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Life is so unpredictable that you can face an onslaught of unforeseen medical bills, have to repair your otherwise reliable vehicle, or lose your job in a twinkle of an eye. Having enough cash to help you sail through such situations is always helpful. However, a December 2020 Bankrate survey revealed that less than 4 in 10 Americans have enough cash set aside to cover an unanticipated $1,000 expense. Thankfully, there are many things you can do to get money quickly when you need it for various expenses. Below are three of the best ways to get cash fast.

1. Get a credit card cash advance


You can borrow against your credit card for quick access to cash. A credit card cash advance is just a short-term loan, so you can easily get it if your account is in good standing. Each credit card comes with a cash advance limit that differs from your full credit limit. Therefore, check your credit card statement to determine how much you can get and whether it will suffice. The cash advance will be added to your existing balance and accrue a different annual percentage rate (APR). Credit card cash advances typically come with 30% interest, which is pretty high. As such, it is crucial to borrow responsibly to avoid getting trapped in debt since individuals who take out cash advances are likelier to default on credit card debt than others who don’t.

2. Sell your annuity


Annuities are a great investment, but an Alliance for Lifetime Income report estimates that 6 in 10 Americans don’t understand this arrangement and how it can provide lifetime income throughout retirement. An annuity is a contract between you and an insurance provider in which you make a string of payments or one lump sum payment. In return, you enjoy regular disbursement either instantaneously or sometime in the future. The goal of annuities is to guarantee a steady income stream during retirement if you outlive your savings. However, it might be better to sell annuity for cash if your financial situation recently changed. This way, you can get access to cash to bolster your finances in the short term. The only thing to do is find a trusted buyer offering a competitive offer and fast funding times to get your money back quickly.

3. Take on a side hustle


Side hustles are increasingly popular in the US, with an estimated one-third of Americans currently having one. A side hustle enables you to sell your time, products, and services for extra income besides your usual 9-5. You can earn decent cash from these part-time gigs, so it’s never a bad idea to consider taking up one when you need cash fast. The good thing about side hustles is there’s something for everyone based on their availability and interest. For example, you can become a dog walker to earn a decent $20 for a 30-minute session if you love dogs. Alternatively, consider signing up to be a Lyft or Uber driver if you enjoy driving.