Stretching Your Pennies: What To Do When There’s None Left

It happens to everyone. You run out of money before you run out of month, and those last few days or weeks before payday seem to stretch on like eternity. It’s an incredibly stressful and worrying time, especially if you’ve got more bills to pay and mouths to feed. However, there are a number of ways you can get around this, to help you out in the short term. If this is happening every month, however, it might be a good idea to see a financial advisor, who can help you get your finances in order.

Look for interest-free credit cards

While it’s not advisable taking out lots of credit cards, if you’re in a bit of a tight fix when it comes to money one month, then using a credit card will give you a bit of breathing space. Find one that’s interest free, so you won’t be spending more than you need, and only use it for emergencies or vital things, like food and bills. If you’ve overspent the month before, perhaps due to a new car or redecorating your home, then work out how much you need to recoup to get you back in the black. Likewise, if you don’t want a credit card, then see if you can apply for a quick loan. You’ll get the money in minutes, and if there’s no interest, or it’s very little, then you won’t need to worry.

Put off any big buys and raid the savings

If you’ve been saving up for something, then it might be time to borrow money from yourself. While not everyone has this option open to them, it does give you a bit of breathing space. This article has plenty of tips on how to save money well if you’re struggling. If you only need a small top up, then see if you can transfer money between accounts. However, you shouldn’t be dipping in and out of your savings account every month. If this is the case, then you might be spending too much, and should reconsider your budgeting. If you’re saving for something like a house deposit or a new car, see if you can get into a government-approved ISA, or buy a car on finance, to help reduce the amount you’re having to save month to month.

Make the most of buy now, pay later schemes

If you don’t have any savings to rely on, and you don’t want to get a credit card or loan, then your options are slightly more limited. Depending on what your expenses are, you might be able to engage in a buy now, pay later scheme. Some online retailers allow you to do this, with PayPal having an option for some users. This lets you spread the cost a bit more. Rather than having huge chunks of money leave at once, you can move it around the month, and put paying off large sums until after your next payday. Again, this should only be used as a last resort, and not something you do every week.

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