Most of us can agree that saving money for the things you want and saving for rainy days is a wise money move, but putting that into practice isn’t always that simple. At 37 years old I’ve never had a credit card and try to only spend money I have available but we all know there are times when things can get on top of us and we just don’t have access to the cash we need at the time.

Even though I’ve managed to avoid credit cards so far does not mean I’m “good” with my money. If you’ve followed my blog for a while you’ll know I love to shop and just like anyone I can go a little overboard. Although I wouldn’t suggest a loan as your first call when times get rough, I know it is sometimes the only way to get out of a financial bind.

You can however, be smart about it if it gets to that and look for the best option for your needs. There are a few ways you can do this, some I would suggest are;

Weighing up all your options

Is getting a loan the the right choice for you? Will you be able to make the payments back without getting deeper into a hole? You need to take a good look at your finances to make sure it’s going to make sense in the long run and based on your incoming and outgoings you can decide which company and repayment options suit your situation the best.

Make a plan.

Once you decide whether you want to go with a direct lender or a loan broker and then decide on which company you need to first know how much you need to borrow and find out if they are willing to lend you that amount. People are often tempted to borrow more than they actually need at the time to give themselves a bit of a buffer and like anything there are pros and cons to doing that based on your personal situation but I advice making a plan ahead of time and firmly sticking to that throughout the process so there are no surprises and you know exactly what you are getting and what you need to give back.

Choose the right lender for you

All you have to do is run an Internet search and your page will be flooded with companies wanting to throw money at you but it’s your job to do your research and find the one that suits your circumstances the best, a company that keeps the customers best interests in mind along side their own. Companies like cashasap.co.uk who offer quick and easy short term loans with no hidden costs. The very first thing they do on their site is warn potential customers about risks that come with payday loans and they also offer a link for you to compare their rates with other companies to make sure you’re getting the best deal.

Making other changes

Using the time that you’re paying the loan back is a great time to make changes to your spending habits. If you are cutting down on clothes shopping and eating out etc it maybe useful to continue this long term and consider it more of a lifestyle change opposed to tightening the belt for a short period. I will never understand why we aren’t taught how to manage finances at school as it’s such a vital part of adulthood and something so many people struggle with. Getting into situations like this is not a failure but an opportunity to learn how to do better in the future.