There are some methods to borrow money if you are in a situation where you do not have the necessary funds to cover some unexpected costs until the final month in which your salary will be paid. Several methods have different advantages and disadvantages, but whatever method you use, you should expect to pay at least a little more than what you purchased. The most important thing you can do when you borrow money is to return it early or in time, if possible. Once you have received your first month of salary, recover first and try to start saving a little extra money to avoid having to borrow more money later. Here are the? 6 tricks to make ends meet.
Loan money from a friend or family member
Make a list of friends and family members who think they could lend you money for a short period. Think of all the close friends and family members you have, that you think have the means so you can borrow the money you need. Think about your relationship with this person. Are you very close to each other? Have you ever borrowed money in the past? Choose the person you think is most likely to be willing to help you, and contact them first. In general, it is usually not good to mix money matters with family and friends. If you do not return them, you risk ruining your relationship with them forever. Be direct When you arrive to ask for the money, be friendly, but do not walk around the bush. It is a good idea to make a small talk before mentioning the problem to avoid appearing indifferent.
Application for a loan from a financial institution
Before going to a bank to get a loan, check your credit score. The purpose you need to do this is for many banks to verify your credit score before deciding on the terms under which they will lend money. Knowing in advance what your score will give you an idea of what to expect.
Calling for an Advance Pay Day
Check the company’s policy on payday advances. Many companies, especially the larger ones, already have policies in place that restrict when and under what conditions an employee can request an advance on their paycheck. If you can not find anything in your contract about it, do not be afraid to approach the human resources department about the matter. Ask them about the circumstances in which they could request an advance on their paycheck, how long this process takes, and when the money they “borrowed” will be returned.
Loan of money using a credit card
Use your credit card to buy what you need. If you need to borrow money to buy something at a retail store (for example, if you want to buy a Christmas gift for your child), using your credit card is an easy way to cover the costs of an item when you do not have the cash available. Although you should keep in mind that you will incur interest charges unless you pay the full balance before the end of the month. Try to return the money as quickly as possible to avoid accruing interest charges.
Your credit card company will usually send you an invoice each month (or it can be online) that will tell you the minimum you are expected to pay each month for payment. money that he borrowed. These are ways you can survive until the end of the month in which your salary will be paid.