Unexpected Bills? Five Ways to Find the Extra Money
When faced with extra and unexpected bills, many struggle and are lost as what to do or where to turn. This is a shame and one should not feel too worried. In fact, with these five ideas, one can find extra money to meet a one-time unexpected financial problem.
Pawn shops
When looking for quick loans, a person should use a pawn shop. With this, a consumer can drop off electronics or other items and get money in return. Then, in the future, when one’s financial situation improves, they can get their item back and pay off the loan quickly and easily. Remember, this old school method still works well.
Credit card loan
When going to a credit card company, one can find a short-term loan immediately. Of course, this can get costly if a consumer does not read the fine print and understand the terms. This is perfect when a person does not have great credit and cannot qualify for other loans. Without a doubt, credit card convenience checks offer a great way for a consumer to save money in the long run.
Auction sites or classifieds
With auction sites or Craigslist, one can sell their items and bring in cash quickly. Since most consumers have stuff lying around, they will not have a hard time finding the cash needed to pay a bill. To do this, one should take an inventory of their house and garage. When doing so, a homeowner can find thousands of dollars in items to sell on the Internet.
IRA
When a person has a ROTH IRA or regular one, they can sell some stocks and take out some cash. This is an easy way to save money and avoid paying for it come tax time. However, it is wise for a person to talk to his or her tax attorney and make sure that this is a prudent idea.
Friends or family
A person who only needs a few hundred dollars should speak to friends or family. This is an easy way to get some cash without taking on a big loan. One must realize that it is wise to pay off the loan and avoid skipping out on this as it will create problems in the future.
Sell Clothes
There are a lot of clothing shops that will buy back any brand name and designer clothes. There are definitely some things in your closet that you don’t use often. If you don’t have anything a second hand store would buy back, look through your closet to see if you have anything that hasn’t been used yet. If you do you can take it back and in many cases the store will give you cash back.
Babysit
It is likely that you have friends that are willing to help you out when you need some extra money last minutes. Most people feel uncomfortable asking though, so offer your services to them in exchange. Babysitting is a service that people that are parents are always looking for. Be upfront with your friend about your situation and then ask if they could do some babysitting and odd jobs to payback for the money.
Cash in Reward Points
Most people forget they their credit card has reward points. Take a look at how many reward points you have. You may be surprised at how much you have on the card. If your card is through your bank they can transfer the reward money into your account in a matter of minutes.
When faced with a short-term cash flow problem, one should think a little harder. With these five methods, a person can get the needed funds to fix the issue.
Category: Debt, Family Finances
It’s sometimes really hard to cover those bills, especially if there is an emergency bill like a major car repair or, even worse, a medical emergency. So sometimes you do find yourself going into debt while trying to stay afloat. But the sooner you can get out of that debt, the better your future will be. At http://www.mutualfundstore.com/financial-obligations-debt, you can learn how debt can impact your financial future for your retirement. Hopefully by the time you get ready to retire, you won’t be dealing with mortgages, car payments, student loans or the like.