4 Ways to Get Quick Money When You're in a Financial Bind

Any number of incidents can put you in a financial bind. Unfortunately, not a lot of us have the privilege of being able to dip into an emergency fund. Or, fall back on credit cards in these dire times.

What do you do?

There's always trying to snag extra hours of work (what's the reality of that happening?). You could plead with the billing company to give you an extension (again, unlikely to happen). Luckily, these aren't your only options — there are better ones to get yourself back on a financial track.

Make Money Fast: The Ways to Quick Fix Your Finances

Most Americans have less than $1000 in savings. This doesn't give you many options when in a financial bind. It's certainly not an emergency fund since those are meant to account for 3-6 months.

You'd burn through savings in no time. And, you'd still have financial woes and bills to pay.

Need alternatives? Try these quick money fixes:

1. Pawn
Pawn shops are a quick alternative cash flow for those in a squeeze.

There are two usual options when pawning:

• Sell the item to the shop
• Use the item as collateral for a short-term loan

Selling the item at face value delivers cut-and-run results. This is a typical option if you're willing to part ways with items you no longer need. However, you may also choose to use the item as collateral in a short-term loan with (about) a 30-day window. You may choose to pay your balances and reclaim your item or walk away if you're not expecting to cover the loan.

2. Installment Loans

Personal installment loans provide small loans with fixed rates. Though, these loans do have a higher APR compared to working with a bank. These loan types are a smarter alternative than your typical payday loan since they do not carry heavy repayment fees which digs you further into the financial hole you're trying to escape.

PIL's are available through several online providers with loan thresholds often $2000 or more. This gives you faster access to capital. And, easier repayment options through online portals versus dealing with banking institutions which may not extend a helping hand because of your credit score.

3. Micro Jobs
The sharing economy has created quite an opportunity for those with extra time and/or specific skills to make money on the side or in a pinch. This includes doing micro tasks for others like:

• Picking up groceries from an online order
• Dog walking or pet-sitting
• Tutoring or handyman work

Platforms like TaskRabbit or Rover can create quick cash in busy locations. Soft skills — often just being able to run errands — may not pay much but can quickly cover some unexpected expenses. The freelancing side could prove incrementally beneficial if it turns into a recurring gig.

An ever-popular option in this sharing economy is driving for Uber or Lyft.

4. Donate Plasma
Donating plasma is time consuming but does pay around $20 – $60 depending on the demand. You'll find some locations offering bonus incentives for first-time visitors, too. The process is the same as donating blood except plasma is separated during the process.

Unlike blood donations, which you wait two months between, you can donate plasma twice a week to many private centers. This quickly becomes an extra couple hundred every month.

The only downside is that the process is time-consuming. But, when you're strapped for cash and would otherwise toil with nothing to do? Plasma gives you a solid option.

There are (Almost) Always Options

You can never quite expect what life throws at you. But, if there's one thing true about being human is that we're survivors — we can adapt — this includes financial woes.

There are many options for earning quick capital to cover expenses. These exist for those without the privilege of an ample emergency fund or able to request funds from friends. You'll come out on top if you use them wisely — so, see which of these four works best for you!