Running out of money is never fun. Yes, you should have had savings left aside. Yes, you should have budgeted better. But what use is all that now. Even if pay-day is a long way off, you can still get out of this mess by acting carefully and logically. Here’s how:
Clear out the freezer
With no money to spend on food and drink, you’re going to have to survive on what you’ve got. Even if you do decide to borrow money, it may not always be an immediate transfer. Fortunately, most of us have forgotten foods hiding in our freezer. Munch through these first before borrowing money to buy extra groceries.
Take to the web
There are lots of ways to make money fast on the web. You can sell possessions on Gumtree and on Facebook buy and sell groups and get people to collect from you. You can take paid surveys online that may earn you a little extra on the side (not all survey sites pay instantly, but some do). You may even be able to lend a skill via Fiverr such as designing a website for someone or photoshopping a picture.
Tell your friends and family
Don’t hide the fact that you’ve got no money from your friends and family. They may be able to lend you some money to get by until payday. If anything, they may be able to provide lifts or simply come round yours instead of you coming round theirs.
Ask for an advance payment from your employer
Some employers may be willing to pay you in advance, especially if you can’t commute to work. Whilst this can be embarrassing to ask, not being able to turn up to work due to not being able to afford the commute could have worse implications. You may even be able to ask for a portion of your monthly payment if you don’t want to be paid the whole thing.
Consider a loan
Signature loans may be able to help you get by until pay day. Think hard about how much you need – borrow too much and you’ll have more interest to pay back, borrow too little and you’ll be stuck in the same position soon. Shop around for loans online and look out for ones applicable to bad credit if you think your credit score is low.
Start budgeting your spending
Once you’ve borrowed the sufficient money that you need, it’s important to abide by a strict budget until payday as you don’t want to fritter it all away again. Consider making cutbacks to your spending that will allow you to pay off any debts you now owe. Once you can, start saving so that you always have an emergency blanket to prevent something like this happening again.