With the economy taking its toll on everyone, it’s only natural that people are experiencing financial crises almost every day. These financial crises cause you to run short on cash and eventually, paying your bills becomes a bit of a problem. Of course, the creditors do not want to hear this and most often are not able to budge on the amount you owe. To solve this problem, there are resources available that you can take advantage of to come up with cash quick. Here are a few ways to get the cash you need to pay your bills.
Many people try to take out personal loans to cover any financial troubles they may be experiencing. There are a few ways you can do this:
Borrow from a friend or family member – friends and family members may be able to help you out during this rough time. Do not go over or call expecting a handout. Instead, explain your situation, and have a plan in mind to pay them back. Make sure you stick to this plan, otherwise you run the risk of destroying a relationship and no amount of money is worth that.
Borrow from the Bank – If your financial troubles have not yet trickled down to affect your credit, you can certainly try to borrow from the bank. Be warned, though, that personal loans are more difficult to take out than any other type of loan. You must have a nearly perfect credit rating with few or no blemishes. Personal loans are not for big balances, but rather smaller loans to float you by. Make sure that you can afford the monthly payment that comes along with the personal loan. Chances are if you are already in financial trouble you will not be able to carry a high payment, so just like borrowing from a friend or family member, make a payment plan and stick to it.
We have all heard the horror stories of payday loans. You borrow $500, instantly in your bank account within 24 hours, yet you pay back twice, or in the worst case scenarios, triple what you borrowed. Despite the despicable practices, it often boils down to bare necessity – it becomes a necessary evil. If you do borrow using a payday loan, be prepared to have money taken out of your bank account each week, on schedule, whether you have it or not.
Billfloat is a service that floats your bills for up to 30 days. The way it works is you sign up for the service and enter all of your bill information – account number, amount owed, etc. Then you tell the company – Billfloat – how you plan to pay them back and in what time frame – the max is 30 days. You should ensure that you have the funds in a month’s time, because as funny as it may sound – they will not float their own bills!
Pawn Electronics or Jewelry
If you have any high value goods, you may consider pawning them for extra cash when your bills are due and you have no more options. When you opt to pawn your goods, make sure – if you want them back – that you tell the shop you only want to pawn them – not sell. If you opt to sell your items, you will not be able to get them back if the pawn shop has already sold them to someone else. It is not advisable to try to pawn or sell vintage items or family heirlooms if they have a lot of meaning behind them. Should you not be able to return and claim your items, you are going to find yourself on the losing end of the deal – regardless of whether your bills are paid or not.
Coming up with extra cash can be difficult, but in a pinch, there are several ways that you can try to come up with the money. Be diligent in your efforts and you will likely come up with a few more ways to score that cash. Remember, where there is a will, there is always a way.