Desperate For Cash
Are you Desperate for Cash?
Are you in a bind and desperate for cash? Although the economy is starting to pick back up, it certain is slow at doing so and many people are still finding it difficult to make ends meet. If you find yourself unable to pay a bill, are threatened with foreclosure, or unable to pay for gas to even get to work, then you might be ready to consider a few less conventional means of procuring fast cash. For instance…
For some reason, society has a bad association with pawning stuff at these shops for extra cash, but it doesn’t have to be that way. Most pawn shops work in two ways: 1) they buy things from people for straight-up cash, and 2) they issue small loans for personal items which will be returned upon full repayment of the borrowed money. If you have some things of moderate value lying around that you think you can do without, then you might consider selling them. You would be surprised how much cash a DVD player, game console, musical instrument, a bunch of DVD’s or video games, or even excess furniture can bring in. Granted, you might not make a great deal of money from the sale of these or similar items, but every little bit can be lumped together to help you extend that disconnect notice or fill up your gas tank. If you have a real treasure on your hands that you are willing to let go of, then you might want to get it appraised before going to a pawn shop to ensure that you get a fair price for the item.
Alternatively, you can take the loan option that many pawn shops offer. When you’re desperate for cash, sometimes a quick loan on something valuable is just the ticket. This is where television sets, hi-fi systems, computers, ATV’s, and similar items can be used to generate quick bucks for your wallet. At most places, regular payments must be made on the loan, otherwise the item becomes property of the pawn shop and can be sold to customers. This is a great option if you just need a bit of cash to get you by until payday, however if you will not have the means to pay back the loan in the future, then it might not be a good option for you.
Garage sales are a terrific way to get rid of the things you don’t want any more while making a bit of profit at the same time. Go through your clothes and ask yourself which items are still useable but you no longer want. Items in the garage or storage shed can bring in a surprising amount of money, especially spare lawn equipment and unwanted appliances. Books, old game consoles, furniture, home décor, and other items may be trash to you but a treasure for someone else! Pick a weekend with a good weather forecast, post up a few signs, and call in some favors from your friends. There is nothing to lose when it comes to offering up your old things for purchase!
A payday loan is basically an advance on your paycheck—for a fee, of course. The idea behind this kind of program is to give the borrower a short-term loan until their next payday. Usually the length of the loan is a two-week period. In order to get a payday loan, you will have to show proof of income, which is usually two to four pay stubs, depending on how often you get paid. You may also be required to provide a cashable check for the amount of the loan in case you do not return to the store on repayment day. The problem with payday loans is that a fee is due upon repayment of the loan. This fee varies from state to state, however it is usually between 15 and 30 percent. If you are unable to pay this fee, you may have to renew the loan on your next payday, which could potentially turn into a “debt cycle” if you’re not careful. This option should probably be left as a last resort when you are absolutely desperate for cash now.