Starting a home is an exciting time for a young family, and is something that many of us look back on with rueful smiles. I think that many of us would have approached our first homes in different ways if we had a second chance, and would probably not have been so caught up in the heady rush to have the “perfect” home. Many people get themselves into great financial difficulties and add to the outrageous figures that revolve around personal debt, simply because they get carried away with spending; which eventually leads to an inability to balance your household finances, and the juggling around of payments. Luckily, if you have not over extended too much, this is generally a short term problem that can be handled by raising a little capital for the short term. If you have the odd month where you find yourself unable to pay all of your debts, there is no need to panic, and here are a few ways you can raise money quickly and easily.
Sell Your Hoard
Take a look around any home and you will find that we are all hoarders. We seem to love to keep things that we don’t need simply because they are ours. Furniture, clothes, electrical goods, and even toys. Go through your things and sell anything that isn’t necessary to you. Advertise the good stuff online and have a yard sale for the rest. You could generate hundreds of dollars doing this, which could help you out of at least one hole
Yes, pawn shops. You will be surprised how much money you can raise on a visit to a pawn shop, and also at the variety of items they will allow you to pawn. From antique jewelry, to your smart phone, you can raise money easily and quickly. The best thing about this is that you will raise money without actually losing your possessions; though you will need to buy them back.
Car Title Loan
Here is a way to raise a few thousand dollars over a short term period, and one of the best ways to use the money you have tied up in assets. Some of the best car title loans from LoanCall.com and similar firms will give you plenty of money to use to suppliment your finances when you are in need. These types of loans are short term, so you will need to be able to pay it back relatively quickly.
Talk to your bank manager and try to arrange an overdraft facility on your household account, but be careful about using it. Too often an overdraft becomes a long term loan which ends up costing a fortune. If you make sure that you use it only for the real purpose you have arranged it, then an overdraft can be a blessing. However, if you simply use it and never pay it off it will become another burden and an extra bill to pay.
Using your family as a way to cover short term expenses is fine as long as it doesn’t become a regular thing. Families love to help each other out, which is after all, part of being a family. However, if you are asking for money every month, then you could find your family’s patience running a little thin. This is the cheapest finance you will find and most family members understand how difficult it can be to run a home.
The best way to keep your home finances in order is to spend within your means and never go into debt, but this is not as easy as it sounds (here is a great advice sheet on managing your money). It is often the unforeseen that sets us back financially, and a medical bill could be the cause as easily as could a payment for the local spa. Be careful with your money and you can build a future, but be reckless, and you could find your future crumbling around you.