It’s a horrible feeling if you find yourself in a situation where you need some extra money fast. Whether it’s an unexpected bill, family emergency, car repairs, home appliance breakdown, or even just a miscalculation on your part, there is a sudden financial gap that you need to sort out.
The good news is that there is usually a solution. That solution depends on how much you need and how quickly you need it. So in this article we take a look at a few different options that may help, depending on which situation you are in.
If the amount of money you need to find is relatively small, perhaps a couple of hundred pounds or so, you may well be able to find it just by using your own resources. Here are five ideas that may help:
If you have a few days’ leeway, it is worth checking around locally to see if there are any opportunities for temporary extra work. For example, casual work in a pub or restaurant, or at summer events. Or do you have particular skills or experience that you could offer locally such as babysitting, pet sitting, cleaning, gardening, decorating or DIY?
Take a quick look around your home to see if there is anything you don’t use that you could sell. Most things can be sold online, and if you use local social media sites such as Facebook Marketplace this is a good way to get money fast as you will mostly attract local buyers, so could have your item collected and paid for within hours of listing it.
Many people are not aware that pawnbrokers still exist, but they can be a good way of raising funds on a temporary basis. Pawnbrokers operate both from shops and online. The idea is that the pawnbroker will lend you money in return for items such as jewellery, coins, cameras, musical instruments and electrical/tech items. If you are able to repay them within an agreed timescale, you will receive your item back. Otherwise they will sell it to get their money back.
According to the UK Gift Card and Voucher Association, around £300 million goes unspent each year in gift cards, vouchers and store credit in the UK, an average of around £156 per person. So have a good look around. If you find any unused gift vouchers you could either use them to do your normal shopping to help you out, or sell them online at a site such as Card Yard. Also check whether you have any unwanted gifts in your home that you could return to the store for either a refund or credit note.
According to recent research by Greene King, the average person in the UK is likely to have up to £26.99 in either loose change or forgotten cash lying around their house. The most common place in which to find this cash is coat pockets, followed by handbags, pots or piggy banks. And if you find cash, it can be taken to a bank or a Coinstar machine in a supermarket to be converted either into larger denomination coins or notes, or into supermarket vouchers. Also check for any foreign currency you may have lying around : notes can be taken to a bank or travel agency and exchanged for sterling.
If your need is more urgent than above, and particularly if you need a larger amount of money, perhaps £1000 or more, the best solution could be to look at same day loans. Yes it really is possible to get loans same day! You just need to know where to look.
For example, Munzee offers same day loans of between £1000–£5000. You can apply online and the process is simple, straightforward and quick. Once we receive your application we will make an instant lending decision, and if your loan is approved we aim to get the money into your account the same day.
The repayment period for our same day loans is 24 months. But this doesn’t mean that you have to keep the loan running for that length of time. For example, if you know that your finances will be sorted in a few weeks or months, you can repay us in full then and we won’t charge you anything extra for doing so.
You may also have heard of short term loans and wonder whether this would be a better solution. But you are likely to find the interest rate and repayments on a short term loan are both quite high, whereas with one of our same day loans they are lower. And of course, you can repay us whenever you want, so you can make the loan as short term as you like.
We hope that the above ideas help you to find a way out of your current financial situation.
If you do want to look at same day loans, check out our loans same day page here.
Do visit us here again soon for more financial and lifestyle tips from Munzee Loans.
Five steps you can take in a financial emergency