How to Get Cash Fast Safely and Legally

All that glitters is not gold, but some of it is.

Is your income keeping up with rising prices? Are you prepared for an emergency, such as a health problem or a furnace going out? Are you having trouble just meeting your regular expenses, much less being able to afford the luxury of a dinner out or a movie and babysitter? If you're concerned about raising cash fast, safely and legally, here are some ideas for you.

Things You'll Need

• Gold jewelry
• Clothing in good condition
• Saleable belongings

Instructions

1. Get cash today. Check your jewelry box for plain gold chains, bracelets, rings and earrings. Don't worry about workmanship, or whether one earring is missing, or even if a chain or pin is broken. Remove any gemstones. The buyer will just melt it all down. Although gold is going for about $800 to $900 an ounce, most gold jewelry is only about half gold if it's 14 karat or below. Take it to a reputable jeweler who will adjust it for weight and gold content and make you an offer. Compare that with bids from other jewelers. With luck, you'll be offered approximately 90 percent of the market price. If you don't need a quick turnaround, you can also try to sell your gold online at Cash4Gold.com, for example.

2. Go through your closet for up-to-date clothing in good condition, making sure it's clean and not in need of repair. Consignment shops are always looking for quality clothing. If you have an extra coat you can do without or a special occasion dress you won't be needing, you can make some money. You won't get what you paid for the clothing, but your goal is to turn things you already own into cash.

3. Evaluate your furniture. Do you have chairs from a dining room set you don't use anymore? Or an ottoman or extra chest of drawers? Take pictures and go to a local consignment shop to see if the owner is interested in selling it for you. She will pick it up, put it in the showroom and take a cut if it sells. You can set the lowest price you are willing to take. Consignment shops may take fine china, lamps and other furnishings, too.

4. Have a garage or yard sale. Put everything you don't need out for sale. Your only expenses will be a classified ad to advertise your sale and some signs you can put at the corner of your street. Expect to earn anywhere from $25 to hundreds, depending on what you are selling. Children's items, furniture, clothing, accessories, bikes, lawn equipment, anything at all is fair game. And unlike the things you take to a consignment shop, they don't have to be in like-new condition.

5. Borrow money. This can provide you with cash to use, but not real income, since you have to pay it back. You may have relatives who will loan you money temporarily, but only take it if you are positive you can return it. Otherwise, you may damage important relationships.

6. Visit an online lending website like Prosper or Lending Club. The money is offered by individuals who want to earn more interest than banks will pay them. You must have excellent credit to be approved.

7. Auction some of your belongings on eBay. Remember, you must ship the item to the buyer, so carefully estimate shipping and pass that cost on to your customer.

8. Make use of the equity in your home. A home equity credit line lets you tap into your home's worth by writing a check. To be approved, you'll need steady employment, an income that can be verified and good credit. Try the lender who holds your first mortgage. You may get special consideration if you're already a good-paying customer. The interest you pay on this credit line is often tax-deductible.

Tips & Warnings

• You can "find" money by cutting your costs. Shop for better insurance rates and lower-cost car maintenance. Get a better deal on your land telephone line by combining it with your cable, broadband Internet or DSL service. Reuse what you can, lower your standards and eliminate excess spending. Your Depression-era grandparents probably said, "Waste not, want not," and they were right.

Resources

• Cash 4 Gold
• Prosper
• Lending Club