As we grow into adulthood and financial responsibility, most normal people have experienced the feeling of having a truly well-wiped bank account. Looking at your bank balance can be a difficult affair after you’ve gone on a couple nights out at the weekend and didn’t realize how much money you’d spent. It happens to all of us.
Unfortunately, there are times when this is an unfortunate circumstance, and times when it’s a crippling circumstance. Maybe your rent is due, your car needs an emergency repair, or you need to extend a cash sum to a relative who’s in dire need.
It’s these moments that really make you wish you didn’t buy Margherita’s for the 9 people you attended the bar with. However, with a little cunning and fast action, there are ways around this.
Going for an online title loan might be your first option if you know that your payday is coming very soon. It will allow you to pay off the loan immediately, at a slight expense to quickly deal with the circumstance. If you have a good credit rating, you’re sure to be accepted for it. Be sure that you keep up with the repayments or clear the balance as quickly as you can though, to keep your credit report happy and smiling.
Bank of Parents
As an adult, asking the bank of Mom and Dad can be shaming, but it sometimes needs to be done. Make sure that you repay them just as fast as you would a loan service, because at the end of the day, no matter how cool they are with you about the situation, it’s never nice to owe money to your parents when you should be financially independent.
Try not to rely on them. However, one of the benefits here is that they’re unlikely to charge you interest, at the expense of looking like you can’t budget to your family. Don’t worry though, they’re sure to have done it themselves at some point in their lives.
Selling something is ultimately the most reliable way to grab funds quickly. Having assets in your household that you could turn around for a quick sale might be difficult to do emotionally, but it’s sometimes necessary. Learn to prioritize. Do you really need that games console, or do you more optimally need to pay your rental bills this month? No one said this would be easy, but it’s sure to help you out of a pinch.
If you know of anyone offering work in your area, sign up to it immediately. This also involves doing any overtime at your normal job if needs be. This could help you pay off the interest of a cash loan, or allow you to mitigate the late payment fees of whatever your initial financial responsibility was.
Being in debt thanks to bad budgeting is never a happy time. But, learning how to cope with it is part of what makes a responsible adult. Re-assess your weekly budget after you’ve solved this situation to help prevent it happening again in future. Also, try and save more. Reading financial advice blogs like this one is sure to put you in good stead. After all, managing finances isn’t easy. But it is your responsibility to learn how.