Whether it’s your cooker, boiler, washing machine, freezer or another major home appliance, when they go wrong, our day-to-day lives can be drastically affected. From not being able to cook to sitting in a freezing home in winter, the importance of having these fixed or replaced as soon as possible is impossible to ignore.
When money is tight, however, it’s not always as simple as paying it out of our pockets. So, how do we get the money we need, when we need it? That’s what we’re exploring, here.
Loans
Whether you’re opting for a personal loan, home equity loan, an overdraft or you’re looking for a trustworthy short term loan provider, these can be great ways to get the cash you need to repair the appliance.
If you have a good, or average credit score, you may be able to secure a loan with a repayment plan you can afford and that works for you. Most loan providers will conduct their own affordability checks prior to accepting your application, so you’ll never be provided with a loan you can’t realistically afford to repay.
Sell Things You Don’t Need
We all have things laying around the house that we don’t need. Whether that’s furniture, appliances, old phones or something similar, listing these items on sites like eBay, Facebook’s Marketplace and Shopify makes selling them easy.
Alternatively, companies like Music Magpie and WeBuyBooks will buy various items, without the need for listing items or waiting for a seller. If you’d prefer to stay away from selling online, you could hold a traditional garage sale.
Consider Taking On Extra Jobs
Uber, Lyft, Deliveroo, Fiverr and Airbnb are just five of the up and coming companies currently making it easy to take on part-time work. Whether you spend a few hours an evening ferrying people from A to B, deliver their food or you have a skill you want to promote on Fiverr, these services offer true flexibility in work so you can earn some extra cash alongside a full-time job.
This funding option could work well with a loan, giving you the chance to cover the initial cost and pay back the borrowed amount without eating into your usual budget.
Borrow From Family And Friends
While we understand that not everyone can have the luxury of borrowing from their friends or family, this can be a useful way of securing the funds you need. You could choose to borrow from one family member, or an array of friends.
Whatever the case, it’s highly unlikely they’ll charge any form of interest when you borrow. So you’ll only be paying back the initial amount borrowed.
Pawn Shop Loans
If you have items you may not necessarily need but aren’t prepared to part with them for good, you could sell them at a pawn shop. Acting as what is essentially a secured loan, you can borrow an amount equivalent to the worth of the item and then pay it back in instalments. Once this has been paid off, you will be given back your item and you can return to your usual financial budget.
When we’re faced with financial emergencies, being able to step back and think clearly about how to get the money we need isn’t always simple. Hopefully, this guide has given you a starting point if your appliances have broken down. Which will you choose?