Payday loans, sms-credits and similar can seem very tempting if hard strapped for cash, but they are only short-term solutions and the high interest only serves to aggravate the problem. Many people can testify to the horridness of rapidly spiraling down into the ever deepening pit of credits, interest rates and money collectors. A better alternative is to try to raise the cash by selling something already owned.
In some situations a person may also want to consider a loan – but not a high-interest loan. If a cash-flow problem is rooted in excessive use of expensive credit cards in the past, a home equity line of credit can be used get the interest rates down and start actually paying off the debt instead of simply costing a lot of money in interest every month. Using home collateral is risky, but in some situations it is the lesser of two evils. A home equity line of credit typically come with a much lower interest rate than credit cards, payday loans and similar, and can therefore help to get a bit more cash left each month.
Visit The Pawn Shop to Sell, Not to Borrow to Raise Cash Quickly
The rules regulating pawn shops vary across the world but in many jurisdictions they are allowed to charge quite a hefty interest rate on loans, despite the fact that the borrower is offering up something valuable as collateral. In dire need of cash it can therefore be better to sell stuff to the pawn shop rather than to pawn it. Some pawn shops never buy things upfront, while others are happy to do it. When calculating if the price offered is sound, take into account what it would cost to borrow the money instead and how great the chances are of actually paying back the loan and getting the valuables back. Being honest to oneself is the key here.
Sell Gold and Jewelry to Raise Cash Quickly
If a person want to sell gold, precious stones or similar, it is important to research the options since the price varies dramatically. Contact a gold smith directly, sell the precious items to private consumers, or send them to one of the major gold purchasers. Gold smiths can be located using the yellow pages while major gold purchasers can be found online. If the jewelry is in good condition the seller can often get more than just the gold value by selling it directly to consumers. If selling valuables online, don’t forget that jewelry ads with a photograph tend attract a much larger crowd of potential buyers than jewelry that is just described in text.
Raise Cash Quickly by Getting Rid of Old CDs
Listen to most music using a computer or mp3 player? Unload the CD collection to raise some extra cash. Keep in mind however that music stored on computers can vanish in the event of a hard disk crash or similar. Cds can be sold by either contacting a local shop for used records or use one of the alternatives available online. Just type “cash for CD” or “used records” into a search engine and see which business that offers the best deal. Another alternative is to use sites like eBay and craigslist.
Selling things to a pawn shop, gold to a cash for gold company and old CDs to local shops are all good ways to get some extra quick cash for the holiday season or whenever a need arises.