Urgent money solutions that won't hurt your credit

When an emergency money situation happens, there's not enough time to go around asking friends and family. That's when you need to find emergency cash options like online short-term installment loans or negotiate your payment terms.

No one wants to end up in a situation where they urgently need an influx of cash. But stuff happens.

Maybe your car broke down, or your appliances need to be replaced. Or it could be that you lost your job and are having a hard time finding another one.

Whatever the situation, our urgent money solutions will tide you over until you can find a more sustainable and long-term option.

Is It Possible to Negotiate Bills Instead of Borrowing?

Before doing any kind of borrowing, you should consider whether you can negotiate your bills. It isn't something that a lot of people even think about, but it could result in an easier bill payment for you or even a simpler payment plan, something that works better with your finances.

If you don't ask, you will never know. Don't feel embarrassed to reach out to your creditors and ask them for some leeway. Tell them about the extenuating circumstance in your life and ask them for some temporary consideration.

Inform them you are not going to make a habit of this and that you will be more careful paying them back in the future. If they say yes, you are all set. If they say no, then it's time to consider other emergency cash options.

What Are Some Urgent Money Solutions to Consider?

Besides asking your friends and family, there are many other ways you can get some urgent money. Here are some options to consider:

Borrowing from Short-Term Lenders

Although you shouldn't make this a habit, lending companies like My Funding Choices are a great online short-term installment loan for you to use. With them, you can get an unsecured personal loan of up to $1500 for any of your emergency financial needs. They don't do a credit check, and they don't ask any other questions.

It's easy to get a loan from them, but you must make sure to pay them back as soon as you can.

Selling Some Used Items

This is an option to consider for those folks who have a lot of unused high-quality items sitting around in their homes. Do you have a storage space that's just sitting around uselessly? Or do you have an attic or garage full of things you never use?

What are you waiting for? Take a picture of them and post them on Facebook Marketplace or Kijiji, and start selling the items for cash, listing them for free. Others would be happy to use them, and you can get rid of the clutter in your home.

Taking a Loan from Your Assets

Do you have a home, a 401(k), or a life insurance policy? All of these are assets that you could potentially borrow against. This requires you to do some paperwork and to speak to a financial advisor, but it's absolutely doable for emergencies.

Think carefully before doing so, and have a conversation with your partner and family. Don't step into this situation unless you have no other option to work with.

Access Employer Benefits or Cash Advances

Many employers nowadays do offer the option for you to borrow against your future paycheck. You can do this for a small or nominal fee, and you don't need a credit check or a good credit score for this.

All you need is a job with an employer you have been with for a while, and you can use applications like Payactiv, Even, or others to get your paycheck a little earlier than expected.

Since you are borrowing money from your own future paycheck, there's no risk here. All you need to be sure of is that you don't want to borrow money and then have no way of paying future bills. Do your calculations, and if it makes sense, then go for this option.

Frequently Asked Questions

How Can I Get Urgent Money?

There are many ways for you to get urgent money, but you will definitely need to do your research regarding which option works best for your financial situation. Don't rush into any of these without doing some calculations with your partner.

Once you are sure you can handle extra debt, you can borrow from online short-term lenders or from the assets you previously own, like your house.

You can also start selling used items to make some additional cash from your own items.

How to Make Money Fast?

There are many ways online to make money fast. Of course, there are many scams as well, so you have to be very careful.

If it seems too good to be true, then it probably is. Avoid statements like, "Make $3000 in a month" or something ridiculous like that. It's probably not true and is going to cost you more money than you make.

Go for simpler options like doing surveys online or selling stock photos. You can also consider babysitting, pet sitting, dog walking, and other such part-time jobs.

If you own a car, you can try driving for a rideshare company like Uber or Lyft. These drivers can make some decent money if they put in the time.

All of this requires you to do some research, so don't get disheartened.

Use Our Safe Money Strategies

No matter if you need urgent money or not, you must always stay within your budget when borrowing money. Don't overextend yourself, no matter what.

It's easy to do if you aren't careful, and then you are going to be paying off that debt for what seems like the rest of your life.

If you enjoyed this article on finances, then you are in for a treat. We have many more articles like this on our website, so keep reading.

This article was prepared by an independent contributor and helps us continue to deliver quality news and information.