Time Poor – 4 Viable Options When You Need Cash Fast
Photo by Josh Appel on Unsplash
Sometimes a situation can arise where you need to come up with a significant sum of cash in a short period of time. Maybe the family pet has unforeseen vet bills or one of the kids needs an expensive item for school. It can be easy to drown in the stress and end up being entirely unproductive which leads to your situation spiraling into a much larger problem. Luckily, things don’t have to be this way. Here are four quick, relatively easy ways to drum up that extra cash:
Borrow It.
The most common way to deal with a situation like this is to take out a loan or put purchases on your credit card. While there’s nothing wrong with this, and you’re entitled to do what you need to do, borrowing terms and credit interest rates are less than ideal. Fast cash loans can provide the alternative that you need to help keep your head above water. Many new lenders have favorable terms and the interest you’ll pay back will generally be lower than what you’d spend to cover credit card debt.
Pay It Off Over Time.
Another option is to see whether you can place the unforeseen expense on a payment plan. This is generally the easiest way if you can make it work with whomever you owe the money to. Payment plans break down large amounts of debt into manageble chunks over a specified period of time. If this is not an option, however, placing household expenses such as the gas or phone bill on a weekly or biweekly installment plan can also help free your cash flow and buy you extra time. This tip is also great for those who find it hard to manage their budget in general, as paying necessary expenses off before they’re due can help lower what you need to pay out at the given time.
Sell Unwanted (Or Unneeded) Items.
Most of us have a few luxury items lying around the house that we could go without. Now is the time to assess the usefulness of any items that could be sold to help you get out of your financial situation. If it doesn’t add value or pleasure to your life, list it online and let it add value to your bank account instead. The same goes for any unwanted or unused clothing or toys that family members have outgrown.
Get A Side Hustle.
Lastly, if you can find the time around your other commitments, a second job, side hustle or even just doing odd jobs off local listing sites, can help boost your bank balance. Obviously the increase will depend on how much time you can devote to your second income stream but every dollar counts and soon enough they should add up to a point where they make a difference.
Don’t allow yourself to become disheartened by your current struggle. Almost everyone will face a time in life where they don’t quite have enough to make ends meet and sacrifice, unfortunately, is a part of life. Sit down and think about how these tips could help, and put those that you deem useful into practice straight away. The first step of any journey is always the hardest but if you keep a level head, and stay practical with your time and spending during this period of hardship, you’ll come out the other side relatively unscathed and stronger for it.
