Unfortunately, it isn’t exactly uncommon these days for someone to get caught just a little short of where they need to be, money-wise. Maybe a person just needs a few dollars to make it until his next payday or maybe a person is in more of a financial fix than that. No matter how much money someone is short, though, it is important to remember that there are plenty of options out there.

Predatory Lending Practices

The best known options for quick money also among the worst. Payday loans, title loans, even tax refund anticipation loans all have horrible terms that can easily put someone in a worse position than they started in. It’s not unheard of for the interest on these predatory loans to work out to 100 percent interest (or even more!). The fact of the matter is that even the small amounts of money a pawn broker can offer is a better option than something like a payday loan.

Looking For Better Options

Loans aren’t the only option for finding money quickly. There’s always the option of selling something: while it’s hard to get the best rate if a seller is in a hurry to get money, there are plenty of options beyond pawning an item. For instance, placing an ad on Craigslist can get an almost immediate response, as long as the item for sale is desirable. It’s possible to complete a sale in just a day or two, if necessary. If there’s more lead time — if someone knows that they’ll be a little behind in advance — it’s possible to sell for better rates. And while pursuing such avenues as selling plasma sounds like a fall back to college money-making, such options are still available.

For those in a position where a loan is a better option than trying to complete a sale, there are sources of loans other than predatory agencies. It’s worth asking a family member for help before all others, but asking an employer for an advance or community members for some aid can also provide options.

Keeping Calm in a Crisis

Finding oneself on uneven financial ground is difficult. The first reaction many people have is to rush around, looking for someone to effectively bail them out. But if a person can keep their calm in such a situation, it’s often possible to find a solution that — at the very least — offers enough time to get back on solid ground. Rushing around only makes it easier for predatory lenders to take advantage and make the situation much worse.

The best thing someone in financial straights can do is step back and assess: determine the amount of money needed, possible sources and how helpful those sources might be. Consider all the options, such as piecing together a larger amount of money through multiple methods and sources. If there’s a way to find a little more time without making the situation worse, it’s almost always worthwhile — with more time, a person might even be able to take on a little extra work and earn enough to cover the shortfall.

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