If you need cash in a hurry – and you don’t fancy doing time for attempting to rob a bank – it can be difficult. You might see a dream item of clothing in a sale or a bargain holiday but you can’t take advantage of the opportunity, ampoule as you simply don’t have the funds in your current account.
Help is at hand
Even those earning a high salary find themselves in need of instant cash. Most people plan their finances around their budget. If it’s near the end of the month, cialis the credit card is maxed out and the bank is going to take a couple of days to formalise an overdraft arrangement, treat you won’t be able to take advantage of any bargains, or have access to funds in an emergency. A solution to this problem is to use your car as collateral and look at logbook loans as an alternative method of accessing cash. You’ll still be able to drive your car; the loan company only retains ownership of your vehicle for the life of the loan. Once the loan has been agreed the cash will be transferred to your bank account within minutes. Unlike a payday loan, you can repay the money in weekly or monthly repayments.
Money in a hurry
If you are lucky enough to own some jewellery, gold coins or even up to date gaming consoles, then you can borrow money against the value of these items on any high street across the UK. Pawnshops have been in existence for hundreds of years. They were mentioned in early Tang dynasty texts in China, and there are English records, dating back to the fourteenth century, that note that Edward III hocked his jewels in order to finance a war against France.
According to the This is Money website, pawnbroking is currently booming in the UK. Money isn’t just lent against a Hermes handbag. If you have fishing gear, an unused musical instrument or any other item of value, you can enter the pawnshop with these goods and borrow money against them and leave the shop clutching your precious cash. You will lose your valuable if you don’t redeem the pledge, but this resource can be very useful if you are in need of some instant cash.
Other options for instant cash
Payday loans used to be a useful resource for those in need of instant cash, but new regulations imposed by the Financial Conduct Authority (FCA) mean that fewer applicants will be approved for this type of loan. The interest payable on payday loans is also exorbitant. Don’t be tempted to put your faith in scratchcards either – even winners have often forked out an awful lot of money before they bag a prize, such as this woman in The Daily Mail.
Car boot sales are another way of supplementing your income, but there’s no guarantee that everything you have on your stall will sell. Perhaps, in the long term, saving a little money on a regular basis is the best option for ensuring that you always have access to a pot of cash when you need it at short notice.