$1000 in a few days?
February 7, 2008 7:59 AM   Subscribe

I need to raise $1000 in a few day's time. How?

So, my fiancee and I signed a six-month lease on a new apartment, and immediately afterwards the job I was banking on fell through. I'm employed now, but won't be getting my first paycheck for a couple weeks. Now we're in a position where we need to pay about $1000 a few days from now, and we're kind of out of options. We don't really have anything to sell (other than my computer, which I'm incredibly reluctant to part with), and while we're extremely wary of loans, we realize that might be our best bet. What are our options here?
posted by clcapps to Work & Money (33 answers total) 7 users marked this as a favorite
As I see it, your options are: sell off assets (stock, physical items), provide a service (maybe look at the Gigs section of Craigslist for some quick money making gigs), or get a loan. If the latter is your route, maybe a sympathetic family member or friend who would understand your situation and who you could repay quickly? Good luck!
posted by thedanimal at 8:02 AM on February 7, 2008

Go to one of those places that give you money for your blood/plasma. I think they pay like $200 a pop. Between you and your girlfriend, you'll be almost halfway there.
posted by ND¢ at 8:04 AM on February 7, 2008

Do you have a credit card? You can get a cash advance (I think, I've never done it), and then pay it back in a few weeks when you get your paycheck.
posted by amro at 8:04 AM on February 7, 2008

Most banks/credit unions (preferred) will give 60 and 90 day loans (aka promissory notes) at rather low interest. Much better than cash from a credit card in every which way.
posted by unixrat at 8:09 AM on February 7, 2008

How's your credit? Loans are fine as long as you know when and how it's getting paid off. I had to do a similar thing when I moved July this year, I took out a loan on an 18 month repayment plan with my credit card provider. It had a high interest rate overall but no penalty for early repayment. I paid it back, in full, that September. Accumulated interest was at most about £30.

Alternatively you could pay in full with a credit card, but pay it off immediately that your paycheck comes in.

Don't be scared of loans for smaller amounts if (and *only* if!) you can pay it back quickly.
posted by freya_lamb at 8:10 AM on February 7, 2008

A cash advance on a credit card is a bad way to get money, but if you really need it and can pay it back quickly, it may be worth it. Just be aware that you frequently have to specifically pay back the cash advance, and you may have to jump through some hoops to get an address etc to send a check to.

You might be able to do that same thing with an overdraft account on your checking. While not strictly ethical, you could just write a check up to the limit of your overdraft, even if you don't have the money in checking.

I'd just like to reiterate that these are both bad ideas in the sense that you can get into a lot of trouble and fuck up your credit by using these services. They are there mostly to make the lenders a lot of money based on your desperation.
posted by OmieWise at 8:12 AM on February 7, 2008

I would discourage selling your computer, there's not much market for used hardware and you'll take a huge loss.

Lots of good answers above, I'll add 'sell a kidney' you only need one!
posted by oblio_one at 8:15 AM on February 7, 2008

Ask Mom.
posted by Stynxno at 8:19 AM on February 7, 2008

While I'd never recommend those shady payday loan stores, some banks, including Wells Fargo and BofA, now offer short-term loans to customers whose paychecks are electronically deposited. You just started a job, but does your girlfriend have an account in good standing somewhere?
posted by M.C. Lo-Carb! at 8:22 AM on February 7, 2008

Go to one of those places that give you money for your blood/plasma. I think they pay like $200 a pop.

Try between $15 and $40.
posted by frobozz at 8:29 AM on February 7, 2008

Can you ask your employer for an advance on your first paycheck? I was in a similar situation with my first job out of college, and my new employer happily advanced 1/2 my first paycheck so I could make a down payment on a car.
posted by COD at 8:30 AM on February 7, 2008

Just last night I made $125 for being part of a focus group for a Guinness product. It took less than 2 hours and I got to drink beer. Check Craigslist for focus group announcements and call up those that apply to you.
posted by robocop is bleeding at 8:35 AM on February 7, 2008

There is nothing wrong with a personal loan from the bank as long as you can pay it off. If you have good enough credit (it wouldn't take that much to get $1k), and you can pay it back timely, I'd do that.

Although the best option would be knowing a friend or family member with money.
posted by mikeo2 at 8:47 AM on February 7, 2008

seconding asking for an advance on the paycheck and looking through craigslist gigs section. asking friends/family (not for the entire amount but $50-100/person, which would be manageable) - throwing a "save clcapps and mrs. clclapps from homelessness" party and asking your friends/guests to pay a cover of say $15-20. donating your blood/sperm may be a good idea. also starting a website like SaveToby and asking for bunny ransom money. the possibilities are endless.
posted by barrakuda at 9:01 AM on February 7, 2008 [1 favorite]

Your employer may offer advances on future wages. Or, you may be able to borrow from a retirement account. If these are not options, perhaps a rent party?
posted by gyusan at 9:03 AM on February 7, 2008

How did you get the money last May?
posted by thilmony at 9:25 AM on February 7, 2008 [12 favorites]

Have a raffle.
posted by Sassyfras at 9:31 AM on February 7, 2008

Collect all your change?

My mother recently collected and rolled all her loose change and it totaled around $1100. Hopefully you've got at least a little bit laying around.
posted by ODiV at 9:33 AM on February 7, 2008

Are you in the US? Have you done your taxes yet? If you are getting a reasonable refund, you can always go into a place like H&R Block to get an anticipated refund loan. The rates and fees are fairly outrageous, but it's quick money in a pinch. I had a brief financial nightmare two weeks ago that pushed me to investigate this option; Of my $900 federal refund, I would have received about $700 from H&R Block. Luckily, the situation resolved itself in time, but it's good to know that's an option.
posted by Cat Pie Hurts at 10:10 AM on February 7, 2008 [1 favorite]

You might be able to get a credit line on your checking account at your local bank. Usually they have smaller limits that exist primarily for "overdraft protection" and the fees and rates are much less than those you'd get through credit cards, while the process is much easier than getting a loan.

On the desperate end, they have those "check cashing" places which are horrible ripoffs, but if you NEED money, I believe they can give you an advance on your paycheck, assuming you can verify you are employed. The fees would be quite a bit though.
posted by lubujackson at 10:11 AM on February 7, 2008

How did you get the money last May?
posted by thilmony


Collect all your change?

My mother recently collected and rolled all her loose change and it totaled around $1100. Hopefully you've got at least a little bit laying around.

posted by ODiV

I doubt $1100 was "laying around" but if you have a change jar, it might be a good idea. Instead of rolling it yourself though, just go to any Commerce Bank and they have a machine that does it for free, even if you don't have an account there. Though, I only know this to be true in NY and NJ.....
posted by Grither at 10:12 AM on February 7, 2008

P2P loans: Prosper and Kiva (although the latter is more small business-oriented).
posted by spiderskull at 10:38 AM on February 7, 2008

Jane Magazine once did an article on this. Here's the short version:

posted by universal_qlc at 10:47 AM on February 7, 2008

Why not ask all us people on Metafilter to send you a buck? If I had your address I'd send you a dollar or two (literally. I'm not a rich person. It would only be two dollars). I'm guessing the other nice people here would too. You'd get a bunch (perhaps a thousand) of dollars in your snail mail. How awesome would that be!
posted by mamaraks at 11:46 AM on February 7, 2008

Don't do that.
posted by ND¢ at 11:53 AM on February 7, 2008 [4 favorites]

It was just an idea. Geez.
posted by mamaraks at 11:55 AM on February 7, 2008

That would NOT be awesome.

I suggest a loan since you know how you're going to pay it back. Even a credit card would work as the interest rate wouldn't be an issue for such a short timespan.

You've posted two AskMes in 9 months about how you're desperate for money to make rent and need to Make Money Fast. The real solution is to make lifestyle changes so that this doesn't keep happening.
posted by Justinian at 12:01 PM on February 7, 2008 [1 favorite]

spiderskull: Kiva has nothing to do with loans to people in the first world.
posted by ssg at 12:06 PM on February 7, 2008

Justinian has a good point, in the long term it would help if you learned about financial planning. The fact that between the two of you, you cannot come up with a thousand bucks would mean that you have no savings, no emergency fund, no money in the checking account. I have been there at some point of my life, so my post is not so much about embarrasing or chastizing, but rather pointing out that it's a risky/tough way to live. MAybe time has come to think about it and implement some changes.
posted by barrakuda at 12:18 PM on February 7, 2008

This was the result last time someone tried to ask MetaFilter for money. It would be a bad idea for someone with chronic "budgeting problems" to ask for money here unless they're prepared to have their lives scrutinized in a lot of detail. As it is, repeatedly asking about how to make rent in this space seems a bit like a covert plea to me.
posted by OmieWise at 12:20 PM on February 7, 2008 [1 favorite]

I did a credit card cash advance twice in my life, both times when moving into an apartment, having no savings or support structure in my life, and had to come up with a huge security deposit in a short time.

The upshot is I got to move into both places and live my life without having to ask my parents for money, the downside is that the second one took about four years to pay off and I probably ended up paying 3x the original loan through interest.

I eventually learned how to budget my money and no longer have any money on credit cards. I would suggest buckling down and doing the same as soon as you possibly can.
posted by mathowie at 2:12 PM on February 7, 2008 [1 favorite]

3 and 1/3 days panhandling outside the Coos Bay, OR Wal-Mart theoretically nets $1000, tax free too
posted by whoda at 7:10 AM on February 8, 2008

...just a side thought - we would have at least that much in change! But yeah, she don't fit in no 'change jar'! The bulk of it is in a pretty small industrial plastic tub that I can not get off the ground, whatsoever at all. If you put it all together and you can lift it, it's probably not worth counting just yet.
posted by mu~ha~ha~ha~har at 8:40 AM on July 30, 2008

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