+1-786-628-7980
Sign Up/Sign In 
With inflation at 40-year highs, you might be finding that your paycheck isn’t stretching as far as it once did. Fortunately, there are plenty of ways to get the money you need quickly such as leveraging your home equity or applying for small loans. Here are five financial tips if you need money now:
Installment loans are short-term loans that give you a lump sum of money. They often let you borrow several hundred or thousand dollars, and some will even deposit the funds the next day. Then, you’ll pay back the funds on a monthly basis with a fixed rate of interest. Installment loans are also unsecured, meaning that they don’t require any collateral like your car or retirement fund. You’ll just need a decent credit score or the help of a co-signer.
A cash advance is a small dollar loan that can help tide you over until your next paycheck. With these loans, you can typically receive a few hundred dollars. Then, you’ll pay back the loan plus interest in two to four weeks, on your payday. Many cash advance lenders have online applications that you can complete in just a few minutes. If approved, you can receive the funds you need as soon as the same day you apply.
A home equity line of credit, or HELOC, is when a lender allows you to tap into the value of your home and use it like a credit card. Instead of getting a lump sum, you can use it whenever you need so you’ll have control over how much you borrow.
During what’s called the draw period (10 to 15 years), you’re only required to make payments on the interest. After the draw period ends, the entire balance will come due and be paid back as an installment loan over the next 5 years or so.
Have you been saving for retirement using a workplace plan such as a 401k? If so, then you might be able to borrow as much as $50,000 from your nest egg. 401k loans have to be paid back within five years and will be subject to what the IRS calls a reasonable rate of interest. Check with your company’s HR department first since plan administrators have to approve the loan first.
When all else fails, you can always ask family and friends for financial assistance. Be polite and never demand or leverage your connection with them to force the issue. Be sure to put all of the terms in writing so that it’s official and you’re both protected. Also, never miss a payment because the last thing you’ll want is to have it damage your relationship with this person.
When you need money fast, a few good places to turn to are installment loans and cash advances. Borrowing against your home equity and retirement savings will also be resources you can tap. And if all else fails, reach out to her family and friends for help.
