Methods Of Raising Instant Cash |
By Darryl Power |
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The inability to come up with the necessary cash when suddenly
presented with a "can't miss" opportunity, is one of the most
frustrating experiences anyone ever live through. Yet, there are
literally hundreds of ways to raise unlimited amounts of cash in an
hour or less! You may not be aware of many of these cash-raising
methods we're about to describe for you, but they are all legal and
any one of them could be the answer to your money needs the next
time you have an opportunity to get in on the ground floor of a
sure-fire winner. The important thing is to be aware of the
possibilities, and then to position yourself to use them when the
need arises.
Almost everyone uses plastic credit cards in
place of money for the purchase of many of the things they want and
need. Most people aren't aware though, that in addition to
merchandise and services, you can also buy money with these credit
cards.
The "Cash Advance" privilege of these cards is
actually the best and easiest way to raise cash - immediately and
with no questions asked. Generally, most people can write themselves
a check for at least a thousand dollars against these credit cards
and with no questions or quibbling relative to the amount requested.
With an American Express card, you can even write yourself a check
for $2,500 with no argument. Now then, if you have 10 of these
credit cards, and you needed $10,000 - all you'd have to do would be
to write 10 different check for $1,000 each - a $1,000 check against
each of your credit cards with this cash advance privilege - present
the checks at each of the banks sponsoring the credit cards, and
you've got the $10,000 you were needing.
Besides the no-fee
cards such as MasterCard and Visa, there's a growing number of
travel and entertainment cards such as American Express, Carte
Blanche and Diners Club.
Your annual income and credit rating
has to be higher than for many of the others, and they charge you an
annual service charge for the privilege of using them, but the
amount of cash you can draw against them is much higher. For
instance, with an American Express "Gold Card," you can draw up to
$5,000 in instant cash, immediately with no questions asked. In
addition to the "cash advance" privileges of most credit cards, most
modern bank accounts include an automatic overdraft provision. This
amounts to the privilege of your being able to write a check for
more than the balance you have in the bank, and the bank honoring
your check by merely loaning you money to cover the amount of the
check.
In effect, this is an immediate and automatic loan to
you - without questions. Most of these "check guarantee" accounts
will cover you up to at least $1,000 and if you have 3- such
accounts, you can write three $1,000 checks, and be on your way with
whatever you need instant cash for . Another source of money is your
circle of friends and relatives. Therefore, it's always to your
benefit to make friends, encourage them as necessary, and keep them
believing in you. One of the easiest of all money-raising ideas to
promote amongst your friends and relatives is the sale of "private
stock" in your idea or project. For instance, if 100 of your friends
and relatives were to give you $100 each, you'd have $10,000 with
which to either jump into or launch a new venture.
And
by-the-way, it's always important to have at least 3 people you can
count on to co-sign a note or loan for you if the need should ever
arise. Loans against life insurance policies are another source of
"no questions asked" instant cash. You simply borrow against the
cash value of the policy, and in most cases, the interest you pay is
far lower than against other loans, plus you never have to pay it
back nor will your insurance policy lost value, so long as you keep
the interest payments up to date.
Still another avenue to
explore is the feasibility of using your insurance policy as
collateral when you don't seem to have enough unassigned collateral
otherwise. If you're buying the home you live in, and have a
conventional home mortgage, you can often-times borrow against the
equity you've built up. Generally speaking, if you buy a home for
$50,000 - live in it and make regular payments on the mortgage for
10- years - the value of your home has probably increased to the
neighborhood of $100,000 and conceivably, you could borrow $50,000
against your equity. In these times of tight money, this is a most
intelligent method of coming up with the cash you need to start a
new business.
There's also a lot of possible instant cash
just lying dormant in people's attics, basements and garages. Go
through all the things you've got stored - you may find valuable
heirlooms, priceless antiques and collectibles that other people are
looking for, and willing to buy from you. And, don't forget all the
money you've loaned out to friends, neighbors and/or relatives over
the years - check your memory and get in touch with these people -
ask for repayment.
Finally, if you're wanting to start a
business, and you've got your business plan all together, don't be
afraid to take it in and show the people at your commercial bank.
These banks - as opposed to regular savings banks - are always on
the lookout for new businesses to invest in, and are willing to take
risks they'll welcome you with "open arms" and can really help. |
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