We’ve all been there even though we’ve been careful. That forgotten bill, the car breaking down, or the expensive suit we damaged and had to replace – these are the unexpected costs that crop up from time to time. They often can’t be helped, but covering the cash required isn’t always easy. In an ideal world, you would have a healthy savings account with instant withdrawal. If your savings aren’t available, what are the other options for reaching cash in a hurry?
Sell At A Good Price
Selling items you own at a very attractive price will bring in some cash. Of course, nobody wants to sell their possessions. And selling at a price below what you feel it’s worth hurts even more. There are stores that will guarantee a purchase of your CDs, DVDs, or other generally low-value items. Pawn shops might take more valuable items. None of them will give you the best price you might want, but it might give you some of the cash you need in a hurry.
If you already have loans or mortgages, you might not be keen to borrow more money. And if you’ve ever had problems repaying debts in the past, you might be very reluctant to take on more right now.
There are several different types of loan you might be eligible if you feel this is the route for you. The first is a loan from a friend. These can place great strain on the relationship, but friends help each other out when they’re in trouble. The second type of loan is a personal loan. Some, like the King of Kash loans, don’t require a traditional credit check. This means they might not leave a credit trail. A third option is borrowing from your existing lines of credit, such as your agreed overdraft or credit card.
There are various costs for each type of borrowing. It’s important you check you can afford to repay the total amount owed as well as any instalments due.
Freelance, Contract, or Temp
Taking on extra work might see you with pay the same day, or within the week. Put a card up in your local store offering your services. You might walk dogs, clean windows, mow lawns or undertake handyman repairs. Payment is usually made in cash on completion. Contact a local recruitment office and ask for any temp work going. Payment is often made at the end of each week, but you might have a higher tax code at the beginning. Register with a freelancing website like Fiverr to offer your services. The payments are not immediate but might come in quite quickly depending on the site.
When a big bill comes in, you must negotiate a payment plan if you’re struggling to cover the whole sum in one go. This can buy you time to find more cash if necessary. Most utility companies and other businesses are willing to help you out rather than see you simply not pay. It works out cheaper for everyone. How do you find the cash needed when the unexpected happens?