Fast Cash

As you already have figured out we don't believe in get rich quick schemes. However, sometimes a person needs cash fast for whatever reason. What are the ways to come up with money when you don't have a Rich Uncle Pennybags to call on?

  • Garage sale - price the junk, put out the signs, and lets have a sale! Most of us have plenty of things that we can do with out that will bring in some needed cash. Start scouting things up and collecting them in one spot. You may be surprised by how much you have. Some years back, at our first garage sale, we made over $300. We looked back and said, "What did we sell!?". It adds up fast.

  • ebay/craigslist - Not much for tables and crowds at 7 am? Try selling via the electronic garage sale that is the internet. Potentially wider audience here, but with less interaction with the customers.
  • Donate fluids - Blood, plasma, sperm. There is a market for each, though the latter two pay better.
  • Second jobs - Some positions are always in demand and if part of the pay is in tips, then we have a winner! Waiters/waitresses and pizza delivery drivers are good examples.
  • Self-employ - This doesn't even have to be so rigid as starting your own business. Talk to your friend down the block with 6 kids. Tell her you're looking to make some extra cash on the side and would like to know if you can clean her house once a week. While you're at it, offer to babysit. Look for neighbors that could use some help cutting the grass (these aren't tough to spot). There are plenty of ways to fill up your free time that earns you some fast cash.
For every good way of coming up with quick cash, there is an equal but opposite bad way of coming up with money. Not good ideas:
  • Payday loans - Hoping this is obviously bad, but maybe it's not? These guys are legalized loan sharks. You've seen them in the news lately where the effective APR on the money loaned is something like 800%! They also trap you in a cycle of dependence that is tough to escape. Bad, bad, bad.
  • Pawn shops - Not a bad place to buy stuff, but if you are looking for top dollar for your stuff, you won't get it here. Just like any retailer, they have to buy stuff at wholesale prices to sell it at retail and turn a profit. You're looking to sell at retail direct to customers. Just cut these guys out by using ebay or craigslist.
  • Used book or game stores - These places may seem more favorable than an actual pawn shop, but you'll find the end result to be quite similar.
  • Gambling - Really? Do we need to start/encourage another bad habit? Especially one involving money? Some folks do walk out of casinos with some quick cash and they are very rare and very lucky. 99% of the time, these places will take you in the opposite direction of where you are looking to go.
  • Credit and debt - A very easy and very tempting way to get needed funds, and one that we will not endorse. If you are in this financial position, then it is very likely that you won't be able to pay the credit card company either. See you didn't solve anything by using debt, you just moved who you pay the bill to, and possibly bought yourself more time. Though now you are banking on being able to pay later, which is similar to the bad idea just above - gambling. Debt is the last thing you need in an emergency and that includes hitting up friends or relatives. You'll quickly understand what the phrase, "the borrower is slave to the lender" means.
How have you gotten your hands on fast cash in the past? Looking back, would you put it in the 'good idea' bucket or the 'bad idea' bucket?


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