Life is full of surprises. What to do when surprises are not financially positive? Large or small changes in life can fluctuate the balance of an otherwise well-balanced economy.
We systematically cover every possible situation where there is not enough money and offer a solution for everyone.
When you find that you don’t have enough money, the options are quite simple: you need to earn extra income by working, building passive sources of income, or reorganizing your household, and getting money to save.
The most important thing is to think about what is possible in your situation and how long the situation is.
You might want to try direct lenders for fast money
The most important thing is to find out why you have run out of money and you will not see an improvement in a few weeks. Whatever the reasons, the solution to the situation is to reduce spending and increase revenue.
Sometimes money is not enough because of debt. Most say a third of net income can be used to pay off debts. In the long run, an amount higher than this does not withstand interest rate fluctuations, fun or possible surprises in your own economy.
So it’s worthwhile to check out pluslend.com/ and apply for a loan direct lender.
If you have taken on too much credit, consider lowering your standard of living and its impact on your own life. Namely, debt counseling also brings new people with a shiny car from a fine stone house to branded clothing. If you know you have bought more than just necessities with debt, you might consider moving to a smaller apartment or a modest car and selling fine but expensive items.
Below are other ways to lower your standard of living so you can have more money to pay off your debts, but you can still have fun with small expenses every now and then.
- Switch to a cheaper car, use public transit and / or bike and walk.
- Exercise can be done with bodyweight training. For example, there are many free sports videos on YouTube, and many different sports apps offer months of trial.
- Switch from eating out to snacking or picnicking in the wild, grilling or dumpling. Have coffee with friends.
- Finland has many immersive national landscapes, so an adventure holiday does not require a five-star hotel or a trip abroad.
- In the case of consumer products with a short life span, you should choose the cheapest option of all
What if the standard of living is really compromised as much as possible?
You should not give up your dwelling, food, medicine, and telephone. However, it is worthwhile first to think about living in a remote area in a smaller apartment and competing with everything from telephones to electricity and remember to always choose the cheapest medicine option at the pharmacy.
If you use the least expensive option and you have enough debt to pay after the payment, you should contact your creditors and try to negotiate a monthly payment reduction and extension. In addition, you may wish to contact your local city debt counseling or guarantee fund.
What if you can’t make additional income or need money right away?
Often, the injury does not come around the clock, and earning additional income takes time and results only weeks or years, depending on the method. If there is a sudden need for money, you should first scratch every coin from the base of the piggy bank and sell or pledge home items that are not absolutely necessary.
What if you are not able to generate income or not enough money? After that, it is worth considering how long-term the situation is probably.
For example, if you know that the money you need will be up in a month’s time, you should remember your credit card. With a credit card, you often get an average 30-day non-interest payment period, so you can get paid without additional charges if your credit card doesn’t include, for example, monthly fees for using your credit.
You might want to check if your credit card also includes a cashback feature or other bonus programs from our comparison. You’ll also see interest-free payment times and different monthly charges for each credit card available in Finland:
One possible solution is to combine loans to reduce the total cost of the loans
Therefore, the aim is not to take out a larger loan amount or to extend the payment schedule.
It is quite tedious and difficult to pay off loans to a variety of lenders when it would only be more convenient and perhaps even cheaper to put in a certain amount automatically each month. However, it is worthwhile first to calculate whether the consolidation loan would be cheaper than the existing loans.
You can check our mortgage loan quotes from our comprehensive comparison, which also tells you the probability of getting a loan based on the information you provided.