Need Money Now? Boutell is a Broker Who Can Help!
If we have a sudden need for money, then it is not surprising that we might get into a panic. Unless we have the money for whatever emergency it is that we need it for, we may wonder where to turn. Getting stressed is a natural response, but unfortunately it can be problematic. It can mean that we will be very emotional and when we are in this state it is not easy for us to think clearly or logically. This means that we may make unwise decisions and get the money in a way that is not really suitable for us. It is wise to therefore take a methodical approach.
- Assess how much money is needed – firstly you need to think about how much money you need now. It might be that you need to pay a bill, buy an item or something like that. Find out exactly how much this will cost you to start with. Make sure that you compare prices, if you can, so that you can make sure that you only try to find the exact amount of money that you need. For example, if you need to replace your fridge that has broken, you need to think about where you will buy it from and what brand you buy so that you do not pay more than necessary for it. You should think about value for money a bit as well. You do not want to buy something that will wear out or break quickly and then find that you need to replace it quickly and have to find the money to do so all over again.
- Consider whether you have that money – next it is important to check to see whether you have the money. This might seem really obvious but if you need money now and are stressed about it, you can sometimes forget about the most obvious of things. So, make sure that you have a careful look in all the places that you might have money This means your purse, bag, under the mattress, bank accounts etc. Make sure that if you have savings you spend them on this. It can be tempting to think that you have worked so hard to build up those savings that you should not use them or that you have them to buy something specific in the future. However, this could be the best time to use them as it will get you out of trouble and stop your panic and your need for money now.
- If you need to borrow look at options – if you do not have any spare money then you will need to borrow it. You should look carefully through your borrowing options so that you make sure that you make the right decision. It can be hard to do this methodically when you are so worried, but it is really worthwhile. You will find that you will be able to choose an option that suits you really well and is able to give you the money that you need as quickly as you need it and make it easy for you to repay it as well. This might sound like it will take a long time but you do not have to spend that long doing it.
When it Comes to Borrowing – You Have Several Options
It is likely that there will be a selection of borrowing options available to you. These can be basically split into two categories.
- Borrow from people you know – it might be possible that you will be able to borrow from people that you know. Some people are able to turn to parents, other relatives or even friends if they need money. This could be a cheaper option for borrowing for a lot of people and that is why it is used. You do need to think before turning to this option though. This is because you will need to think hard about the consequences of doing this. It could have an impact on your relationship with the person that you are borrowing from. They may find it hard to manage financially themselves and expect the money back quickly or they might have less respect for you because you have had to borrow money.
- Short term loans – short term loans and instant loans in the UK are probably the best option if you need money now. This is because they do not take very long to arrange and so you get the money really quickly. If you look into longer term loans, you will need to go through a long application process which may just take far too long to be able to get you the money for when you need it. They may also lend you much more money than you need, which will mean more expense and longer repayment period. If you do decide on short term loan, you will have several to select from and it is important that you find the one that is most suitable for you. You will find that there are differences between them with regards to cost, whether you need a good credit record, repayment terms and the lenders as well, which means that it is important to understand what your options are so that you can make the best choice for you.
Different Types of Loans and Credit
- Credit cards – a credit card is a very useful type of short-term loan in some circumstances. It does take a while to arrange one though, so if you do not have one already then you may not be able to get one in time. You will also normally need a decent credit rating to get one. You can use them to pay for items and then you will only need to repay a small minimum back each month which means that you will be able to hold the loan for a long time and not worry about repaying. However, you will find that it can be an expensive way to borrow and if you use them for drawing out cash, which might be necessary for what you need the money for, this will be really expensive.
- Overdrafts – an overdraft is also something which can take time to arrange and so unless you already have one, it may not be something that you can sort out quickly enough if you need money now. However, if you do have one it can be a way to get the money that you need. It is worth noting though that overdrafts can be some of the most expensive ways to borrow money and so it might be an option that is worth skipping.
- Payday loans – weekend payday loans are very quick to arrange. This means that they can be ideal if you need money now, in fact they were designed for people to use in an emergency. There are a lot of loans that you can choose from as well as many lenders. In fact, there can be so many that it can feel rather daunting. However, if you are in a hurry the credit brokers such as Boutell can be helpful with this. They will be able to find the loan that best suits you. So, if you let them know how much you need to borrow, how you want to repay and any other important features you want from a loan or lender, they will be able to then match that to the best lender for you. This will make the work of finding a payday loan very much easier as you will not have to do this research yourself. Doing it yourself will take a lot of time as you will have to find every lender and then search through their terms and conditions to find all of the information that you need. Not only will this take a long time but it will also be very tedious.
Need Money Now? It’s Important Not to Panic
So, it is really important to make sure that if you need money now that you do not panic and pick an unwise solution. Think about the different solutions that are available to you so that you can find the one that sits you the best. It should not take you that long and hopefully will mean that you will not end up paying more than necessary and will find something that will have a repayment plan that will also suit you well. It can be hard to think logically like this though when you are stressed and worried. If you find it really hard thinking methodically then you could ask a friend to help you out or go through the stages above one by one so that you know that you have covered everything. Hopefully it will mean that you will find a good solution and will not have to feel stressed and worried for very long.