Short-Term Cash-flow Fixes That Work

cash-flow

Cash-Flow Fixes For The Right Now

We all have those occasions when we suddenly find ourselves on the brink of monetary disaster, either through a moment of financial misfortune or a life circumstance that threatens to push our cash-flow budget to the brink. Realistically, the why isn’t particularly important– it’s the how you deal with it.

There are a variety of options when you need to raise funds in a short amount of time; some of them you are no doubt familiar with, either through having read about them or even used them yourself. So while there’s choice for what to do to cover the financial cracks on a temporary basis, how viable are those options?

 

Below, let’s examine some of the most common ways to raise money in a short period of time, and give them a grade on how realistic they are as financing opportunities.

 

Option One: Asking Family and Friends

This is usually the first port of call for most people when they’re struggling financially, but let’s be honest: It’s not a pleasant experience. It’s embarrassing, and there’s always the worry that someone might lend you something you can ill afford.

For these reasons, it’s impossible to grade this option as anything higher than 5/10. It might work, but it’s such an unpleasant experience to have to go through, it’s likely to be an option you will want to avoid.

Option Two: Payday Loans

Payday loans are relatively easy to obtain, but they really have their downsides. The main downside is usually the shockingly high-interest rate, which can snowball if you are not careful to repay the full amount on time.

For this reason alone, payday loans earn themselves 4/10. It’s possible to obtain them, but the long-term financial costs can be overwhelming.

Option Three: Non-Standard Loans

Jewelry and car title loans are some of the best choices for short-term loans. Companies like Bell Gardens loan you the money you require, with you using a piece of jewelry or car title as collateral. Lower interest rates mean they are far more affordable than payday loans while being just as simple to arrange.

We’ll give non-standard loans an 8/10, with points dropped because you actually need jewelry or a car title to secure them– if you don’t have these, then this obviously isn’t an option for you.

Jewelry and car title loans are some of the best choices for short-term loansClick To Tweet

Option Four: Offering A Service

If you’re short on cash-flow, then starting a small business — such as dog walking or cleaning — can seem like a good route to get you back on track. You don’t need to spend much in the way of advertising — a few Facebook ads or ads on free listing sites will suffice — and there’s a chance you can make the decision to give it a go and be earning money the next day.

This is a good idea, but has one downside: The huge time commitment. Due to this, it’s impossible to give offering a service more than a 7/10.

 

In Conclusion

Hopefully, the list above will be useful the next time you are considering your short-term cash-flow options. Now you know what will work, and more im, ortantly what won’t, you can target yourself towards a money-raising opportunity that is going to be able to help you fight through the financial setback you find yourself battling.

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