Consolidating Your Savings and Expenditures
When you’re in a situation where you are in dire need of extra cash and you’re loan application was turned down, there are still hopeful ways to think through this following some of these helpful suggestions.
If you have several sorts of collectibles at home, it’s time to make use of them by selling them. Even if you get emotional parting with your collections, selling them is a better decision than getting into trouble financially. Look for auction websites or special sites that have all sorts of memorabilia items for sale or find private buyers for your items. Once you have decided on a good site, there are fees to be paid, either a listing fee or commission if your items are sold. There are also other means of converting your other items into cash. There are online companies that are interested in buying wine corks, toilet paper rolls, broken electronics, and even hair.
Get Cash by Selling Your Car
If you think that by selling your car will meet up your financial need, then go ahead and sell it. Aside from raising cash out of selling your car, you also save from freeing yourself from payment of road tax, insurance and fuel cost. You can choose the option of selling your car through companies that offer scrap prices for old models or you put your car on auction at an online auction website.
Look for Credit Loan Providers
If you have experienced being turned down on your loan application from the bank, you may try another option which is to look for loan providers who may be willing to loan out at a higher interest rate. Just be sure that you have weighed carefully the terms and conditions of the loan provider, including the interest rate.
Tap Your Assets
Some investments can actually be liquidated, depending on the stipulated terms. You can liquidate your life insurance by tapping the cash value of your premiums and exchange your insurance for a more inexpensive policy. Certificates of deposit may be cashed out ahead of maturity date but with a penalty of six months interest, that is, if you have such a deposit.
Hire Yourself Out
By hiring yourself out, you will add your earnings by looking for part-time jobs, such as baby-sitting, tutoring, dog-walking, pet-sitters, research assistants, and many online jobs that you can qualify in.
All these might be a tall order to pursue in, but it also takes taking the risk and effort in going through these hurdles just to get that cash to help you out of trouble.