We’ve all been there before. The bills are due, the cupboards are bare, there isn’t a buck in the bank, and payday is six days away. It’s a situation nobody wants to find themselves in, but when it happens, they need an effective solution.
The best solution, of course, is to have more money. That’s easier said than done, yet it’s not impossible. What’s more, individuals have several options when it comes to getting cash in a hurry.
The following are five to consider:
Loans
Borrowing money is one of the most popular ways for people to get the cash they need but don’t have. To get a loan, one must be approved, and to be approved, one must apply. There are loan places in Albuquerque and other major cities willing to work with those with poor credit. Traditional banks are more likely to require excellent credit history from potential borrowers before approving a small loan. Regardless of where they come from, loans need to be paid back in-full and on-time. Failure to do so can result in late fees, surcharges, and a drop in your credit score.
Credit
Many people choose to use credit cards sparingly or as a means of building credit and nothing more. However, in the event of a financial emergency, credit cards can prove vital in finding a way to pay for a significant expense or essential items. It’s always best to pay your balance off at the end of every month, but it’s okay to allow carryover now and then if it’s for a good cause. Just make sure to have a repayment plan in place; avoid paying the minimum monthly balance to more quickly pay off the debt.
Gigs
Do you have a car and a smartphone? If so, there are dozens of gig economy opportunities you can try to earn some extra cash. Become a driver for services like DoorDash, Grubhub, Instacart, Lyft, or Uber. Signing up is simple, and you’ll be earning money in no time. Better yet, most services allow drivers to transfer their earnings into their bank accounts instantly. That means it’s possible to have the cash you need after only a few hours of work.
Selling
Most of us don’t have previous valuables just lying around the house, but chances are we have items we aren’t using that can be sold fast for cash. An old camera, television, or gaming console can be sold online or pawned locally. The same goes for power tools, kitchen appliances, and certain types of furniture. Go through your home and make a list of items you’re okay parting with, and list them for sale as soon as possible.
Slashing
Streaming services, subscription boxes, and similar monthly arrangements have most of us dishing out hundreds of dollars every year on things we don’t use and probably don’t even want. If you want access to quick cash, cancel some of these subscriptions. It will hurt less than you think. What’s more, most of these services allow customers to suspend and resume without a hassle, making it easy to cancel something you like with the intent to renew later on when things are more financially stable.
Being short on cash is never fun, nor is the process of getting out of financial trouble. However, it must be done. Better yet, there are several ways to do so. It’s just a matter of finding the right option for your situation.
