5 Ways to Pay for Rent When You’re Broke – Our Guide
January 23, 2020It is not a pleasant experience to go through when you’re broke. Worse, is when you don’t have money, but the bills have piled up, and you’ve got rent to pay! In such circumstances, you may be thinking hard about what you can do to pay off all your expenses and bills.
Your rent is one of the biggest expenses that you have to fulfil every month, and it’s important that you try your best to avoid paying late because this may put you in a vulnerable position of getting kicked out of your rented property.
If you are struggling in a similar situation, here are five ways to help you pay for rent despite a negative balance.
1. Open a new credit card
Isn’t it ironic that one way to be able to pay off rent is to get a credit card that would likely put you in debt? However, drastic times indeed call for drastic measures. Since you’re broke and you badly need cash to pay for rent, one effective way to do it is to open a new credit card by meeting the minimum requirement for sign-up. You can get the sign-up bonuses when you spend a certain amount of money. After this, your credit card company will send you cash that you can use to pay for your rent.
2. Get a side job
One of the possible reasons you’re broke now is because you’re not making enough money from your primary job. In such instances, you need to think of alternative ways to increase your income. If you have any skills that you can earn money from, do it. There are so many opportunities now that you can grab, all you need is to be creative and resourceful.
3. Sell items that you no longer use
As much as you want to donate some of your items because it’s “morally” better than selling them, when you’re broke, you have no choice but to make some money out of them. Gather the items that you no longer use and sell them. You can hold a garage sale or sell them online. Nevertheless, make sure that your items are still in good condition, and if possible, comes in a complete package so you’ll be able to make good money out of them.
4. Apply for a payday loan
A payday loan is one of the easiest ways for South Africans to pay rent when they’re broke. There are many lenders that offer payday loans, and they can hand in the cash within a couple of days. However, be mindful of choosing a lender when applying for payday loans. Make sure that the lender is licensed and be conscious of repayment terms and interest rates.
5. Consider debt consolidation
Debt consolidation is when you take out a huge loan to pay off other smaller debts. This will let you focus on a single debt, which can be ideal for some. This will also help you track your finances better. Similar to payday loans, make sure that you choose a licensed lender who can provide you with the most reasonable interest rates.
Being broke when your rent is due can be stressful. Don’t get sucked in and use these smart ways to get yourself some needed cash to pay off your expenses!
If you’re in looking for payday loans in South Africa, get in touch with us today! We’re happy to help.