It’s hard when you’re living paycheck to paycheck, because any financial emergency can leave you stretched too thin to cover your bills. If you and your family need to make it to the next payday and you don’t have much money on hand, here are a few ways to get there without going hungry or leaving your bills unpaid.
Shift Bills onto a Credit Card
You don’t want to get into the habit of carrying around a balance on your credit cards, but they are a useful tool when you’re short on cash. Put any bills you can on your credit card, and as long as you pay them by the due date, you won’t get charged any interest. There are even credit card payment services, such as Plastiq, that let you pay just about any bill, including your rent or mortgage, with your credit card. You pay a small fee for doing so, but it’s a nice option to have in an emergency.
Keep Expenses to a Minimum
You can’t get rid of your essential bills, but you can avoid spending money on anything you don’t need until that next paycheck comes in. If you have any unnecessary subscription services, cancel them or put them on hold until you’re in a better place financially. Stick to basic meals to cut down on your food costs, and avoid going out.
Apply for a Personal Loan
If you don’t think you have the money to make it to your next paycheck, then payday loans without checks could be a good choice. If you choose the right lender, you could complete an application and (assuming the lender approves you) receive your loan within a few business days. Banks and credit unions tend to offer the lowest interest rates on loans, but you’ll also need to meet the strictest application requirements with them. Online lenders and peer-to-peer (P2P) lending platforms are both good alternatives.
Ask for a Payment Plan
With certain bills, you may be able to set up a payment plan where you pay a smaller amount on the bill’s due date and the rest later after you’ve gotten your paycheck. Some companies could even allow you to push your due date back. Not every company will be open to this, but it’s worth a shot. Remember that the company’s priority is having you pay your bills, which means it’s often better for them to work with you and have you eventually pay than to insist on a due date, and then end up with a nonpayment.
Look for Ways to Make Extra Money
There are more ways to make money than ever, and if you look around, you can often find gigs that pay within a couple days or even the same day. If there are any conventions or shows coming to your area, there may be opportunities to work as a laborer. You can also look for labor jobs on Craigslist.
If you have any specific skills, such as web developing or graphic design, you could look for jobs related to that on a freelancing platform. Don’t forget about driver and delivery jobs—Uber, Lyft, and Postmates all provide simple ways to make some extra cash. Finding a temporary side hustle could be what keeps you comfortable financially until your next paycheck comes in.
Don’t let stress overwhelm you when you’re in a tight spot financially. Consider which of the strategies above will work best for your situation. With the right approach, you and your family will make it through to your next payday.