonus of at least $0.01. The Boost rate on Savings Pods is variable and may change at any time. The disclosed rate is effective as of August 1, 2023. Must have $0.01 in Savings Pods to earn a Boost rate of either 0.25% or 4.00% annually on the portion of balances up to $2000 per Savings Pod, up to $6000 total. The remaining balance earns 0.00%. A qualifying direct deposit of $200 or more is required for 4.00%. No minimum balance required. For more information, please refer to Current Boost Terms and Conditions.
10. Cryptocurrency services are powered by Zero Hash LLC and Zero Hash Liquidity Services LLC, and may not be available in all states. Terms and conditions apply. When you buy or sell cryptocurrency, a difference between the current market price and the price you buy or sell that asset for is called a spread. However, unlike most other exchanges Current does not charge an additional trading fee. Cryptocurrency transactions are a form of investment, and all investments are subject to investment risks, including possible loss of the principal amount invested. Cryptocurrency is not insured by the FDIC or any other government-backed or third-party insurance. Your purchase of cryptocurrency is not a deposit or other obligation of, or guaranteed by, Choice Financial Group or Cross River Bank. The cryptocurrency assets in your Zero Hash account are not held at Current, Choice Financial Group, or Cross River Bank. Current, Choice Financial Group, and Cross River Bank are not responsible for the cryptocurrency assets held in any Zero Hash account. Neither Current, Choice, nor Cross River Bank is involved in the purchase, sale, exchange of fiat funds for cryptocurrency, or custody of the cryptocurrencies. Terms and Conditions apply (platform and user agreements). Crypto on Current is not currently available in HI. Licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. This does not constitute investment advice.
11. Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group. Your money is FDIC-insured on a pass-through basis up to $250,000 at each of our partner banks, Choice Financial Group and Cross River Bank, members FDIC.
12. Average value based on Fine Hotels + Resorts bookings in 2023 for stays of two nights. Benefits include daily breakfast for two, room upgrade upon arrival when available, $100 amenity, guaranteed 4PM late checkout, and noon check-in when available. Certain room categories not eligible for upgrade. $100 amenity varies by property. Actual value will vary based on property, room rate, upgrade availability, and use of benefits.
13. Up to $500 per Covered Trip that is delayed for more than 6 hours; and 2 claims per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
14. The maximum benefit amount for Trip Cancellation and Interruption Insurance is $10,000 per Covered Trip and $20,000 per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
15. Baggage Insurance Plan coverage can be in effect for Covered Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier Vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one- way or round-trip) is charged to an Eligible Card. Coverage can be provided for up to $2,000 for checked Baggage and up to a combined maximum of $3,000 for checked and carry-on baggage, in excess of coverage provided by the Common Carrier. The coverage is also subject to a $3,000 aggregate limit per Covered Trip. For New York State residents, there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
16. Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
17. Coverage for a Stolen or damaged Eligible Cellular Wireless Telephone is subject to the terms, conditions, exclusions, and limits of liability of this benefit. The maximum liability is $800, per claim, per Eligible Card Account. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per Eligible Card Account per 12 month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
18. When an American Express® Card Member charges a Covered Purchase to an Eligible Card, Extended Warranty§ can provide up to one extra year added to the Original Manufacturer’s Warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
19. Purchase Protection is an embedded benefit of your Card Membership and requires no enrollment. It can help protect Covered Purchases made on your Eligible Card when they’re accidentally damaged, stolen, or lost, for up to 90 days from the Covered Purchase date. The coverage is limited to up to $10,000 per occurrence, up to $50,000 per Card Member account per calendar year. Coverage Limits Apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
20. Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
21. The secured Chime Credit Builder Visa® Card is issued by Stride Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.
22. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.
23. The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of September 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.
24. There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.
25. To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Chime Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
26. Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.
27. Based on a representative study conducted by Experian®, members who made their first purchase with Credit Builder between June 2020 and October 2020 observed an average FICO® Score 8 increase of 30 points after approximately 8 months. On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score.
28. On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.
29. Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
30. SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your Visa debit card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions.
31. Tipping or not tipping has no impact on your eligibility for SpotMe®.
32. Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
33. Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account.
34. Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your savings account.
35. Mobile Check Deposit eligibility is determined by Chime in its sole discretion and may be granted based on various factors including, but not limited to, a member’s direct deposit enrollment status.
36. Funds are automatically debited from your Checking Account and typically deposited into the recipient’s Checking Account within seconds. Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed.
37. Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed. Non-Chime members must use a valid debit card to claim funds.
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About the author

Rachel Alulis

Rachel Alulis has been the lead editor for Moneyfor’s credit cards team since 2015 and for the financial rewards team since 2023. Before joining Moneyfor, Rachel worked at USA Today and the Des Moines Register. She then established a successful freelance writing and editing business specializing in personal finance. Rachel holds a bachelor’s degree in journalism and an MBA.

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