We were browsing Reddit recently and someone asked about how to make money fast when you already have a full-time job.
More than one person responded with "sell plasma." You do you, but that's not on our list.
Someone else suggested selling options. We are not financial advisors and we do not give financial advice. We will say one of our investing Nerds has been experimenting with options over the past five months, and he's a pretty smart guy.
"I am still on my option-selling journey, and I’m pleased to report that it’s going… okay. It hasn’t been a disaster, but it also hasn’t been the easy money I’d hoped for," says Sam Taube, author of The Nerdy Investor newsletter.
So again, do you. But if you need money, like rn, you may find THESE options ⬇️ more feasible.
So again, do you. But if you need money, like rn, you may find THESE options ⬇️ more feasible.
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1. Look for a payday alternative loan
Some credit unions offer small, short-term cash advances known as payday alternative loans. Federally chartered credit unions legally can’t charge more than a 28% annual percentage rate on PALs. That's not cheap, but traditional payday loans can have triple-digit APRs.
2. Seek community loans and assistance
Local community organizations may offer lower-cost loans or short-term assistance to help with rent, utilities or other emergency needs. Religious groups may make small loans at low rates.
Community centers and nonprofit associations in your area may also offer small loans.
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3. Apply for a personal loan
Some lenders can fund a personal loan in a day, especially if you have good credit. If not, look for lenders that work with bad credit. Rates for borrowers with bad credit from mainstream lenders can reach about 36% APR. Avoid no-credit-check loans with much higher APRs.
You can also ask for a loan from family or friends to avoid challenges with credit and reduce or eliminate interest. Money transfer apps like Venmo and Zelle make the exchange quick — but be sure to agree on the terms upfront to avoid family or friendship fallout.
4. Walk or watch a dog with Rover
Community-focused side hustles are super popular, and can be a path to cash.
Rover and Wag are online platforms that match pet owners with local sitters and dog walkers. At Rover, you can choose to host the dog, stay at the owner’s house or do drop-in care visits. Rates for pet-sitting at an owner’s home can range from $25 to $100 a night, depending on the size of your city and the services involved.
5. Request a payroll advance
Ask your employer for a cash advance on your pay. This usually doesn’t cost any fees and you can repay via payroll deduction. Some companies also offer low-cost loans to workers in crises.
6. Use a credit card cash advance
If you have a credit card and the account is in good standing, a cash advance is a much cheaper option than a high-interest payday loan. You’ll pay a fee, typically about 5% of the amount you borrow, plus interest, which can be about 30%.
7. Consider a cash advance app
Money borrowing apps like Dave, Chime and EarnIn promise fast cash that you can pay back when you get paid. With Chime, for example, its MyPay feature lets you borrow up to $500 before payday that you can get within 24 hours.
These companies will typically review your checking account to confirm you receive a regular paycheck for qualification. Fees that can add up and the potential for repeat borrowing are a couple of the downsides of apps like these.
8. Sell stuff locally on Facebook Marketplace
Cash won't come as quickly as with a pawnshop, but you can list items for sale on Facebook Marketplace in just a few taps. Furniture, electronics, power tools, men’s and women’s clothing and even vehicles are popular categories of items to sell on Facebook. Snap some pics, pull up your Facebook app and create your listing(s). Price items competitively for a quicker sale.
» Explore more places to sell stuff online.
9. Pawn something of value
You can often sell outright instead of borrowing against an item at a pawnshop. Jewelry and gold, musical instruments, firearms and up-to-date electronics are among the items that fare best.
A pawnshop loan is not ideal, but can be a fast way to get cash for something you own. The kicker is the pawnshop keeps the item you put up as collateral if you can't pay back the loan.
» MORE: How to sell your gold
10. Become a gig delivery driver
These are jobs you can do in the evenings or on weekends, using your own car and gas, that can help you get money now. It’s relatively easy to sign up for a service like DoorDash or Instacart, and you’ll get a weekly deposit once you start working. DoorDash will also let you cash out what you earn daily for a small fee.
Nerdy Perspective
How fast DoorDash pay?
I tried DoorDash delivery as a side hustle. While I didn’t earn much, I did get the money rather quickly. My first dash was on a Thursday, and the $23.25 I made that day was in my bank account the following Tuesday. I could have paid a $1.99 fee to get what I made right away.
11. Sell your gift cards
Exchange websites offer cash for gift cards. The site CardCash pays up to 92% of a card’s value. GiftCash is another option. Sites like these tend to take a few days to issue payment, especially if the card needs to be mailed in.
Approach payday loans with caution
Payday loans, and those advertised as no-credit-check installment loans, are high-cost borrowing options. You typically only need a source of income and bank account to qualify. But the fees you’ll pay, which can equate to an annual percentage rate of around 400%, make these less-than-ideal options.
Depending on your situation, exploring more reputable debt relief options is probably the better next step.
Ask for help if you need it
If you’re behind on bills, ask the biller for forbearance. Some creditors, such as utilities and cable television companies, may not charge interest on late payments, so find out whether they’ll accept delayed payments.
Use whatever money you save from not paying those bills to cover emergency needs. If you can't pay consumer debts, such as auto loans or mortgages, explore your options with the lender before turning to high-rate loans.
Meet MoneyNerd, your weekly news decoder
So much news. So little time. NerdWallet's new weekly newsletter makes sense of the headlines that affect your wallet.
