I need money somewhat fast... what to do?

[Ms. Toad]

60. Then borrow it using your credit card,

and pay it back immediately. That way you will be paying back only a maximum of ~30% per year, rather than an average of 3-400% per year.

I have always had money in a savings account, since my age was in the single digits. I get that a lot of that is luck - having educated parents, having parents who instilled the value of savings, that my parents (and grandparents) were savers (which makes it easier for me to learn to save, as well as having some expectation that whey they die, there will be some additional money available to me), I was able to afford college - and have enough skills and luck that I've never been involuntarily unemployed since I was 12.

BUT part of being able to save money is also being money-smart and recognizing when you are paying 3-400% interests rates and recognizing that it is a REALLY bad idea to do so - and recognizing that you don't have to take 9 years to pay off the cash advance on your credit card - just force yourself to repay it with your next paycheck, the same way you are paying someone to force you to do with a payday loan, by paying them 3-400% interest for that privilege.

My sister - who has not had a dime in savings most of her life - and who had the same access to luck and parental guidance/example that I did, has led life filled with what I think of as fancy phones, cars, and coffee. Every penny that came in the door was spent by the next paycheck. Finally - in her late 50s - she had the sudden realization that if she didn't go to her fancy coffee shop she could save $3-$4/day. She now, finally, has about $800 saved up (after only 6 months).

So some of having money for emergencies isn't luck, it is making smart choices about what to spend money on.

If you have access to a credit card, get the cash advance and pay it back with your next paycheck. If you can't pay the cash back immediately (but could pay a payday loan back), that is a discipline problem (like my sister has had all of her life). In that situation, you are paying an arm and a leg to make someone force you to repay the loan with your next paycheck. If you have access to a credit card, force yourself. It will be a lot cheaper.