What are Your Options for Emergency Help During the Coronavirus Outbreak?
The Coronavirus pandemic has brought the world to a grinding halt. Many countries have initiated complete lockdowns to prevent the spread of the virus. These lockdowns have limited public access to numerous necessities, including cash. But emergencies don’t warn us of their arrival. And given the reach of Covid-19 globally, there’s no telling when you may need to access large funds. That’s why we’ve decided to compile a list of income-generating avenues which can give you access to cash at a moment’s notice:
Your emergency savings or personal fund
Emergency funds are meant for emergencies. We recommend cracking open that piggy bank and tapping into your emergency fund. If you don’t have large emergency savings, then consider tapping into any college fund or travel fund that you have.
Resale Marketplaces / eBay
Sale of non-essential items can bring you cash-in-hand within hours during an emergency. You can list your item on sale on marketplaces such as OfferUp, Craigslist or eBay!
Personal loans are one of the speediest ways to get cash. Just fill-in the application and within hours your loan will be approved. The money will often be transferred to your account in 24-48 hours. At Jasper, our mission is to help you find the best loan in the market. We can do this without checking your credit score to show you offers. Our personal loans are extremely competitive and have very feasible terms. [Apply here]
At this time of coronavirus, a lot of companies are laying off workers, but some are ramping up during the crisis. Companies such as Amazon, Wal-Mart, Target, etc. have all announced that are going to be hiring new employees to help with the increasing demand of the crisis. If you’re okay with it, you could get a temp job driving Uber or Lyft too. This can get you much-needed cash in minutes.
Have a precious, expensive item that you can pawn? Then do it. This is one of the best ways to get cash-on-hand, with the least effort. You can always buy it back later.
Sale of investments
If you own bonds or shares in your name, now would be a good time to sell them. Sure, you may not get great value since the market isn’t in the best shape now. But it’s still quick money.
Cash-out your retirement fund
Retirement funds can be cashed-out before they mature. But you may have a penalty against that. Still, if you’re looking for sizable funds, this is what you can do. You can also borrow against your retirement funds