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Get Cash Quick

Here at Finance Facts we get asked numerous questions about all aspects of personal finance. One of the most common questions that we see raised time and again is: how can I get hold of cash quick?

We get asked this from people in many different circumstances. Some are in real financial difficulties and may need to raise money extremely quickly. There may be a sense of panic associated with this. For others, it's simply about finding a form of investment that will pay back in a hurry.

So what options are there available to you when looking to make money fast?

It's fair to say that the internet contains a lot of information on how you can do so. How valuable is that information? In general terms, it might be seen to range from extremely useful to some sources of rather shady information. How can you identify the difference between the two extremes?

A lot of this will come down to your own instincts. If something seems too good to be true then it probably is! It pays to be wary. It's always worth investigating your options fully and, if in any doubt, then take the time to contact an independent financial advisor.

Get Rich Quick Schemes

There are many "get rich quick schemes" that are being advertised. You might well wish to be particularly wary of these.

In particular, you need to consider:

  • Is the scheme legal?
  • Who is operating it?
  • What's in it for them?
  • Do you have to pay any money up front?
  • How will you get paid and when?
  • Have you got the contact details for the individual or company running the scheme? Can you get hold of them quickly and easily?
  • What do others have to say about the scheme? Is there any negative feedback online?

Selling Some Belongings

This can be a good way to raise some cash in a hurry. You need to be aware that the fact that you are in a rush may mean that you may not get full value for some items. That's because some buyers will look to take advantage of your situation.

How can you deal with this? Always think about what you are selling. How happy are you to get rid of an item? What value does it have to you?

Ebay is a well-established way of selling many items. Always ensure that you are happy that you're dealing with trusted individuals. Never send out any of your belongings until you are certain that you've received payment. If you're accepting a cheque then make sure that it clears before releasing any items.

If you don't want to use Ebay then there are other means of selling some belongings. There's recently been a rush of television adverts suggesting that you can sell jewellery and get paid in cash.

Is this worthwhile? Again, it really comes down to how much you value an individual item. Make sure that you'll be receiving a reasonable amount. Some gold buying companies won't tell you how much they'll be paying you in advance - be wary of this approach.

If you are interested in making use of a gold selling service then we're currently aware of the following companies offering such services. It's worth comparing their services before making a decision:

Cash For Gold 2 Day
Got Gold Get Cash

Don't forget that there are also offline opportunities for you to make money from selling your own belongings. How about a car boot sale, or even a garage sale at home?

Do You Have A Skill?

Most of us have a skill that we're really good at. Could you sell your skills or services? Good skills to sell might include:

  • Cooking
  • Cleaning
  • Gardening
  • Domestic assistance
  • Babysitting
  • Sports coaching

These are just the start! Think about what you're good at. Could you turn it into an immediate source of income?

Stocks And Shares

How about making use of the stock market to make money fast? You may have heard about something called day trading. Some people suggest that they make good money from such an approach, although you'll need to know what you're doing.

The risks are relatively high and it will take a considerable amount of time to build up the necessary skills to make money fast. If you're strictly an amateur investor then you're likely to find that it will be tough to get any money within a quick timescale.

As you'll find suggested elsewhere, many analysts suggest that the long-term performance of the stock market means that this can be a good way to generate additional income over a period of years. If you're looking to make that money within a matter of hours then you might wish to look elsewhere.