There is not one of us that have not needed some cash quickly for an unexpected bill at one time or another. However, coming up with this money out of nowhere can be a chore, especially if you aren’t familiar with the options that are out there. Happily, this is something we can help you with, so check out our rating guide below, to different ways of raising that money, quick!

Payday loan

Payday loans have been in the press a lot lately, mostly because of the insane level of interest. We are taking over 1000% here people. Obviously, loans like this are a poor option because they mean you are paying way more back than you borrow.

Despite this folks still borrow in this way, and it is because of two things. One is that it is such a quick process. In fact, payday loans can be almost instantaneous. The other is that payday loan companies are much more likely to lend to those with a poor credit rating, something that provides those with no other option a way to raise much-needed cash.

It is also worth noting that there is now new legislation in the UK that prevents payday loan companies charging ridiculous amounts. That not to say that they are a cheap option, but they are becoming more reasonable, so be sure to check that interest rate before you sign on the dotted line.

Opinion: Super quick, but prey on those with no other options, plus high-interest rates make payday loans ugly.

Credit card

The next option to consider is getting a credit card. Traditionally it has taken a while to be approved for these, but with so many online credit checks, if you are accepted, you can get your money almost instantly.

Of course, when you apply for a credit card, you need to do your research and check that it is a good fit for your situation. Look for cards with the lowest interest rate, and if you can find one that is offering 0% then go for that.

In fact, if you can find a card that offers 0% not only on purchases but on balance transfer from other cards as well, you are getting a pretty good deal.  Just be sure to find out how long this offer applies, so you aren’t caught with any unexpected charges later on.

Opinion: Quick decisions, possible low-interest rates = good

Sell something

Another option for making money fast in a financial emergency is to sell something that you own. The fancy term for this is liquidating your assets, and it can mean anything from selling a piece of jewellery to trading in your stock and shares.

Of course, the problem with this type of action is that you aren’t always guaranteed to find a market for what you are trying to offload, especially if it is a physical item, something that can cause a delay in getting the money that you need. Then even if you do find a buyer, it may not be one that pays the full value of your asset, meaning you can end up losing out.

Opinion: Possible potential, but possible delays make selling items to raise cash a bad choice.