My Best Fast Loan Ideas: Quick Easy Ways to Borrow Money

If you need a legitimate way to borrow money quickly, to pay unexpected bills or some other temporary debt cash flow emergency - here is a list of places, ways and methods to get extra money fast.

I can't say which is the best way to borrow money or find fast cash, or even if I have covered all the money finding angles.

What I have tried to do is come up with sensible real world borrowing possibilities that might give you ideas on getting a speedy loan.

It all depends on your own personal needs - some ideas for borrowing that might help when you are in a tight financial situation.

Sometimes it's difficult to immediately dig yourself out of a hole and that's when you need to get creative when looking for a temporary cash solution to hopefully short term money problems.

So here, in no particular order of preference, are my money borrowing ideas...

Internet social lending or peer to peer lending sites have been around for some years now.

The idea is that loaners lend to borrowers directly, cutting out the middle man.

The site takes a cut of course. Interest rates tend to be lower than those offered by banks.

The future of lending?

The direct agreement between lender and borrower can work very well - costs are more reasonable and the deal is more personal than many other alternatives.

Use your valuable possessions as insurance against the loan.

Pawnbrokers charge high rates of interest, but like Payday Loans offer a service that may be useful as a last resort.

When you pay off the loan and interest you get your precious items back.

Or Cash Advances. Small short term loans to cover the borrower until their next payday. Hence the name!

Expensive, emergency cover.

This sort of loan must be viewed as a last resort, but if you have nowhere else to turn and you need to borrow money quickly then they are an option.

Tip: Don't use the first one you find. Look around, check out the terms - be careful and cautious. Some of these deals are no better than loan sharks.

If you have sufficient good credit this is probably the easiest way to get money quickly.

Interest rates are expensive, but for a short term fast loan without hassle – this is my best suggestion.

If you play the 0% interest game (stoozing) – moving your balance frequently - you could pay no interest at all!

Stoozing is where you constantly move your outstanding cc debt to zero interest credit card offers.

Takes a bit of research, and relies on lenders offering deals but the experts manage to get their credit for free doing this.

Simplest method is just to go overdrawn if your account allows this. It’s expensive, and you get a letter from your bank.

Which they will bill you for the privilege of receiving. I love banks.

Other methods are to ask nicely, and they will offer a range of expensive loans - although cheaper than the instant rivals.

If you own a house, then the difference between the value of the property and the mortgage is called equity. There are a number of companies offering equity release schemes.

Best to talk to your own mortgage broker first.

Always a bit worrying to take money out of your house – it should be a last resort for a tide me over loan.

On the other hand, using equity for a business deal may make good sense. Mortgage rates are among the lowest cost loans on offer.

If you work for a small business it might be possible to ask for a loan till payday. Play this one carefully, but they might help you out.

After all, you are their number one employee – aren’t you?

And it's their fault anyway for not paying you enough. Tightwads.

Do you know anyone who always wanted your 1952 Gibson Les Paul guitar? Can you bear to part with it?

I’d rather stay in debt.

But if you need some dough fast and you possess something of value - there's a simple money decision to be made.

Never borrow money from mates. However, they are close and easy to pin down in a corner with a hard luck story, and they probably won’t charge interest either. So your friends might lend you money.

Seriously, cadging money off friends is bad, and you must only ever try it in a real emergency, not just because you want more stuff.

Pay the loan back in full, and pay back promptly. Or lose your friend. Just trying to tap them up for a loan may lose them anyway.

If you do go down this route then it is essential to make a proper loan agreement especially if it's going to take a while to pay back. Do it properly and make sure both parties know where they are at.

Stay honest and stay friends.

Your parents always wanted the best for you and here you are down on your luck trying to rip them off for even more money.

Don’t you know how much you cost them just to get you this far?

Plus points. They are a soft touch, won’t charge interest, and probably don’t really expect the money back.

How’s your conscience?

By partner I mean borrowing from girlfriend, boyfriend, wife, husband, etc. Business partners are something else and I don't know much about that sort of borrowing.

It’s probably their fault you’re in trouble anyway. If not, and you are a woman, make it their fault. Once the gates are open on this one you can live in the style you always wanted, before you hooked up with a loser.

OK, not really. But they are your partner, and you’re in this together.

Unfortunately, many people hide their debt problems from their partner and this can lead to big trouble down the road. Best to be honest and see if you can work things out together.

Help each other. After all, you are partners.

Avoiding the need to borrow money is one of the best things you can do for your financial and mental well being.

If you regularly need more money than you earn try to work out why that is and where your income is going.

If you are in debt and still buying luxury items you need to get some self control.

We can all live more cheaply without sacrificing much, give up the daily latte at the coffee shop, or make your own food instead of buying pre cooked rubbish. Drink water instead of Cola. That sort of thing.

Debt free is a good place to be.

Good luck.