Preparing for the holidays themselves is a stressful time, especially for those on tight budgets. Although it may seem like the Christmas tree may not have any gifts under it, there are ways to make holiday cash. Consider a part-time seasonal position at a local establishment based upon your skills and abilities. If this is not an option, consider one of the options listed below.
Make and Sell Crafts
If you are crafty, plan to attend a few craft fairs. Take your crafts and price them fairly. Also consider creating a theme that corresponds with the time of year that it is. This will help you make more sales. Something else to consider the type of craft you can offer. It is best to offer something that is non-traditional and what others are not doing. The more unique your craft is, the more intriguing it is to consumers.
Offer Winterization or Holiday Decorating Services
Elders and those that are disabled are likely to have difficulties winterizing their homes or setting up holiday decorations. You can charge a small fee for these services and provide a valuable community service at the same time. When it comes to winterizing a home, it is best to assess the situation in the home first and come up with a plan. Discuss this with the homeowner and make plans to get the job done.
There is a high turnaround rate in the restaurant industry. Delivering pizza is not below you when your income is not sufficient for holiday shopping or events. You will receive tips, an hourly wage and some establishments also offer mileage reimbursement. This part-time job can just be on weekends or whatever your personal schedule permits.
Take up Writing
If you are good with words, looking into a few content mills or private writing services is another option. Many content mills pay weekly or bi-weekly. A few do pay daily. It is best to read the terms and conditions of the service to ensure that you can provide the content they need for their clients.
Of course there is always to traditional method of getting a loan from sites like Needmoneynow.org. But with these other options, you can completely avoid having to consider a payday loan or auto title loan. Earning the money you need is more satisfying than just getting a loan and having another payment to worry about. The holidays can be very expensive, so start your extra money earning efforts soon so that enough money is made with plenty of time to shop for gifts and special food items.
Payday loans are advertised as a way for those strapped for cash to obtain money for minor financial emergencies. Typically, the only requirements for obtaining the loan are having a job with a steady paycheck and having a bank account. The money is loaned out in exchange for a post-dated check for two weeks later, the typical interval in which an employee gets paid. Unfortunately, instead of helping people out of difficult financial positions, these loans often cause people to go deeper into debt in a vicious cycle of obtaining and repaying the loans. Here are some of the most common problems encountered when taking out payday loans.
The Loans Have Extremely High Interest Rates
Payday loans have some of the highest interest rates of any type of financial product offered to consumers today. In many cases, the loans have been found to exceed 300% APR, where as credit card interest rates rarely go higher than 25% APR. The extreme nature of the interest rate is somewhat hidden by the short repayment time and the interest charge is often rolled into a “fee” for obtaining the loan. When the interest rate for a payday loan is calculated the same way as an interest rate for a personal loan or a credit card, the discrepancies between the amount of interest charged for the same amount for the same amount of time is staggering.
The Loans Have Extremely Short Repayment Windows
Most payday loans must be repaid within 14 days of the loan being issued and it can be very difficult for a borrower to come up with enough additional money to pay off the loan in addition to their other financial obligations within that time period. In many cases, the borrower ends up taking out an additional payday loan to cover the original loan and the associated fees so that they can also pay all of their other bills. This can create a vicious cycle of debt that can continue to build on itself for months before it is eventually paid off for good.
The Loans Often Must Be Rolled Over
If you are unable to make the payment on time without significant financial hardship, many payday loan lenders offer the option to roll the loan over for an additional two week period for an additional fee. This can be dangerous as you pay much more in interest charges and fees when you roll the loan over from week to week over and over. The money that you are paying to the loan company in interest is money you are not saving for your own future financial needs, putting you at greater risk of needing to take out additional high interest loans in the future.
While taking out a payday loan may seem like the best option when you are desperately seeking a solution to a financial emergency, nearly every other option that may be available to you, including borrowing from loved ones and seeking emergency assistance programs, will be better for you financially in the long run.
Every day, advertisements bombard us from all angles to entice us to buy the things that companies want to sell to us. In some cases, the purchases made actually add value to our lives, but many more of our purchases do little more than suck money out of our pockets. It is important to be able to distinguish between the purchases that add value to your life and the purchases that don’t. Here are some purchases that fall into the former category.
Everyone has had one of those days when they get home from being out all day and do not feel like taking the time to cook dinner. For many people, this means stopping for takeout on the way home or having food delivered to the house later in the evening. A crockpot or slow cooker is insurance against this type of wasteful spending, as takeout meals generally cost more than three times as much as cooking the items yourself. A crockpot meal can be put together early in the day and will cook your meal for you while you are occupied doing other things. Over the course of a year, a crockpot can save you hundreds of dollars in food costs.
A Programmable Thermostat
A programmable thermostat can save you a significant amount of money in energy costs by raising and lowering the temperature for you automatically. You can set the thermostat to keep the heat or air conditioning off while you are gone at work and to turn them back on shortly before you are scheduled to return home. The amount of your savings will depend on the size of your home, the climate of the area that you live in, and the temperature that the thermostat is set for.
Personal Financial Management Tools
Managing your finances effectively can be made much easier with the acquisition of personal financial management tools. These tools take some of the more tedious financial management tasks, like tracking your spending, creating a multi-category budget, or calculating your current net worth, and streamlines the process so you can see your financial positions at a glance. Some of these financial management tools are free online, like Mint, while others require the purchase of specific software programs. Because these programs can save you a considerable amount of time and money, they are a good tool to have available for everyday use.
Buying a home is a significant step financially, so you will want to make sure that you are doing everything right to get the best deal that you can on the home that you want. In order to get ready to buy a home, there are several actions you can take that will help you get what you want and prepare you for the tasks ahead. Some of these actions focus on making you more attractive to lenders while others will focus on getting you an affordable home for the best price.
Improve Your Credit As Much As Possible
One of the best things to do before you buy a home is to improve your credit as much as possible. Higher credit scores qualify for lower interest rates from lenders, potentially saving you thousands of dollars in interest over the life of the loan. Review your credit report for any incorrect information or negative information that could impact your ability to buy a home. Reduce the amount of your available credit you are using by paying down or paying off any credit card balances you are carrying and paying interest on. Use credit sparingly before purchasing your home and resist applying for additional credit cards or loans as it will negatively impact your credit score.
Create A Categorized List Of Desired Features
Before you head out to start looking at homes, you should already have a list of desired features made that categorizes them in order of importance to your happiness and your planned future. If you are moving to a new home to start a family with a new spouse, then the number of bedrooms and the school district the home is located in may be the most important features for you to look for. If you do not own a car, then access to public transportation and proximity to necessary services may be features that you will focus on. Having a list prepared will shorten your search and increase your chances of buying a home that is right for you both now and in the future.
Finding the home of your dreams only to find out that you cannot qualify for a loan big enough to buy it is one of the worst feelings in the world. To avoid this disappointment, it is better to get preapproved for a loan through your desired lender. Going this route will let you know exactly how much home you can afford and you can begin your search with homes that you know are within an affordable price range.