Most of us get to a point where our finances get on top of us and we really can’t afford certain things anymore. This isn’t always because we are bad budgeters or indulge in things we shouldn’t. Life simply gets on top of us. And then the end of the year arrives, with Thanksgiving and Christmas, and presents need to be purchased. At this point, things can really get too much. However, does this mean the kids won’t have a nice Christmas this year? Not necessarily, as there are options available to you.
It may seem like a bad idea to get into more long term debt if you are already struggling. However, sometimes needs most. Do make sure, however, that you have a plan in place to pay this debt off that goes above and beyond simply making the minimum payments on your credit card. Make sure, therefore, you also know the fine print and terms and conditions of your credit card before you max it out. In terms of your credit rating, it is best to never use more than 20% of the credit limit of your credit card if you can help it. Going over that percentage will have a negative effect on your credit rating.
Another option is to find payday loans direct lender options. While these lenders have gotten a really bad name because of their extortionate rates, the reality is that if you manage them properly, they are actually very beneficial. What you do have to do, however, is pay the loan back as agreed and don’t be tempted to roll it over. When you roll over a payday loan, you only have to pay the interest. However, if you do that twice, you have already paid as much in interest as the loan principal itself. Payday loans are very easy to apply for and the money can be in your bank account within a few hours, so they are perfect for emergencies. But treat them as such.
Selling Old Things
If you have enough time left to get some money together for whatever financial difficulty you are facing, then you should consider selling a few things. It is always better to find money from somewhere other than another loan. So why not hold a garage or yard sale? Not only does it mean you can earn a bit of money, it means that you can get rid of some clutter and other things as well.
As you can see, there are options out there for you. Be careful about applying for further credit if you can. During the holiday period in particular, short term lenders start to advertise their services very heavily. This means it is all too easy to be attracted by some sort of ‘special deal’ that is actually nothing out of the ordinary. Always read the fine print and always know exactly how you intend to pay any money back.