Yes, let's be straight to the point and talk about borrowing money. Have you ever borrowed money? Or were you able to lend someone cash? How did it go? Do let me know in the comments. Don't worry because I, myself was able to lend and borrow money too. It was really nice to be a helping hand, especially to friends and family. And yes, aside from that "feeling helpful" thought, I was also able to feel all those other emotions, plus the stress, and hassle that goes with someone who doesn't pay you after lending them cash. That is why since then I have never lent money to anyone anymore... Also, with what's going on with the world these days, I don't have that extra budget because everything seems to be on price increase!
I borrowed money from relatives and friends too and I make sure that I pay right on time. This is a must especially if you were borrowing money from a very dear friend or a close family member. Simply not just for us to avoid bad blood and bad credit but also because this is the right thing to do as a borrower. With that, you can borrow money again the next time you'll need it. Looking for more ways how to borrow money? Read more!
5 Fastest Ways on How to Borrow Money
When you are looking for ways how to borrow fast cash, I'm sure the No.1 thing that comes to your mind is to Borrow from friends or family. But borrowing money from family or friends has its pros and cons too. If you are paying on time, that's great! But what if you can't pay right away, that's gonna reflect on you. Actually, some people are not even okay with lending money to friends and relatives because their friendships and family ties may also be on the line.
If you have a credit card, here's for you. Another way to borrow cash is through No.2. Cash Advances on Credit Card. Yes, that piece of plastic can also lend you cash, but still depends on the terms of your credit card.
No.3. Have you heard about "5,6"? This is also one of the ways to get fast cash and is mostly the go-to source for Filipino masses who needs cash right away with no bank account or other requirements needed. It's called "5,6" simply because you'll be charged with 20% interest. Yeah, that's the catch!
That's why this next option is way more acceptable for me, and it is called No.4 Pawning. Pawning is where you deposit an item like jewelry, gadgets, or appliances as a security/ collateral to the money you'll be lent. Know more about pawning here. Also, another way to go is the "Sangla-ATM" where you pawn your ATM to your lender and pay your loan when your salary comes.
That's why this next option is way more acceptable for me, and it is called No.4 Pawning. Pawning is where you deposit an item like jewelry, gadgets, or appliances as a security/ collateral to the money you'll be lent. Know more about pawning here. Also, another way to go is the "Sangla-ATM" where you pawn your ATM to your lender and pay your loan when your salary comes.
Then, there's No.5 Payday Loan. A payday loan, also known as a cash advance, or salary loan, is also a short-term loan where you can get fast cash. You can avail this to your work and still depends on the management if they offer this or through other Payday loan sites. Some even offer as fast as 24hrs for your loan to be released. But since this is a short-term loan you have to pay it on your next payday right away or get additional interest and charges for not doing so.
Is borrowing money bad? Well, this depends on where are you spending the money you borrowed right after. If it is for emergency use like hospitalization, or medicine, I think this is ok. Also, for your child's tuition fees, or simply to make ends meet with the utility bills and household expenses in times you came in short but still can pay it right on time. But if you are borrowing money to get something like an expensive bag, high-end mobile phones, and the non-essentials or just the luxury and knowing that you can't pay right away, this is not the best solution for you because this can easily result in bad credit.
Always remember that if you were able to borrow money may it be through friends, family, or whichever means you opted to, just make sure that you fully understand and will be able to follow their terms and conditions and pay on time! So that you won't lose their trust and good relationship. With that, when you'll be needing money again they can still help you out and remember you for being a responsible borrower.
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Maganda yung mga way na ganto kasi hindi ka mahihirapan makautang pero dapat marunong kadin mag budget sa tamang date ng usapan para makaulit ka sa ibang tao dahil kapag maayos ka kauspa once na need mo talaga hindi sila mag dalawang isip pautangin ka dahil alam nila na good payer ka at hindi Mahirao kausap☺️☺️☺️
ReplyDeleteAdmittedly,yes Mommy, I also opted to borrow from friends when my budget comes short.Not on relatives because I have tried many times begging them for some help but still to no avail,they can't even find in their hearts to have concern or even pitied me and my kids.I don't like that feeling,so, whenever I have some extra penny I always open my heart to give some to random friends or strangers I bumped into that needs help.When someone borrows from me I just give it to them,when it just ranges from 200 and below..in that way,they will no more be stressed paying me,same as I will not be stressed in begging them to pay me, and moreso no relationships will be ruined..I actually learned to give not because I have many but because I know how it feels to have nothing,and no one to turn to in difficult times.
ReplyDelete1,3&5 mommy A,na try kona yan nung time na may work po ako.
ReplyDeleteMinsan kasi talaga thight ang budget ee kaya ,malking tulong po din ang mga ito lalo ngayon na mahal na mga bilihin,hindi na tlaga kasya ang budget.
Anne p ardeit
Nka subscribe naman po ako mommy A,ewan ko bakit anonymous 😍😍😍
Ako po nagpapautang ako kung meron akong extra at yong pinauutang ko talaga yong alam kong makakapagbayad at hindi mahirap singilin o hindi na naghintay pang singilin😅Nasubukan ko ng manghiram sa family ko,hindi sa friends nahihiya kasi ako kahit sa pamilya ko nahihiya ako manghiram.Kung kailangan lang talaga ganon.Pero itong Pawning gusto kong ma try to.Parang mas okay sakin to kung need na talaga ng cash.
ReplyDeleteFor me mas madali ako nakakahiram sa kapatid ko na sinlge pa. Ang sa microfinance /lending kasi mas mababa ang interest at may kasama pang Insurance. Mas magaan ang oagbabauad unlike sa 5-6 . And minsan sa friends ko pag talagang kailangang kailangan na.
ReplyDeleteDi naman masama mangutang basta marunong magbayad. Panget naman kung magaling lang mangutang di marunong magbayad😅. Pero seriously if ever na madedelay or di pa makakabayad pwede naman makiusap sa inutangan para di magalit o kaya sumama ang loob ng inutangan. Ganyan ako minsan pag may nanghiram sa akin tapos di makabayad on time inaantay ko na magsabi na "pasensya ka na di pa kita mababayaran ngayon" o kaya " pwede bang sa susunod na linggo o buwan nalang kita bayaran" yung mga ganun para di nakakasama ng loob.
ReplyDelete