Need Access To Some Money Fairly Quickly? These Tips Can Help!


Money makes the world go around. We need it to buy stuff, and when we work for people we get rewarded with it for our efforts. Some people think a system of bartering for goods and services is better than paying for them. However, there’s no sign that will happen anytime soon.

The sad truth is that there is an unequal distribution of wealth in the world. Some of us happen to have lots of money while others struggle to pay the bills each month. Thanks to today’s volatile economy, employers aren’t paying people as much as they should.

That means people can struggle if a large and unexpected bill pops up. If that sounds like you, don’t despair. There are plenty of ways to get your hands on the extra cash you need for such situations. Today’s blog post will give you a few examples to help you get started:


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Get a pay day loan

These days one of the most popular ways to get some extra cash when you need it is to take out a short term loan. The way they work is simple. They are the same as conventional loans, whereby you borrow a fixed amount and repay it over an agreed term. The money you pay back is usually with interest.

In the case of pay day loans, the main difference is the term. Because they are short term loans, you pay them back within one or more months. They can provide a lifeline for people with bad credit because lending criteria is more relaxed with such loans.

As with all borrowing, you need to make sure that you can afford to pay back the money when it is due. In other words, don’t take out such a loan unless you can 100% be certain that you’ll soon have the cash to pay it all back as agreed.

Remortgage your home

If you need to get access to a substantial amount of money, and you own the property you live in, you should consider remortgaging it. In a nutshell, a remortgage is just another mortgage. You can borrow up to the value of your home, and pay off the existing mortgage with it.

The less money you owe on your mortgage, the more money you can unlock from your property. In some cases, it’s possible to get a negative equity remortgage. This is where you borrow more than the value of your home. It’s not as common to get such borrowing these days because of affordability reasons.

I recommend approaching your existing mortgage provider first of all. They might even be able to offer another solution, such as a secured loan. As long as you can afford any new payments on your home, it’s a good way to raise the extra money you need.

Get a car on finance and sell your existing one

There will be times where you’ve got some spare cash each month, but not enough to pay a significant or unexpected bill. If you are a car owner, there is a way to raise some money and get yourself a new vehicle at the same time!

What you can do is get a new (i.e. brand new or used) car on finance and sell your existing one. The money you raise from the sale of your existing vehicle can get used towards the debt you need to pay.

And if you’ve got enough spare cash to cover the payments each month, a car on finance will mean you could drive a newer vehicle. It might sound like a questionable way to raise some money. But it means you can pay off that large bill and still have a car to drive.

If your credit rating is good, you will also pay less interest on the car you finance. Sometimes you could even get a 0% interest deal on car finance, but you usually have to put up a large deposit of say 40%.


Image Credit: Neon Tommy (Wikimedia Commons)

Pawn valuable jewellery

If you’ve not heard of the concept before, pawning jewellery refers to the practice of borrowing money against the value of it. The pawnbroker (who lends you the money) keeps hold of your valuables as security until you pay the money back.

It’s not something that I would recommend unless you’ve not got any other alternatives. That’s because if you don’t pay the money back in time, you risk losing your jewellery for good. Should you find yourself in that situation, you can get a new agreement drawn up to extend the term. To do that, you will need to pay the outstanding interest on the money you’ve borrowed.

There are plenty of pawnbrokers around, so make sure you choose one that offers you the best price for your items.

Get a credit card

Another way to borrow some money and pay it back later is to get a credit card. You will doubtless know what a credit card is, so I won’t bother explaining what one is!

If your credit score is OK, you can have your pick of the market. It’s no secret that there are plenty of credit cards that you can apply for, so it’s worth seeing which one offers the best deal for you.

For example, some credit cards offer 0% interest on purchase for the first nine or twelve months. Others might pay you cash each time you buy something from an approved retailer.

Another useful thing about credit cards is that you can withdraw money from them when you need to do so. The only downside to that approach is that you might get charged a withdrawal fee for doing so.

Before you apply for a particular credit card, be sure to take the time to learn what the fees are for it first. That way, you won’t end up buying stuff on a credit card that has astronomical interest rates and fees!

I hope the guide you just read has been of use to you. Thanks for reading!

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