Where to get quick cash to get through January!

Have you heard of Blue Monday? It’s always the third Monday of January and is supposedly the most depressing day of the year.

Which does make sense if you think about it. The combination of endless dark cold mornings, the likely failure to stick at most of our New Year resolutions, and the realisation of how much we have overspent over Christmas all hits us just about now.

January always seems like such a long month too. After all the fun and festivity of Christmas and New Year, January just seems to drag on and on. It is also a particularly hard month financially. Not only is there all the expense of Christmas, but also many of us get paid early at Christmas which means that by around now we are really feeling the pinch.

The start of a New Year is always a good time to give our finances a bit of an overhaul. This time last year we explained how to do this, including setting a budget and organising your finances to be able to pay off debt and start saving money. You can read that article here.

But what can you do if you need some quick cash right now?

The first thing to do is see if there is anything in your home that can help you.

For instant cash you could:

  • Search the home. Get everyone to hunt for cash. It is often the case that odd bits of cash can sometimes turn up in drawers, pockets, unused bags or down the side of the sofa! Even a jar of change might add up to more than you think.
  • Return goods. Is there anything that you have bought but not used that you might be able to return to the store for a refund?
  • Exchange money. Does anyone have any foreign currency around the home that you never got round to converting back to £ sterling?

For cash within a few days you could:

  • Sell something. Have a good look around and see if there is anything that you could use to generate cash. Anything you could sell either at a car boot or table top sale, or online eg eBay, GumTree, local Internet selling sites. Some goods such as jewellery can also be sold to shops for instant cash.
  • Pawn something. Many people are not aware of how pawnbrokers work. They will accept good quality items such as computers, video gaming systems, audio visual equipment, cameras, musical instruments and jewellery in return for temporary cash. If you can pay back the cash plus agreed interest within a specified timescale you will receive your item back, otherwise they will sell it.
  • Advertise a service. Are you able to offer local services such as cake making, cleaning, babysitting, dog walking, garden clearing, DIY or other odd jobs? If so – and particularly if you can provide references or recommendations – then this could be a good way of earning quick cash.

But if the above ideas don’t work for you, the main thing to do is not to panic. Don’t fall into the trap of getting further into long term debt by running up credit card bills that you will then be unable to repay. You would then be charged interest on the balance, which means that your debt would continue to grow and you will eventually end up spending far more than you originally borrowed.

If you do need some extra funding then you would be better to take out a very small loan such as a logbook loan. A logbook loan is a loan that uses your vehicle – car, van, bike, classic car or even high end privilege vehicle – as security. Because of this it may be possible to get a logbook loan even if you currently have a poor credit rating.

With a logbook loan you can borrow the amount you need and receive that money on the same day. You can repay the loan over a period of 12 to 36 months and can repay early with no additional settlement charges. This means that you know exactly what you are paying and for how long, with no unexpected surprises.

So, if you are in a situation where you need quick cash then why not use our online loan calculator to work out how much the repayments would cost for the amount you need to borrow, then do get in touch with us either online or by calling 0330 400 4137 and we will see what we can do to help.