Top 5 Ways to Borrow Money
During these tough times many of us are finding it increasingly difficult to make ends meet. With the cost of living increasing and individual pay rises becoming a rarity, money doesn’t seem to stretch as far as it used to. In order to maintain a decent cash flow for your household, long term cut backs and changes need to be made to your lifestyle. Sometimes however, it takes a single utility bill or unexpected car bill to tip your finances over the edge. At this point, you may seek quick ways to borrow money online or the high street for a financial fix to your money troubles.
When you find yourself in a situation like the one explained above, you’ll be tempted to look at fast quick solutions in order to pay off your debts. However, finding a quick fix can prove to be very costly if you don’t do your research first – desperation can cloud your judgement. Before borrowing any money, be sure to guarantee your cash advance from a trusted source beforehand. By doing this, you decrease the chances of being stung at a later date. The following shortlist provides a few safe solutions to make money online:
1. Credit Cards
A long standing staple amongst the financial world is the credit card. Providing you have a solid credit history, credit cards are widely available as a way to borrow money online. Credit cards also allow you to take a cash advance (fees apply) instantly for use with purchases. You essentially create your own personal loan at a respectable interest rate, which can be paid back at the agreed interest rate. If you are travelling abroad, a credit card is a great safe way of making purchases as you’ll be protected by the card company against fraud. Be sure to let your credit card company know that you’ll be travelling abroad to avoid having your card “frozen” – It does happen.
Unfortunately, credit cards aren’t the best option for those looking for a loan for bad credit. If you fall into this category then one of the other options below could work better for you.
2. Payday loans
Recent controversy in today’s media has left the payday loan in a very negative light. There’s some truth in the media questioning whether a payday loan is as bad as a “loan shark” – if you don’t treat payday loans with respect then you’ll quickly realise that they aren’t an effective way to borrow money online.
Ensure that you are able to pay the payday loan back within the allocated time period – If you doubt for any reason that you’ll be able to meet the payback deadline then we suggest you seek an alternative means of borrowing money. High accumulated interest rates from unpaid payday loans could cause you serious long term problems.
Payday loans aren’t a recommended way to make money fast, especially if you’re seeking loans for bad credit. As mentioned later in this article, try seeking help from a family member or dedicated firm.
Preparation and warnings
The above options are a handful of some of the ways to safely borrow online. It’s important to keep savvy when browsing the internet for quick “cash in hand” schemes, as more often than not they are designed to catch people out.
The internet is rife with unscrupulous individuals out to take advantage of web surfers, especially when it comes to money. The following bullet points should help you avoid disaster when borrowing online:
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