Are short term loans the best solution to help bridge the gap until payday? Probably not to be completely honest. Let’s face it – they can be useful if you’re caught short and you’re unable to pay a bill or you’re faced with unexpected expenses due to that “unforseen” emergency.
But are payday loans the best solution to help you last until payday because you’ve overspent on your credit card or you’re simply out of cash? To be brutally honest with you – no. If you’re struggling to make ends meet then payday loans will probably not help your situation and you could find yourself getting into even more debt.
Unfortunately this is something that a lot of lenders will not tell you – especially at the moment with the large number of families and even young single people struggling through existing debt, low incomes and high inflation.
So what alternatives are? You could simply tighten your belt, cut back spending on non-neccesary, luxury items. But, here at Creditwindow, we’re realists. We understand that it’s never as simple as that – everyone needs to splurg on themselves every now and then.
So – you could try selling some of that unwanted gold, silver, platinum jewllery. There are loads of “cash for gold” companies out there willing to take your unwanted jewllery in exchange for cold hard cash.
Creditwindow understands that these cash for gold adverts look a little – cheesy or downright dodgy but they are for real – believe it or not!
If cash for gold doesn’t appeal to you then what about online pawn brokers? Look at Borro – they offer cash for anything you want to pawn, be it a television, an expensive watch or some other unwanted gadget. Borro are probably one of the most respected pawn brokers out there so they’re at least worth loooking at if you’re considering it.
Last but not least – payday loans. Ok, let’s look at the payday lenders out there. You have PaydayUK and Wonga – two of the bigger and more trusted loan companies and are certainly worth considering if you have to go down that “dark path.” Just remember to pay the loan back at the end of the month otherwise the interest costs could be extremely high.