How To Raise Cash In A Hurry
Need to raise cash quickly? Why is it that life can be going great and then something will always pop up to put you in a panic? Money worries are one of the worst causes of stress. They can turn up at any time, and cause you sleepless nights trying to figure out a way to solve it. It’s unpleasant and can upset the balance of your home budget. Perhaps you have a plumbing disaster and need to pay a big bill to the plumber? Or maybe your car needs replacing urgently so you can get to work each day?
There are lots of reasons why we may suddenly need to raise cash quickly. So how can you do it?
Raise Cash From Assets
Many people struggle to cover the everyday cost of living. We can’t all afford to put cash away for a rainy day. But if you have got a savings account somewhere, this is the best place to start raising the money you need. If you have stocks, shares, bonds or other assets, now is the time to cash them in and cover this big bill. The last thing you need is to miss the payment deadline and have legal proceedings brought against you.
Family And Friends
Sometimes you have no choice but to head to the bank of Mum and Dad to raise cash. Our parents are often wealthier and more comfortable than we are. They may have a savings account they can dip into to help you out. If you are going to borrow from family and friends, it can put a strain on your relationship. It is essential you keep to your word about repayments if you think you may need help from them again. It’s not pleasant to lose trust with the people you love.
Raise Cash From Borrowings
Loans often come with a lot of red tape and forms to fill in. However, they are a way to raise cash when there is nowhere else to go. Instant cash loans are easier and provide you with the money you need immediately. Shop around to find one that suits your circumstances. You will need to pay interest on a loan, and you’ll need to make sure you can afford the repayment plan too. But it can be the best option when you need a lot of cash at once.
Credit cards don’t tend to have the huge limits on them that they used to. Dividing the bill across several credit cards may work, but this can easily max out your cards, leaving you with nothing to live on. Applying for a new credit card often takes a few weeks so you may not have time for this option. Overdrafts rarely provide the ability to raise cash but is unlikely to be a good option. If you do currently have a positive balance in your bank account, do not empty it beyond what you need to pay your regular bills.
Sell Sell Sell
Selling things in a hurry can be done online, or by holding a tabletop sale. This is a good way to raise cash you may need urgently. Sometimes an employer is willing to help you out with an advance in your pay or an employee loan. Repayments are often taken directly from your salary so you’ll have less take-home pay.
