How Can I Get $5,000 fast?
If you find yourself in a situation where you're wondering, "How can I get 5000 fast?" you might honestly believe getting the money is a complete lost cause. Fortunately, there is hope. Depending on how desperately you need it, there are a few things you can do to get your hands on five thousand dollars quickly.
Consider Taking Out a Loan
It's understandable that getting a loan for five thousand dollars isn't exactly possible for everyone, but if you truly the need the money, you should try. You'll have a better chance of getting a loan for five thousand dollars if you have something worth at least that much so you can use it as collateral. If you own a car, boat, motorcycle or even something like jewelry or a very expensive television, you can use it as collateral for any loan you apply for. With collateral to put up front, many banks will loan you the money you need regardless of your credit score. But don't worry -- there are still a few ways to get loans for five thousand dollars with no collateral. There are a large number of financial institutions, both online and offline, that will give out large loans to people who have bad credit and no collateral. These loans are generally referred to as "bad credit loans," and yes, there is a catch: You will almost definitely end up paying back an astronomical amount of interest. Be sure to read the fine print before signing on the dotted line to make sure you really want to pay back that much money over time just to get your five thousand dollars now.
Inventory Your Gold
If you have gold lying around in the form of jewelry, pendants, or coins, consider selling it. You would be surprised how much money people are able to earn for selling scrap gold. Before you dismiss the idea because you don't believe you actually have enough gold, take a minute to think about all the items in your home. You can probably come up with more gold than you realize if you inventory absolutely everything. The amount you'll be able to earn from gold will depend heavily on the going rate for gold, which changes often. The International Business Times reported the price of gold at $11.10 per troy ounce in March of 2011. You would truly be surprised how quickly that can add up! If you have some gold to get rid of, find out how much you have in ounces and check the going rate. Even if you don't have enough gold to get you to the five thousand dollar mark, there's a good chance you'll have enough to get at least part of the way there. Make sure to have your gold appraised first so you know how much it's worth. You can't realistically expect to receive 100 percent of your gold's value when you sell it, but you also don't want to allow someone to rip you off.
Other Ideas to Get the Money You Need
If you're really desperate for money, CBS News suggests selling any mutual funds or stocks you might have access to that aren't doing so well. You should also consider cashing in Certificates of Deposit (CDs) if you have them. In addition to these ideas, you would be surprised by what you can earn for donating blood and plasma. So, if disaster has struck and you need to get 5000 fast, it's possible that you can get it if you put any or all of these ideas to work.