Ways to make $100 at short notice

Would you have a hard time coming up with $100 on short notice?

one hundred dollars

Would you have a hard time coming up with $100 on short notice? If so, you’re not alone.

Many Australians admit coughing up $100 to pay a speeding fine, medical bill or other unexpected expense at the drop of a hat would be a challenge. There there are many quick but  sometimes costly or dubious, ways of getting money in a hurry. And then there are better ways to obtain cash fast.

Best alternatives to making $100 fast

1. Peer-to-peer lending: this method connects borrowers to regular people who loan their money in order to earn interest on it. Websites such as SocietyOne and RateSetter enable your loan to be funded by individual investors. The interest rate is decided based on how much risk the lender is willing to accept – they also manage the paperwork and payments.

2. Credit union loans: when you’ve fallen on hard times, you can opt for a short-term loan from a credit union to help you get through. The good thing about this option is that even people with poor credit can still be considered. The benefit is that because they are member-owned, the rates offered by individual credit unions are lower than those the banks offer.

3. Small dollar loans: some community organisations are able to offer small loans of around $300 to $1200 through the Government’s No Interest Loan Scheme. This zero-interest option lets you make repayments over 12 to 18 months.

4. Ideally, have an emergency fund: ultimately, the most important thing you can do is set up an emergency fund for those unexpected expenses that inevitably pop up. If you have to start a fund from scratch, do so by starting a budget and putting a little money aside each week.

Worst ways to obtain money in an emergency

1. Payday loans: they might offer easy money fast but with extremely high interest rates and fees, payday loans are a fast track to financial trouble. They’re really the last place you want to turn, especially if you rely on an income that varies week to week. You only need to miss one payment to get yourself into hot water.

2. Debt settlement: like payday loans, debt settlement is best avoided. While for some people this method can work out, financial experts still consider it a risky option because it usually involves fees and strict, watertight contracts – if you miss a payment, you stand to lose your money, with none of it going towards paying off your debt.

3. High-interest credit cards: a slightly less predatory option is to get a high-interest credit card, which simply depends on you paying off the card on time. However, missing one payment can leave you having to pay fees plus interest. The good news is some credit card companies will help you obtain a lower monthly minimum so that you can avoid late payment fees.



    To make a comment, please register or login
    18th Jul 2017
    Get a credit card and have a savings account. If you can't do that then join the queue and be plundered.
    18th Jul 2017
    as others have pointed out this is about BORROWING money.....not a GOOD PLAN at all
    18th Jul 2017
    This article is not about "Ways to *MAKE* $100.00" -- it is about how to *BORROW* $100.00.
    18th Jul 2017
    I agree with you. The heading is misleading
    Old Man
    18th Jul 2017
    Yes Blossom and this site is getting more and more misleading. Yesterday's article about pensioner renting is a godd example of the whole truth not being given.
    18th Jul 2017
    Agreed - this is a terrible article. YLC please don't give oldies this sort of advice or allow it as an advertisement dressed up as an article.
    18th Jul 2017
    Seems YLC is sinking to low integrity journalism as exhibited by Woman's Day et al. The story leader on the cover bears little semblance to the actual story inside.
    PS I only know this as my wife buys WD for the crossword and I glance through the magazine when I want a lesson in how unprofessional journalism operates.
    18th Jul 2017
    I you are unlikely to be able to pay off a credit card before incurring an interest fee, a personal loan has a much lower interest rate.
    18th Jul 2017
    Misleading headline. You are actually getting yourself into more debt. Not to be recommended.
    18th Jul 2017
    This is totally misleading- borrow to make money?? If you cannot find $100 at short notice, then these methods are the WORST possible ways to get $100.
    What about the option of actually working?
    There are several websites which facilitate casual work & which I have often used.
    I expect much higher standards from this website
    18th Jul 2017
    Hi itchyfeet,
    May I have the links to these sites for casual work please ?
    Regards, Frank
    18th Jul 2017
    If you get a pension, interest free advances are available through Centrelink, Can apply on line, only takes about 5 minutes and is in bank account 2 days later. No interest and paid back over 13 pension payments.
    18th Jul 2017
    Still a loan - the article says make $100. Anyone on Centrelink payments can't afford to get a loan - even interest free.
    18th Jul 2017
    Quite agree. This is certainly not making money.

    I make $100 but not quick doing surveys. Like all things you have to complete surveys (work)

    This is a big trouble with this world everyone oants to make instant money without doing any work (or very little)

    This is the reason big scams work feeding on peoples need to make money with no work.

    Well people it does NOT! happen unless people are trying to do it unlawfully.
    18th Jul 2017
    Yep, surveys are good. Bit time consuming at times, but if you keep at it, you get a few dollars now and again.

    All helps to build up my emergency fund. You just need the discipline not to spend the money, but keep it specifically for emergencies. It takes so much pressure off, and gives you peace of mind.

    I also put a little away each week to pay for a few extras at Christmas. I don't buy presents etc any more, but it's nice to have some extra food. I buy the ingredients for Christmas Cake etc, one by one throughout the year to spread the cost.
    18th Jul 2017
    I agree. The headline is misleading. You still need to pay the loan back so if you do not have the spare cash for emergencies then how can the person find the money back to pay the loan off? Better to have emergency fund set up
    A. N. Onymous
    18th Jul 2017
    Add my name to those of you who have commented on the title.

    Misleading, to say the least.

    Is this "click baiting" by YLC?
    18th Jul 2017
    One way to MAKE money is to have a garage sale, there, problem solvered lol
    another way way to MAKE money, get a job at the mint.
    18th Jul 2017
    This heading is What Don would describe as Fake News, advertising loan company's in a so called "article". Describing what everyone knows as just common sense.
    18th Jul 2017
    This heading is What Don would describe as Fake News, advertising loan company's in a so called "article". Describing what everyone knows as just common sense.
    18th Jul 2017
    Every week-end there are these sales! At community halls/church's etc. Just load 10 things you don't need/or hate (or more) lol - stick 'em in your boot - charge $10 each - bingo! Easy peasy! Not rocket science............. :-)

    18th Jul 2017
    Amelia must be a leftie
    Thinks borrowing to spend is same as earning to spend
    18th Jul 2017
    lol GenY maybe? wink wink nod nod :-)
    19th Jul 2017
    Maybe Raphael, but a righty would borrow money, transfer it in their tax haven bank account then declare bankruptcy to avoid paying it back. Ever heard of a leftie operating a pyramid (or Ponzi) scheme?
    19th Jul 2017
    I have Eddy

    The problem with socialism (leftist policies) is that you eventually run out of other people's money.
    - Maggie Thatcher

    I that isn't the ultimate ponzi on a national scale , I don't know what is
    Ageing but not getting old
    19th Jul 2017
    Another way to MAKE some money (legally) may be to use Airtasker. Tasks are posted ongoing virtually 24/365. The people describe what they want done and give an amount they are willing to pay. Sometimes it's quite reasonable, sometimes not. Other people interested in performing the task can ask further questions and make a counter-offer of what they'd like to receive. Huge variety of requests: You can sit at your desk and see new things come in all the time. We all have some skills from employment, hobbies, training etc and they can be marketable. Australia-wide. Check it out https://www.airtasker.com/
    Kane Jiang Retirement Planner
    19th Jul 2017
    19th Jul 2017
    Looks like borrow $100 owe $1000 in no time at all, very misleading article
    19th Jul 2017
    Good option for short term loan is to use your existing home loan. If close to retirement and in the fortunate position where you can pay off your home loan, don't, keep it open!! Leave $1 in the account. You obviously have to pay it off but very convenient for short term cash flow problems. Check with your bank that you can redraw. You will save on interest big time ...
    20th Jul 2017
    Did a similar thing, paid off my home loan in full and the account was closed but I did not request, or pay the fees, to have the mortgage deleted from the Certificate of Title. Result was when one of my kids needed some financial help to buy a property I went to my bank and they said Okay, they already had the old mortgage documents so I had no set up fees to pay, and the funds were available within a few days. Too easy.
    PS If things don't work as planned then it will be a advance on their inheritance.
    Kane Jiang Retirement Planner
    19th Jul 2017
    Agreed to most sentiments, this article is about how to borrow fast. There are many 'unconventional ways' to make a few extra dollars though. Airtasker is one (as has been pointed out by "Ageing but not getting old" above. Others that came to mind include:
    1. Uber driving (and uber related work, such as deliveroo, Uber eats etc)
    2. Posting interesting video contents on Youtube - if you have large enough traffic, Youtube will offer to pay you advertising income.
    3. Trading (buying and selling) collectibles on Gumtree/Ebay, if you are a collector of certain items of interest this can provide extra income, I have done this.
    4. Rent out spare rooms to students, such as homestay, if you live close to university.

    Yes you can make $100 fast, but not THAT fast!.
    22nd Jul 2017
    Usually one does NOT need it fast.
    Like any bill, you can negotiate a extra time extensions without affecting your credit rating.
    Best policy is to NEVER BORROW!
    Wait until you have enough money!

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