Not many people like to get in the trap of debt as this cycle can be hard to get out of.
So what are some alternatives to getting fast cash? Do you really need that new item? A good thing to do is to ask yourself - do you really need that new item you are borrowing money for? A lot of the time we buy on impulse and this is an emotional buy, so often if we allow some time to pass we will realize that we didn't need that item after all and it was better not to get it.
Have you Done a Budget? If you are looking at borrowing money or getting a cash advance, chances are you are over spending - maybe trying to keep up with the neighbors? To not get into financial trouble you should work out what your budget is.
This is really easy to do.
All you need is two columns.
One column showing your needs - that is rent, or mortgage repayments, petrol, food, etc.
The other column shows your wants - money to go out, money to buy goods, money to spend on luxury items like brand name clothes.
Then you can clearly see how much you are spending and how much you need to or want to get the items on your wish list.
Are you Good at Saving? Can you save money? If you can't you should learn how to.
Save a percentage of the money you make and invest this money in assets.
That is things that appreciate in value.
Usually property or shares are fairly good assets.
A new car is definitely not an asset and will depreciate in value.
Ask Your Friends and Family Ask your friends and family for a small loan.
Organize a regular repayment scheme and make sure you pay them back.
Usually they will try and help you out as much as they can.
Use a Cash Advance as a Last Resort Cash Advance loans normally have the highest interest rates of all the types of financial products.
So you really don't want to get into the debt trap with them if you have to.
Look at a lot of other options such as selling your items or working a second job before you go for the Cash Advance.
Remember to save some money in a high interest bank account so that you always have a sum of money for emergencies if required.