How to Borrow Money Quickly

Nearly everyone has experienced a financial squeeze at one point or another. Needing to borrow money fast can be stressful and panic-inducing. Remain calm. Unless you owe someone $100,000 in the next 10 minutes, take some time to consider your options. And if you do owe someone $100,000 in the next 10 minutes, maybe you should consider a career change.

Instructions

Difficulty: Moderate

1. Swipe your credit card. Most people overlook this option because it seems silly and obvious. The truth is, charging your credit card or borrowing money from the line of credit is not the worst thing. First of all, you are probably already familiar with the interest rate and penalties on your card. Secondly, no one has to know about it but you.
2. Find a payday advance location in your town or on the Internet. Cash advance businesses are everywhere and yes, many people have used them at least once or twice. A quick Internet search will result in plenty of options. There are pros and cons to both options. The Internet will help you remain anonymous, but is a less personal option. Online lenders won't offer the flexibility that someone in a cash advance store in your hometown might.
3. Ask friends and family. This is a matter of pride for most people, but your friends and family are your most trusted allies. And they may not charge interest! Remember—any other kind of loan (even a quick turn-around loan) will almost always charge a fee or high interest. Think about asking a sibling. Brothers and sisters are very willing to help each other out, even as adults.
4. Discuss an advance with your boss. Don't make a habit of asking the big man for money. But if you have to borrow money fast, this is another place to go that won't charge a lot of interest. Your boss would probably be happy to help you out if you are a loyal and hard worker.
5. Check with the bank. This is not the most viable option for borrowing, but if your turnaround is a couple of days, banks can sometimes draw up certain kinds of loans very quickly. For example, if you were in a car accident and the repairs were $5,000, a small car loan can be drawn up at a bank in a matter of days.
6. Consider the source. Who or what do you owe? Although the tendency is to quickly figure out a way to come up with the money, the alternative option is to ask for an extension. If you have bills due, call the companies and ask for a few extra days. If you owe a person, communicate with them about the problem. You never know!

Tips & Warnings

• Do the research. You're probably thinking, "I don't have time to do the research!" Yes, you do. And you can't afford not to. When you borrow money fast, know what you are getting yourself into. It can take as little as five minutes to understand the rules and regulations.
• Make absolute certain that you know the terms of your quick loan and you trust the loaner. Borrowing money fast will come back to kick you if you aren't aware of the consequences (fees, interest, penalties, etc.) or the company is unreliable and secretive.