What Do You Do When You’re Short on Funds and Need Cash Now?

What do you do when you’ve hit a rough spot in your finances and don’t have enough money to pay your bills? Most likely, you’re going to be looking for money that you can receive as fast as possible. Fortunately, there are some ways that you can get your hands on the cash you need quickly and easily.

Need Cash Now

Take a Loan Against Your 401(k)

This might be a controversial suggestion to make, especially considering every financial expert in history has advised that you should never borrow money against your 401(k). In a way, that is sound advice. When you take money out of your retirement account, that money is not growing and, if it is out of the account for a long period of time, could cost you big bucks.

What is not often considered is the fact that the money is yours, so borrowing against your 401(k) is the equivalent of borrowing money from yourself. When you pay yourself back, the interest is also being paid to yourself. Sure, there is likely going to be a fee associated with the loan that goes to the originator, but that is a small price to pay for access to the money you need.

Work Directly with Your Creditors

For most of your bills, you can contact the company directly to work out a payment plan for outstanding balances you’re having trouble paying. If this is not something you’ve made a habit of, most companies will also waive interest charges for your first agreement. The best thing you can do is contact the company as soon as you realize you’re going to have difficulty paying the bill. If you wait too long, you might get sent to collections, where it will be more difficult to find someone willing to work with you.

Fast Installment Loans

While an installment loan is technically considered a high-cost loan because they carry a higher interest rate when compared to traditional loans, the rates are actually quite reasonable when compared to alternatives such as a payday loan or title loan.

With an installment loan, you are able to pay back the lender over time instead of with one lump sum, which can make it easier to budget the repayment into your finances.

Whether you need to borrow a couple hundred or a few thousand dollars, you can usually find an installment lender willing to work with you. There are also different types of installment loans, the availability of which is based on your credit. Some will be unsecured while others will require collateral such as a vehicle or other personal property.


Borrowing money is never something you want to have to do. If you do need it, however, it’s good to know that there are a number of options available to you. Just be sure to do your research so you can pick the option that’s best for you.… Read More