In the best of all possible worlds, of course, it might be the intention of every one of us to maintain a “rainy day” fund to cover those totally unexpected domestic crises and emergencies that call for unplanned expenditure. Like many of our best intentions, however, that fund may be depleted or even non-existent. What to do?
- much is likely to depend, of course, on just how immediate the emergency might be;
- even though your emergency fund may have been depleted, there might still be a chance for you to build it up once again to meet the impending crisis;
- you don’t need to be storing treasures in your attic to make a car boot or garage sale a worthwhile prospect – you might be surprised by just how many unwanted or unused items are lying around the house, and just as Wikipedia explains, a car boot sale is a quintessentially British market place;
- in this day and age you don’t even need to leave your house to earn a little extra cash – don’t go to the car boot sale, but bring the car boot sale right to your house through ebay, for example;
- depending on the reasons for a current shortfall in ready cash, you might even consider approaching your local council for help on a wide range of matters such as employment, benefits, tax or general money matters;
- with avenues such as these – and any others – well and truly exhausted, however, or with your need for a little extra cash unable to wait any longer, you might want to consider a further alternative;
- that is the short-term cash advance that is sometimes also known as a payday loan;
- as in practically any walk of life, of course, there are reputable short-term lenders and others that may be less so;
- you may find one of the more transparent of these lenders at wonga.com;
- the transparency of the reputable lender lets you see exactly what you are committing to – how much you need to pay for the loan, exactly how much interest you need to pay, the cost of any administration, set-up or money transfer fee, and the date on which your loan is repayable;
- so that you are not forced into borrowing a penny more than you need, for example, you might want to ensure that you are able to borrow the precise amount;
- similarly, so that you are not paying interest for a day longer than you need to, you might want to ensure complete flexibility regarding the repayment date for your loan – including the freedom, without any penalty, to repay the amount earlier than scheduled if you so choose;
- finally, of course, you might want to pay particular attention to the interval between your making an online application for such a short-term loan and the funds actually arriving in your bank account – some lenders aim to do this within five to fifteen minutes for example.
When you do not have an emergency fund, therefore, there are a number of options you might try, confident in the knowledge that, if needs must and with a little care and responsibility, a short-term payday loan might be the answer.