Moolr.co.uk | Short term loans

Ways To Find Funds Without Borrowing

Before you take out a loan, we think it fair to advise you that you should consider ways to find funds without borrowing. So we ran through how you may want to do that, before adding to existing debt. Sometimes, people do not realise the alternative offers open to them.

First Of All, Go Through Your Finances

This is a necessity, and is where you must start the process. After all, there are so many of us who do not truly know what they are paying for each month. It may surprise you what is going out of your account. Take a forensic look at what you spend your earnings on, so you know where you stand and know whether there are improvements you can make.

ind Funds Without Borrowing – Cut Expenses

And if there are, then you need to work out which expenses each month you can cut. Got that expensive gym subscription that you never use? Then get rid of it. Cut your satellite subscription. Threaten to cancel and they will soon throw discounts your way. 

There are many other ways to cut your expenses. You do not want to remove all the fun out of your life, but there are bound to be methods that you can use that won’t see you miss out on much. After all, do you really need that coffee on the go? Elsewhere, buy in bulk and eradicate food waste. Be efficient and you will see your money go much further.

Can You Earn More – Temporarily?

When i make this suggestion it is important to focus on the temporary nature of what i suggest. Because we must all maintain a healthy work-life balance. The last thing i want you to do is work yourself into the ground and fall to exhaustion in order to make a bit more money. But for some, a temporary increase in workloads could be an option if manageable. Something to consider, especially if you have a one-off emergency bill or expense to cover.  

ind Funds Without Borrowing – Borrow Off Family Or Friends

This is not for everyone. For many, and i include myself in this, it crosses certain boundaries. It can feel like an embarrassment to ask those close to you for financial assistance. An admittance from some that they have failed in life. That is not the case of course, but that is how some will always see it. But if you are prepared to ask for money from acquaintances rather than a financial institution, then do so. You should still have a contract and all parties must be aware of their responsibilities. 

ind Funds Without Borrowing – Do Without

This rather depends on what the loan was intended for. So the question you need to ask is whether the money you wish to borrow is a necessity. If it is not, the simple solution is not to borrow, and get no with your life. If it is a treat, try and save up for it. Plan and set goals, rather than getting yourself in further debt for something that you can wait for. 

 

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