17 legitimate ways to get money fast

Sometimes you need a few more dollars than you have in your bank account, whether because of an unexpected expense or a financial emergency. According to Bankrate’s Financial Regret Survey, two in five Americans regret not saving enough for emergencies.

Fortunately, there are many reliable ways to get cash quickly without resorting to high-risk options that could jeopardize your financial future. From tapping into your existing resources to exploring innovative financial tools to trying gig work, we’ll cover 17 legitimate ways to get money fast.

How to get money fast

If you’re trying to get money fast, focus on strategies that help you bridge your financial shortfall without consuming much time or involving a lot of risk. These 17 top strategies do just that.

1. Sell something

If you have unused items sitting around your house collecting dust, you could turn them into cash.

Whether you have old electronics, collectible items, furniture, household equipment or clothing, you can list items for sale on many online marketplaces, such as Craigslist, eBay, Poshmark or Facebook Marketplace. Alternatively, you could hold an old-fashioned garage sale.

2. Pawn something

If you own one or more items with monetary value but don’t want to part with them permanently by selling them, you could try a pawn shop loan.

A pawn shop loan is a type of instant loan where you exchange your valuables for instant cash. Typical items accepted at pawn shops are jewelry, watches, electronics or musical instruments.

With these loans, the pawn shop holds your item as collateral, and you’ll receive a cash amount for less than your item is worth. You’ll then receive a due date to repay the loan. If you fail to repay it, the pawn shop keeps your item. The transaction allows you to borrow money quickly, but you’ll lose ownership of your item if you don’t repay on time, so the biggest risk is losing something with sentimental value.

While pawning your items is far from a perfect solution, it could work in a pinch.

3. Sell unused gift cards

Gift cards are a common present, but you might receive some that you won’t use. The cards may be for stores that you find inconvenient or simply dislike. The good news is that you don’t have to stash them in your drawer forever.

Instead, you could turn that gift into cash with the help of online gift card resellers like CardCash. Enter your gift card details on the site, and you’ll receive a quote for your card. You won’t receive the full value of your card, but you may get up to 92 percent of its value. While it may take a few days to get the funds, you’ll ultimately have cash on hand. Get your payout via check, bank deposit or PayPal.

4. Access your paycheck earlier

Receiving your paycheck a few days early could help you solve a short-term liquidity issue. Early payday apps like EarnIn or Dave let you access your paycheck in advance. Keep in mind that you may pay a fee for this service. EarnIn, for instance, charges $2.99 per check to release your paycheck up to two days early.

Some banks, such as Axos Bank and Capital One, have integrated early direct deposit into their accounts.

5. Take on a freelance gig

Freelancing is a type of side gig or side hustle you can take at your own pace and in your area of interest. Freelance gigs can include more commonly known tasks like writing blog posts or graphic design projects.

But you can also become a freelance videographer, programmer or virtual assistant. Basically, you can probably make money freelancing at any job you can imagine someone needing help with.

If you’re new to freelancing, you can connect with businesses or clients through several freelance websites, such as Fiverr, Toptal or Upwork. As you build your portfolio, you can take on higher-paid gigs.

6. Try pet sitting and dog walking

Pet lovers will find this option an enjoyable way to earn fast cash. Take advantage of apps like Rover or Wag!, which connect you with pet owners who need your help.

With Rover, you can watch the pet at the owner’s home or your own. You can also accept dog walking jobs. Either way, you set your rates, and Rover takes a small percentage of your earnings. The average hourly rate for pet sitters in the United States is $12.41 an hour, while dog walkers average $14.85 an hour.

You can also become a pet sitter on sites like TrustedHousesitters, where you can get paid to pet sit in more than 130 countries. You can even request long-term sitting jobs to experience life in a different country while making cash.

7. Babysit

If you aren’t a fan of pets, you could choose to babysit instead. Care.com and Sittercity make it easy to connect with families looking for a babysitter. Babysitters generally make between $16.75 to $23.75 an hour, according to Care.com’s data. The average rate varies depending on location and how many kids you babysit.

8. Ask for a loan from a family member or friend

If you’re struggling to find the funds you need, it might be time to turn to family or friends. Before doing so, make sure you have a solid written plan to repay the loan in a reasonable time. Otherwise, you run the risk of hurting the relationship.

9. Become a food delivery driver

Food delivery services like DoorDash, Uber Eats and Instacart have become a big business in recent years. All you need to make money fast is your car and a phone to accept your deliveries in a mobile app. According to ZipRecruiter, the average hourly wage for a food delivery driver is $18 per hour.

10. Rent out extra space

If you have a spare bedroom, you can turn that space into quick cash with the help of a service like Airbnb or Vrbo. In a popular location, this can be an especially lucrative opportunity.

For shorter stays of 27 nights or less, Airbnb sends your payment approximately 24 hours after your guest checks in. The time it takes to receive your payment depends on the processing time for your selected payment method. Also, be aware that payouts may be delayed for new hosts.

If you have a big yard, you can also use a site like Hipcamp to let travelers with tents or RVs use your space for a fee.

11. Consolidate your debt

You could benefit from debt consolidation if you have decent credit and several outstanding loans with high interest rates. Although you won’t earn money from this strategy, it can help reduce the amount you’re paying each month in interest, leaving you with additional cash flow.

“Consolidating debt is a good option when you have large balances to pay off and want a structured repayment term,” says Laura Adams, MBA and author of “Money-Smart Solopreneur.”

“For example, if you have a credit card balance charging 23 percent, paying it off with a 9 percent fixed-rate personal loan over three years allows you to save a lot of interest over a set repayment schedule.”

12. Flip items

You can find free items on sites like Craigslist, Freecycle or your local Buy Nothing group to flip for cash. If you’re handy, seek out things that have some inherent value but need a little sprucing up.

For example, you might find a free bookcase that needs new paint. Take the time to make the free item more attractive, then sell it for a profit. You can make between $500 and $10,000 per month flipping furniture, depending on the items you flip and the time you spend sprucing them up.

13. Look for paid research studies

Many colleges and universities offer paid medical studies or student surveys, so you could look up a university near you to find paid opportunities. You can also search for medical study options in your area through ClinicalTrials.gov.

The median compensation for healthy volunteers participating in Phase I clinical trials in the U.S. is $3,070 per study, ranging from $150 to $13,000. Earning potential varies widely based on the type of study (medical versus non-medical), the required time commitment, the complexity of the study, and the risks involved.

The Food and Drug Administration (FDA) provides guidance to clinical researchers and recommends that participants in short-term studies receive a single payment at the end of the study. If you’re looking for ways to get money fast, search for studies that only last a few days so you don’t have to participate for months before being paid. Researchers may pay via direct deposit to a bank account, check, debit card or a gift card to Amazon or other retailers.

14. Turn coins into cash

Consider taking your jar of coins to the bank for a deposit. You won’t get rich, but you might have enough to cover a minor problem.

Before you head to the bank, call ahead to see if the financial institution will charge any fees to deposit coins. You may also have to roll the coins yourself before the teller will count them, but banks often give out free coin wrappers.

Another way to trade coins for cash is through self-service kiosks like Coinstar, which you can find at many supermarkets and retail stores. Be aware you’ll have to pay service and transaction fees (which can vary by location) to trade in your coins for quick cash.

15. Borrow against your life insurance policy

One way to get cash fast is to borrow against permanent life insurance policies with a cash value component, such as whole life or universal life insurance policies.

Borrowing against your life insurance to get immediate cash is relatively straightforward. You apply through your insurance company and specify how much you need. The money will be deducted from the policy’s cash value if approved. Notably, there’s no credit check or lengthy approval process since you’re essentially borrowing from yourself. But there are risks to know about before you go down this route.

“You should be cautious not to borrow an amount that exceeds the policy’s cash value,” says Jeffrey Wood, CPA, CFP® and partner at Elysium Financial. “This could cause the policy to lapse, and you could lose your life insurance amount or have a taxable issue.”

Also, your beneficiaries will get a smaller death benefit if you borrow from your policy and don’t repay it. “Proceeds would first go to repaying loans before being paid out,” Wood notes.

There’s no fixed repayment schedule for a life insurance loan. You can pay it back in installments, as a lump sum or not at all. Keep in mind that your life insurance company will charge you interest on the loan amount. The interest will compound over time if you don’t repay the loan.

16. Request forbearance on bills

Forbearance is when you and a creditor agree to temporarily postpone or reduce your payments. Utility, phone and cable companies often provide forbearance options to customers facing financial hardship, though terms can vary significantly depending on the provider.

Contact the service provider directly and be upfront about your situation. The forbearance plan will typically allow you to reduce or pause payments for a specified period. Note that this isn’t a cancellation of the debt. Interest or late fees may still accumulate, but delaying payments can free up cash needed in the short term.

17. Open a bank account with a bonus

Many banks have cash bonuses for new customers. You’ll need to open an eligible account and make deposits for a set period before you qualify for the reward.

You’ll get your bonus after a few weeks or months. Some banks don’t offer cash bonuses to existing customers, while others require current customers to open a new account and follow their rules to earn the extra cash. You may also be able to get a bonus if you refer friends or family to your bank.

Avoid risky sources of fast cash

Not every option to get fast cash is a good idea. You’ll want to avoid strategies with high interest rates and fees that might keep you in debt for even longer. These predatory terms can lead to long-term financial hardship, making it difficult to repay the original amount borrowed.

Payday loans

Payday loans are unsecured personal loans you must repay by your next paycheck. Unfortunately, high interest rates and short terms can lead to a vicious cycle of growing debt.

“Payday loans often come with extremely high fees and annual percentage rates (APRs) that can exceed 400 percent,” says Chad Gammon CFP®, MBA, owner of Custom Fit Financial LLC. “If you’re unable to repay the loan on time, you may be forced to roll it over, leading to additional fees and creating a cycle of debt. Borrowers often need to take out new loans to cover the old ones, making it difficult to break free from the borrowing trap.”

Title loans

Car title loans use your car’s title as collateral for a short-term, high-interest loan. If you don’t repay the loan on time, the lender can repossess your vehicle, which means you lose an essential form of transportation. This risky move puts your vehicle on the line for a loan, often weighed down by high fees.

Credit card cash advances

Around one in five (21 percent) of consumers pay for an emergency expense with a credit card and pay it off over time, according to Bankrate’s Annual Emergency Savings Report. While credit cards can be handy in emergencies, credit card cash advances should be a last resort. They often come with high fees and interest rates, and the interest starts accruing immediately with no grace period.

Next steps

Learning how to get money fast can be a good short-term solution, but it doesn’t solve the bigger problem of not having enough savings to cover unexpected expenses.

A better option is to learn how to build an emergency savings fund. If you’re new to saving, it may seem challenging at first to know where to begin. That’s why we’ve identified seven easy steps to get your emergency fund started. You’ll discover everything you need to know about building an emergency fund that provides financial security and peace of mind.