Every now and then, you may find that you need to get a small loan to get by. A small loan is usually less than $1000, but more likely in the $100 to $400 range. There are several ways to go about getting a small loan, including looking at getting small loans from Wonga.com, which is an online lender that offer small loans.
Borrowing Money from Friends
One of the easiest ways to get a small loan is to simply ask a friend or family member. For loans under $400, or even as low as $100, many times friends or family members are your best bet. First, they will not usually make you jump through hoops to get the money. There is no paperwork, and they probably won’t be too concerned with making sure that you pay it back exactly on time.
However, that doesn’t mean that you should take advantage and not pay it back. Getting a loan from a friend or family member can put other strains on the relationship.
Getting Money Online
There are many places online to get small personal loans or payday loans. Wonga is one alternative, since they make it very easy to get a small loan online. However, there are other places online as well.
Make sure that when you look for a small loan online, you really check the rate and fee structure. Small loans typically have large fees as a percentage of the loan, since the amount borrowed is so small. Keep that in mind when you are getting money.
Using a Credit Card
Finally, if you have a credit card, you may consider using the cash advance feature of your card. MSN Money recently highlighted why you should only use a cash advance in an emergency, but it is a viable option if you need to get some cash quickly and easily.
All you have to do is take your credit card to an ATM machine, and you can get cash out using the cash advance feature of your card. Just make sure that you know the rates and fees before you do it.
Article publié pour la première fois le 26/06/2012