Do you need to make $25k fast?
While there are tons of ways you can make money in the gig economy, $25,000 is a significant amount of money.
In this post, I'll explore how to make $25k fast, ways you can make money online, and much more. Let's get started!
- Selling your home or vehicle
- Taking out a loan with ZippyLoan
- Withdrawing money from retirement accounts
- Ask friends or family for money
12 Best Ways to Make $25,000 Fast
1. Take Out a Loan
If you need $25k quickly, taking out a personal loan is probably the easiest and fastest method available.
However, it does come at a cost. Personal loans can have extremely high interest rates and penalties – so it's critical to have a plan to pay it back ASAP.
My favorite platform to secure a personal loan is through ZippyLoan. You can get approved in minutes and have money in your bank account as soon as the next day.
Before committing to any loan, be sure to carefully read the terms and conditions of the loan so you can understand exactly how much it's going to cost you.
I always recommend using a personal loan as a last resort option, but if you need $25,000 fast – this is the easiest way to get it.
2. Sell Your Home
If you own a home and have equity in it, selling it is one of the best ways to make a quick $25k.
The average American home value is around $375,000 – so you could certainly make $25,000 if you've owned it for some time.
Now, this isn't going to be nearly as fast as other methods, and it's certainly going to be a lot of hassle to sell your home and move – but it is effective.
Just remember that when you sell your home, there are fees that come with it. Unless you plan to sell your home yourself, you'll need to consider the cost of hiring a realtor which typically costs around 8% of the homes selling price.
Additionally, some homeowners might be forced to pay taxes on the gains that are made when selling the home. It's best to speak with an accountant or tax professional to see where you stand with taxes.
If you do need money desperately, you can always use the excess funds to rent a home or move in with friends and family in the mean time.
If you need another reason to consider selling your home, check out the average selling price of homes in the United States in the chart below. You can see that it's exploded over recent years offering you a great return.
3. Sell Your Car
Selling your vehicle is another great way to make $25k fast if you have a car that's worth a decent amount.
If you live in a major city, there's a good chance you can find a buyer for your car within a few days.
For example, check out this car for sale near me listed for over $25,000.
Depending on your situation, selling your vehicle might be an easy way to get quick money when you need it, but you'll need to secure transportation another way.
4. Start a Business
Starting a business is a great way to make a tremendous amount of money – but it's not for the faint of heart.
There are many different types of businesses you can start to make money, and some of them don't cost a fortune to get off the ground.
The key is to find something you're passionate about and have experience in so that you can stay motivated and offer a great product.
For new entrepreneurs, I recommend starting a service based business because these can cost very little upfront and can make great money.
For example, starting a car detailing business can cost less than $500 to start and you can easily make $250 per week or more.
In order to make $25,000 fast by starting a business, you're going to need to put in a significant amount of work and time but it is possible.
Additionally, the money you make operating a business is just one of the ways you can profit from your venture. As your business grows, you can eventually sell it for an even greater profit.
The amount of the sale will depend on many different factors, but for many service businesses, you can often sell them for 1 times annual revenue. This means if you business makes $500k a year, you could sell it for $500,000 (or potentially more)!
Not sure what business to start? Check out the video below!
5. Sell Things Around Your Home
Depending on the things you have laying around your home, you might be able to scrounge up $25,000 by selling some of the things you have.
To be honest, it's going to be tough to find $25k worth of items around your home you don't need, but for some people it might be possible.
Some items that you might consider selling include:
- Electronics like televisions, computers, cell phones
- Antiques and collectibles like Pokeman cards, Yugioh cards, and sports cards
- Power tools and outdoor equipment
- Furniture and larger items
Again, you probably won't make all $25,000 by selling things, but it can put a nice dent into your goal.
6. Start a Side Hustle
Side hustles have become all the rage over recent years, and for very good reason.
Making money in addition to a full time job can bolster your ability to save money, pay off debt, and reach your financial goals much faster.
Fortunately there are plenty of side hustles that anyone can start even if you have no money.
For example, picking up a delivery side hustle like Doordash can be a simple way to earn extra money each week just by driving your car.
Or you could opt for a remote side hustle like becoming a virtual assistant.
How much can you make?
Ultimately, it's going to depend on the side hustle you do, but I know many people who make over $1k a week from their side hustle alone.
Some side hustles can pay more than others. For example, I'm a big fan of freelance writing or working as a virtual assistant. I've found that these can be easier to find work and can pay quite well.
I know some freelance writers who now make a full time living from their side hustle. For example, check out what these writers are charging for their time on the popular freelance site Upwork. Not bad!
7. Start a Blog
Looking to make some extra money online? Blogging is one of my favorite digital side hustles that can be extremely lucrative.
There are many benefits of blogging both monetary and non-monetary, and the cost to start a blog is extremely low.
In order to make $25k from blogging, you’ll need to generate a lot of traffic to your site.
This can be done through SEO, social media, or other marketing channels like email marketing. But it's going to take some time.
Once you have a significant amount of traffic, you can start monetizing your blog through display advertising, affiliate marketing, or selling products or services.
There's no denying it will take some marketing wizardry in order to make $25k fast from blogging – but it can be done with the right strategy.
In general, it's better to be patient and not rush your efforts when it comes to online business. In many cases, it can take around 6 months before you start seeing results from your efforts.
However, once you start seeing results, your income will begin to grow exponentially.
Check out my income through display advertising for one of my blogs over the past month.
Making $6000 a month online can truly be life changing. It's allowed me to quit my job and quit the rat race.
Check out my guide on starting a blog for more help or check out the video below!
8. Flip Websites or Domains
Did you know that you can flip websites to make money?
Just like other forms of flipping, the process is relatively straightforward if you understand what you're doing.
First, you'll need to find a website or domain that you believe is undervalued. Once you've found a few potential options, you'll want to fully vet them based on whatever criteria you think is most valuable.
If you deem that it is a solid digital asset that you can improve, it's time to purchase it.
After you own the websites or domains, it's time to start making some changes and improving their performance.
This could involve improving the content, redesigning the website, or making other changes that will increase its value.
Ultimately, your goal is to increase the websites monthly income. This can be done through many different methods like optimizing the monetization of the site or just trying to get more traffic to it.
Once you've increased the income of the site, it's time to cash in.
You can use platforms like Empire Flippers or Flippa to sell your site and profit the difference. Just remember the costs of selling when considering your sales price. For example, check out this site listed for sale for almost $200k!
Flipping domains and websites can be an extremely lucrative digital side hustle that some people can do full time if you have the right skills.
Mushfiq makes a full time living flipping websites so if you're interested in getting started, you can find great content from him!
Failures & Successes over last 3 years of The Website Flip…
— Mushfiq (The Website Flip) (@TheWebsiteFlip) July 20, 2023
Success:
– Go-to expert of niche site M&A
– 15K newsletter
– EasyWins, EasyDiligence, 3 courses
– Consulting
– 2 Facebook groups
– WebAcquisition M&A agency
– WebOperators operations agency
9. Get a Part-Time Job
If you're in need of quick cash, getting a part-time job is one way to make it happen.
There are many different types of part-time jobs you can do to make money and while you won't get $25k overnight, you can make a consistent income from your work.
There are tons of different part time jobs that can pay decent money. For example, many retailers and coffee shops are now offering part time employees over $15 an hour for their time. While this isn't going to be enough to make $25,000 quickly – it adds up.
10. Invest Money to Make Passive Income
While investing should never be a get rich quick scheme, it can be a great way to make money over time.
There are many different types of investments you can make, but some of my favorites include stocks and real estate.
You can use a platform like Arrived to invest in rental properties with as little as $100. You can expect to earn around 7% to 10% from your investments but the real benefit is that you'll make money doing nothing.
Similarly, investing in the stock market with a platform like Acorns can be another easy way to earn passive income doing nothing.
Acorns allows you to get started with just $5, and you'll get $10 free when you make your first investment making it worth your time. You can invest in index funds and ETFs to keep your portfolio diversified and balanced so you can build long term wealth.
If you plan to invest money, remember that it's a long term game, so don't expect to make money overnight with this method.
11. Find a New Job
Sometimes when you land a new position you can receive a sweet signing bonus that can amount to $25k or more.
While it's not guaranteed, if you're in need of quick cash – a new job with a signing bonus and larger salary could be just what you need.
And even if they don't offer you a signing bonus, the increase in pay could be enough to make a difference.
12. Cash Out Retirement Accounts
If you're desperate for money, cashing out your retirement accounts can be a simple way to make $25k fast.
While I don't recommend this option as it can jeopardize your future retirement plans, if you're in dire straits – it might be worth considering.
Cashing out a 401k or traditional IRA will come with taxes and penalties, but if you're in a bind – the money might be worth it.
The tax penalties when you withdraw from your retirement accounts can be significant, so make sure you understand the implications before making any decisions.
There are some instances when you can avoid penalties, like using the money for certain medical expenses or if you become unemployed so be sure to check these out before making a withdraw.
13. Ask Friends and Family for Money
If you're in a big cash crunch, asking friends and family for money might be worth considering.
While I don't recommend this method unless using it as a last resort, it's one of the easier ways to get money fast.
Just be sure to have clear expectations about if and when you plan to pay them back to avoid any awkward family gatherings.
Final Thoughts
If you're wondering how to make $25,000 fast – there are many different options to make some extra cash when you need it.
The key is to focus on methods that will generate the most money in the shortest amount of time.
Selling your car, starting a business, or taking out a loan are all viable options if you need to make $25k fast.
Whatever method you choose, be sure to plan ahead and take the necessary steps to ensure your success.
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