Family Finances: 4 Emergency Funding Options When Money is Tight

Even though you might try hard to be financially responsible, you never know when a financial disaster could hit your family. It may never happen, but it never hurts to be prepared in the event that it does happen. 

If you have found that your family is going through a bit of a financial crisis, you might be unsure of what to do next. Luckily, though, you do have a few options for acquiring cash while in a tough situation.

1. Head to a Pawn Shop

One option that you can look into is heading to a local pawn shop. One option is to sell old items that you don't want any more for cash. 

Then, you do not have to worry about paying anything back, which can be a bit of a relief when you're going through a tough financial situation. Different pawn shops are often interested in different things, but in general, you can often sell jewelry, electronics, musical instruments and equipment and other similar items of value in these shops. 

If you don't want to permanently part with these items, you can consider a pawn shop loan, which is a collateral type of loan in which you leave your item at the pawn shop until you're able to come back and make your payment.

2. Take out a Cash Advance

If you have a paycheck coming your way but need the money now rather than later, a cash advance can be a good option. Companies like American Cash Advance and Title Loan might be able to help you out. 

With a cash advance, you can generally borrow an amount equal to your paycheck until payday rolls around. Even though you might have to pay interest and fees for the service, it can be worth it if you need to get your hands on some cash immediately.

3. Look into a Title Loan

If you have a car that is paid for, a title loan might be a good option for you. With this type of loan, you use your car's title as collateral for a loan. Then, you can borrow the cash while still driving your car in the meantime. 

This can be a good option, particularly if you need to borrow a larger amount of money. This is because lenders will often grant more on these types of loans, since you are using your car to back up the money that you are borrowing.

4. Take on Odd Jobs

There are always a few ways that you can make some extra money. One of those ways is to take on some odd jobs. This could include going to a temp agency and see what they have available, to just doing something around your local community or neighborhood. You can do little things such as mowing lawns. 

You could even help out with some light landscaping. If you go that route, start with your own yard. Do a good job and take pictures to show your neighbors and other perspective people in your community. 

Ask if you can do something similar for their yard to help make it look nice. However, be somewhat flexible with how much they are willing to pay you. After all, some money is better than no money when you have fallen on hard times financially.

As you can see, if you and your family are going through a financial crisis, you do have options. These are three options that you can look into if you need to get your hands on some cash fast.

How Car Enthusiasts Can Save Money on Their Next Vehicle

For a car enthusiast, buying a new vehicle is exciting. A new car may be your second biggest monthly expense after housing. You can save money on your purchase with these four tips.

Consulting Consumer Review Websites

One great way to get more information about a make and model of car is to visit consumer review websites. There are paid review websites that require a subscription in order to receive all of the available information, or you can visit some of the more informal review websites. 

On these sites, you can get information from people who have actually driven and owned the car that you are thinking of buying. You might find out pertinent details such as whether the car has a recurring issue with its brakes or if it is more of a gas guzzler than expected. 

Finding out this information ahead of time could help you steer clear of a car that is known to have costly problems, frequent maintenance or repair needs or that requires more gasoline than other cars of its size.

Visiting an Auto Dealership

Finding the right dealership is key to finding the right vehicle for you. Visiting a few car dealerships in St. George or in other areas is an important step when shopping for your next vehicle. 

You can talk with the salesperson and find out more about any special offers that the dealership might have. For example, if you are trading in your current car, you might be able to get a discount from the dealer on your new car. 

If you are a repeat customer at the dealership, they might offer you a special incentive. From time to time, manufacturers also offer incentives that are only available through the dealership. 

While at the sales center, you will also be able to go on a test drive and make sure that the car is comfortable and feels good to you when you drive it.

Look Into Financing Options

Most people will need some financing for the purchase of a new vehicle. If possible, work on improving your credit score in the six months leading up to your car purchase. 

The better your credit score, the lower your interest rate on your car loan. Look into both dealership and manufacturer financing options. 

If you can make a down payment or have a trade-in that can reduce the principal of your loan, this could also save you money. Consider a shorter loan term. 

Even though your monthly payments would be more on a five year loan compared to a six or seven year loan, you will pay less in interest, saving you money over the long run.

Paying With Cash

If possible, pay for your new vehicle with cash. You might be able to lower the purchase price with a trade-in or dealer incentives, and then pay cash to cover the rest of the vehicle's cost. 

By paying cash in full up-front, you might be able to negotiate a lower price because the dealer is not taking a risk in you defaulting on payments. Paying cash might require that you put a "car payment" into a separate savings account until you are ready to buy your new vehicle. 

Avoiding taking out a loan could save you thousands of dollars in fees and interest over the next few years. Do keep in mind that timely payments on a loan can help you build credit, so there is a trade-off if you pay cash.

Doing plenty of research about cars you're considering buying could help you to avoid getting a lemon. 

Consider the costs of fuel and insurance when buying your next vehicle. The staff at an auto dealership are also helpful resources and can point you to financial incentives and financing options.

Why Credit Cards Are Your New Best Friends?

There’s much more to that small, pocket-friendly, plastic card than what just meets the eye. It’s not just an eye candy or your child’s shiny new toy- it’s a symbol of status. When luxury is infused with power, a credit card is born.

Rightly going by the name, a credit card allows you to borrow money from a bank on credit in order to makes purchases. Banks create a revolving account and grant a line of credit to the cardholder, within which he is permitted to transact. 

The bank permits the card holder to make purchases on credit and reimburse the amount within 25-30 days. Usually, for smooth functioning and systematic operations, a monthly bill is sent to settle the dues, failing which, a very high amount of interest is charged.

In the present scenario, credit cards have picked up pace due to the spectrum of internet. Technology has cut down on long queues and endless paperwork and given banking a new way of life. 

Applying for credit cards online has been the simplest way to get your hands onto happiness. For old times’ sake, the option of adhering to the traditional method of applying for a credit card with an application to your banker is also available.

And while you’re still contemplating on whether to own a credit card or not, read on; we hope to get you sorted. 

Just type ‘credit card apply online’ on the internet and you will come across a host of banks to provide you with their excellent credit card facilities. The advantages of credit cards are as follows: 

Convenience

Tangible dreams are just a swipe away. Credit card is a widely accepted medium of payment worldwide. The security of cash on hand is not an issue. So, whether you’re going to the mall next door or to another geographic location, carrying your credit card with you means having the world in a wallet.  

All- pervasive

Whether you’re buying a packet of chips or a diamond ring for your wife, credit cards can buy almost anything. From the smallest to the biggest, your best friend takes care of it all. 

Benefits and rewards 

Most credit card companies offer incentive programmes and attractive rewards to their customers for the amount of purchases/ transactions made. From frequent flier miles to automobiles, there is something for everyone. 

Build positive credits

Controlled use of a credit card can help you establish credit for the first time and rebuild credit if you’ve previously had problems – as long as you do no exceed your line of credit and clear off all bills on time.

Improves social standards

The biggest beneficiaries of the credit card revolution in India are the lower and the middle class. While the rich do not depend on the card, the ones below them on India’s wealth pyramid do. Buying extra groceries for guests who are coming or paying for medicines at 1 a.m. when no ATM is in sight, the card has helped in times of emergencies.

Pay at a later date 

This feeling has encouraged many people to buy things that they could never afford. Jewellery, dinner at a fancy restaurant, or that toy for their kid. From routine expenditures to improving social standing, the credit card has helped Indians develop.

How to Organize Your Family's Insurance Premiums for Easy Payment Options

Having a family means the need for several types of insurance. Most families have health insurance, auto insurance and homeowners or renters insurance. Many families also have life insurance. 

Trying to keep track of all those insurance policies and when the premiums are due can be tough, so to make it easier, you should try some of these ways to organize your family's insurance premiums for easy payment options. 

Set Up Automatic Payments

One way to make paying your insurance premiums easy and convenient is to set them up for automatic payments. Many insurers offer this option, allowing your monthly or annual payment to be deducted from your bank account or charged to a credit card. 

Even if one or more of your insurance companies does not offer this option, you may be able to set it up through your bank or through a credit card. Having your premiums paid automatically means you don't have to worry about them.

Bundle Policies

Bundling policies together with the same company can reduce the number of payments you have to make. 

For example, if you get your car insurance and homeowners insurance from the same company, you likely will only have to make one monthly premium payment instead of two. Another advantage of bundling policies is a lower cost per service. 

Some companies, like United Security Agency often offer services like this that make billing much easier to manage. Most insurance companies can even offer discounts to customers who have multiple policies. For example, if you have two policies with the same company, you might get a 10 percent discount on both.

Pay Less Frequently

Many insurance policies offer a range of payment options. You may be able to pay once a year, once a quarter or once a month. 

Paying less frequently means you will have fewer payments to make, although you will have to pay a larger amount each time. You also might get a discount for paying a larger amount less frequently.

Take Advantage of Programs

There may be programs you can take advantage of to make paying your insurance premiums easier. For example, if you get your insurance through a company that has an affiliation with your employer, you might be able to have it deducted from your paycheck. 

Or if you get it through a professional organization, you may just be able to pay it along with your dues.

Organizing your family's insurance premiums for easy payment options may take some work, but it is worth it. Not only can you increase your convenience, you also may save money in the process.