We’ve all been there—unexpected expenses pop up, and you’re short on cash. This time, though, you don’t want to ask your familia, especially that one tía who always bails you out. So, what are your options? Depending on how fast you need the money, here are some solutions you can try.
Need Cash in 1-2 Days?
If you have a credit card, try calling your provider to request a credit line increase. It’s not guaranteed, but if they approve, you’ll get more available credit immediately. Just make sure to pay off what you spend quickly, so you don’t end up with more debt.
Need Cash in 1 Week?
You’ve probably seen the “pay now, pay later” option while shopping online. While it can break up larger purchases, remember that it’s still a loan, often with interest. This can be a handy solution for a short-term loan if you’re buying something you need, like a bed or computer for school, but be cautious and pay it off as soon as possible.
Need Cash in 1 Month or More?
For bigger expenses—like rent or business costs—lending circles, known as “tandas,” can be a great option. In California, organizations like Mission Asset Fund (MAF) offer these lending circles and help you build credit by reporting your payments. It’s a community-driven way to access funds while also improving your credit score.
Final Thoughts: Plan Ahead and Stay Prepared
While these options can help in a pinch, having a budget is the best way to prevent being caught off guard. Emergencies happen, but when you have a financial plan, you’re less likely to need quick loans. Take control of your finances now, and future you will thank you!
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