When you’re in a financial bind even by a few hundred dollars, you can feel overwhelmed, particularly if you have some major monthly expense coming up, like paying your mortgage, rent, or car insurance, fixing a broken pipe at home, or repairing your car so that you can continue to get to work.
In some cases, you might have some options like using your credit card or dipping into your savings. However, it’s not uncommon for many hard-working people with regular jobs to lack even these financial resources to fall back on. If you’re living from paycheck-to-paycheck and don’t have any reserve financial options to fall back on, you’re not alone.
Although you might feel that you’re completely out of luck and there is nothing you can do, this is not true. Despite what looks like a bleak situation, you still have a few options to help you take care of your financial emergency before you get to your next paycheck.
Here are some ideas to consider:
- Get a personal cash loan from a lender.
Rather than using a payday loan provider, try payday loan alternative lenders because you can sometimes get installment loans of up to $1250. There are many benefits to these types of loans. You’ll get the money fast, rather than waiting for your loan to be approved over a course of days, even weeks, and you’ll be able to ask for flexible repayment terms. Moreover, qualifications for applicants are kept to a minimum. All you need to do be eligible is is to verify your employment or another source of reliable income, and have a social security number and a current checking account.
- Borrow from family or friends.
If you have family or friends who may have the money you need, then you could ask them. Sometimes, however, this can be embarrassing. It’s not only embarrassing for you but sometimes it can be embarrassing for them because they would like to help out but simply don’t have enough money. Still, although it can be awkward, it’s another option. If you do borrow money, be sure to pay them back as quickly as possible, even if they are generous enough to tell you to pay them back whenever you’re able. By paying them back quickly, you’ll strengthen the relationship and also relieve them of any financial pressures that they might have to face after loaning you the money.
- Have a garage sale.
You may have a lot of stuff around the house that you’ve been meaning to declutter for awhile. Now would be a good time to have that garage sale.
- Sell at an online auction.
If you have some collectibles, they can fetch a good price at an online auction. If you’ve never done it before, you’ll be pleased to discover that it’s fairly easy. All you have to do is to set up a seller’s account and list your item. There are help files and forums to help you out if you get stuck. Taking good pictures and describing your item in simple language, avoiding hype, is one way to move products quickly.
- Sell on websites with classified advertisements.
Another place you can sell online is classified advertisement websites. These work in a similar way to a classified ad in the newspaper, except that they are free and you can’t rely on the help of a telephone rep to write and post your ad. However, unlike a newspaper, you can add pictures to increase interest in your product. Interested people will contact you via phone, text, or email. You can then invite buyers to your home or meet them somewhere. Sometimes, too, if they are sure they want what you’re selling and don’t need to check out your items for sale, you can even drop it off at their place.
- Get a side hustle.
There are many temporary side hustles you could do for some quick cash. For instance, online you fill out surveys or sign up for small paid errands for others; and offline, you could tutor, do a weekend gig for a catering company, do housecleaning, or babysit.
Although we’ve talked about raising a small amount of money quickly to take care of an immediate financial need, if you’re in a situation where you need a larger amount of money within a reasonable period of time, then you could look for lenders who provide easy unsecured loans.