Most people will encounter a time in their lives where they fall short on cash and need to borrow to cover their expenses. If you have a savings established you simply have to make a quick withdrawal. However, if you have no savings set up for emergencies and your credit is less than perfect you may think that you have no options. Luckily there are lenders willing to loan money to people who have a lower credit score, as well as other options available.

Short Term Loans

When you think of short-term loans, you may think that the only one you will qualify for is a very high-interest payday loan. Thankfully, there are payday loan alternatives. There are online lenders who offer low-monthly installment loans to people with less than perfect credit. And, unlike a payday loan, you have several different repayment options.

Title Loans

If you own your vehicle, there are lenders who are willing to use your car as collateral against a loan. Depending on the Blue Book value, this type of loan can give you access to more money than a short-term loan.

401K

If your company has a 401k plan and you are a contributor, you can borrow up to 50 percent of the vested amount. Since you are borrowing the money from you, the chances for a quick approval are very good. The best part about this type of loan is that while you will pay interest, you pay it back to you.

Pension

While you should never touch a retirement fund. If an emergency arises and you need the cash to prevent losing your home or your vehicle, and the company you work for allows it can give you access to a lot of cash in a lump sum. If you are less than 59.5-years old there is an additional fee of 10 percent plus the 20 percent withheld for the IRS.

Borrowing from Family

If you don’t have a savings account, a 401K or a pension that you can withdraw from, you can see if a family member is willing to give you a loan. If someone in your family does front you a loan, remember to treat it the same as you would any other lender. Come to an agreement before accepting the loan and then stick to it. It’s very easy to put a family member on the back burner and pay other bills first. Make every effort to repay per the terms agreed on and if you should have a rough month contact them and advise them when the next payment will be. This way you’ll stay on good terms should you need their help in the future.

Take on a Part-Time Job

If you find that you are having trouble making ends meet often, you may need to find a way to bring in more money each month. If you have a talent, you can sell items or services to fill in the gap until you reduce your overhead. If not, you may need to consider taking on a second job for a while to get you on your feet.

Hard times can happen to anyone. Maybe you lost your overtime or you have extra expenses like school or medical bills. Whatever the reason, there are many ways to dig out from under and get on an even platform. If your monthly expenses are very high, look at your bills and see where you can make cuts, even for the short-term. For instance, if you have a large cable bill, go to basic service. Also, if you eat out often, reduce it to once a month as a treat, brown bag your lunch for work and use coupons when going food shopping. By pulling in your belt, you will have the money you need to cover your expenses and work towards improving your credit score.

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There are so many great benefits of being self employed. Flexible hours, you can work from wherever you want and there’s no superiors to answer to. You can really fit your work around your life, instead of trying to fit your life around rigid work hours. However there is a downside, self employment work can be unreliable and unlike regular employment you don’t have a set paycheck that lands in your bank each month. Things can be a little up and down, which is why it’s so worth having a number of different options available to you for earning money. If you’re having a slow month, you can always pick up one of the others. Here are some ideas.

Run a Business

For most self employed people, their main focus will be running some kind of business. You could be baking cakes, making clothes, buying and selling things online or something else completely. Either way, this is a great way to make money when you work for yourself. However you could experiences peaks and troughs with your profits throughout the year, and if you’re having a quiet few weeks or months, you could earn extra money with the following methods.

Start a Blog

It takes time to build a blog, but if you start one up and publish regular content (even once a week) it will grow. Later down the line, your blog can be a real cash cow- sponsors generally pay well to have their content or links posted on your site and so it can be a quick and easy way to earn some extra money. Plus you can link your blog to your main business, and use it as a promotional tool as well. Blogging brings with it all kinds of opportunities, and so it’s well worth setting one up, even if it’s not your main source of income.

Freelance

It’s always worth signing up to a freelance site, that way if your business or blog is slow you can pick up some extra work. There’s almost always work available, and you can work on it any time you’re free to boost your bank balance. Whether you’re a writer, app or website designer, illustrator or something else completely, your skills will be needed online and freelancing gives you the ability to earn cash from home in a legitimate way.

Stocks and Trading

If you’re interested in finances then chances are you’ve took a keep interest in crypto currency over the last few months. While Bitcoin is still the one you hear most about, there are lots of others that can give you opportunity to earn well. Look at these Ethereum facts for example. While there’s always an element of risk when it comes to investing, as long as you’re smart about it it can be a good way to secure yourself some extra cash.

Don’t risk a slow financial month leaving you in the lurch. When you have bills to pay and other expenses to cover, when you’re self employed it pays to have your fingers in many pies. That way, you can always make up the necessary amount each month in your bank.

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If you do absolutely everything with your customers best interest at heart, then you can’t really go wrong can you. Well, hypothetically you can’t, but we all know how awkward customers can be sometimes. They have to be among the most hardest of people to please in the entire world. But how true is that statement. Is it that they are hard to please, or is it due to the fact we aren’t doing enough to please them. Whilst a lot of business owners wouldn’t like to admit it, money is always at the forefront of their minds. Everything a business does is money orientated, even if some like to sugar coat it as caring for the customer. Think of typical adverts such as ‘Tailor made phone contracts designed with you in mind’. No, they’re not designed with the customer in mind, they’re designed to make the most money. So, if you know you’re guilty of this we’re here to change you. Putting the customers at the front of everything you do will completely transform your business, and here’s how you can do it.

Your Website

Your website plays a crucial role in the happiness of your customers, and happiness always equals more sales. Now we’re in an era where most people chose to go to the internet to buy pretty much everything. The internet is now even better than the local supermarket that might be a two minute drive down the road. It just makes everything so much easier, so you better believe that the majority of your sales are going to be coming through your website. So, the more effort you put into it, the better you’re going to be in terms of customer happiness. One thing to think about doing is having a UX agency help to upgrade, or even design you a whole new website. UX is a user experience based website. It puts the customer at first and helps to improve things such as the ease of use, and the ordering process to better suit your customers needs. They have expert knowledge to make sure that the customer is always pleased when using your website. The second thing you need to think about doing is actually getting your website out there for customers to notice. The best thing to do here would be to use a marketing agency to set up the best strategy for your website and business. Different strategies work better for different companies, so going it alone isn’t always the best thing to do.

Your Products

The better your products, the happier your customers. It is a no brainer really, but something a lot of businesses seem to struggle with for some reason. Market research is one of the best ways to make sure you’re always on the right track. It will give you access to vital information such as what your customers like and dislike about your products, and what they expect to see from you. Take the feedback onboard and make sure you’re always improving upon their advice. Our main advice would be to make sure you’re not cutting any corners. We understand you’re in the game to try and make as much money as possible, but poor quality products aren’t going to get you very far, no matter how much money you’ve saved making them. What the people want is high quality, long lasting, and even unique products if you can achieve something like that. It might be worth having a sneak at what your competitors are doing, and how they’re making their products or services so you can have a little inspiration.

Your Sales Strategy

This is where so many business go wrong. A good sales strategy isn’t one that is aggressive and has the aim of reaching out to as many customers as possible. A successful sales strategy is one that waits for the customers to come to it. The last thing you should be doing is things such as cold calling to try and get sales. Nothing will anger your customers more. Gentle sales techniques such as offers and discounts will help to naturally draw the customers in. You can then work your magic either face to face, or over the phone or email. Never be too aggressive, and never try and oversell a product to your customers. Make it sound exciting, but never pressure. There are plenty of guides on the internet that will help you to improve your sales strategy.

Your Customer Service

Bad customer service is being too pushy with things such as sales, as we’ve already discuessed. But something even worse than that is the poor customer service you can give when a customer is actually trying to purchase a product or your service. You should always be polite, attentive, and make sure you’re giving the customer everything they want, obviously within reason. It isn’t just you that needs to nail this, your employees do to. As a business owner we would hope that you already know what is required when it comes to customer interaction, but your employees might not always be so clued up. They’re often the reason why you’ll be getting complaints in the first place. Make sure you hold regular training days and reviews to make sure they’re always giving customer service to the highest standard.

Beat Your Competitors

Finally, if you want to keep your customers at the front of everything you do, you first need to make sure you’ve got the customers. Always stay one step ahead of your competitors, and don’t be afraid to take a few sneaky ideas from them to improve your own business. Make sure you’re checking out their faults, and use them as your own strengths. Just like customers talk about your own business, they’ll talk about your competitors too. This can easily be found online, and it can easily be used to your advantage. Marketing is another good way to make sure you’re always in the limelight with potential customers, therefore keeping you one step ahead of competitors.

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The life of a landlord is a life of intense micromanagement. In order to keep many tenants happy, you are required to ensure that everything is maintained well from week to week. Not only that, but it’s a strange business to be a part of. There aren’t many other industries in which things may proceed routinely and without necessary interference for months, only to have every problem surface in one fell swoop. If you’re not prepared, you can be overwhelmed by the sheer magnitude of responsibility you have to deal with.

Financially handling the life of a landlord could be considered another thing entirely. It’s important to know that while profitable, a landlord must invest as carefully as they profit. The income flow is relatively stable, but the outgoings could differ wildly from month to month. There are many reasons as to why this is, but seemingly less methods to control those fluctuations. In order to manage your finances well, it pays to know how to operate. Within time you will get the hang of this, but new landlords especially can find themselves overcome with financial burden in a business they once assumed to be smooth sailing.

The following tips may just help you make better decisions in this field:

Take Money Matters Seriously

Many landlords prefer to cultivate slightly less-than-ideal tenants so they do not risk a tenant leaving. This is because that can often lead to a lack of income for a month or many months as new tenants need to be found. This can be relatively wise. A tenant who pays on time might not clean as well, and that’s certainly more ideal than a supremely clean tenant who never pays on time. However, taking money matters seriously is essential. After all, you’re not in this business for the charity of it.

A good way to strike a happy medium between legal backing and solid tenant relationships is to lay out exactly the methodology your tenant must follow. You can clearly define these terms in your tenancy agreement template. This means clearly laying out late payment charges, perhaps asking for a form of security income in case they do not pay (such as a guarantor,) or even asking for months of rent in advance. It might mean asking for lower, more frequent payments to keep the cash flow effective, or even to ask for tri-yearly instalments to cover the future.

Taking money matters seriously is important to be respected as a landlord. Let one-time slide and you can, unfortunately, set yourself up for this to be the norm. It’s always best to cover yourself, so try to ask for at least one month’s rent in advance before your tenant moves in. This gives you a buffering time to evict if they neglect to pay on time, and keep your cash flow active. As a landlord you must always be thinking about sustainable income, and plan in advance for this.

Set Limits

As a landlord, you must also invest in your properties. This is a no-brainer. While it might be that the light bulbs should be replaced by a tenant, the bigger responsibilities are yours to handle. After all, this is your property. Now, you should set some hard and fast limits here. Let’s say the sofa in your property has a spring loose, and your tenants are demanding a new one. It might be perfectly reasonable to simply repair the sofa using a professional upholstery service, rather than outright spending thousands on a new fixture.

It might be that you choose to steam clean a mattress rather than purchase a new one. After all, as long as you’re providing a habitable, nice and clean standard of living, you should not be troubled into wasting money on unwise investments. It can also be wise to adjust rent over time to stay more compatible with inflation and the rising cost of living.

It might also be that within your contract you stipulate that utility usage is on an unlimited tariff. Of course, this should be subject to fair use. For example, a tenant who keeps their heating on full blast over the winter might find the property wonderful and comfortable to live in. When it comes to reading the electricity bill, you might have an argument to give. ‘Fair use’ is the sacred mantra for all tenants offering a form of unlimited payment. This allows tenants to stay responsible for unfair action, and prevent you from wiping your monthly profits simply trying to pay the bills.

Also, consider damage. Damage to property is something that is completely on the shoulders of your tenants. While you might allow for a lick of paint or cleaning out of good investing faith to cultivate the relationship, deeper damages may require you to bill the tenants or punish their security deposit. Do not be afraid to do this in the interest of being a ‘friendly landlord.’ You are a business, not a charity. Your tenants are allowed a license to your home, but it’s still your asset, and any damage could be considered vandalism within punitive laws if not rectified financially.

With these correct limits set, you have a much greater chance of setting the clear parameters within which your tenants operate.

Savings & Excess Funding

Things will go wrong. It might be you experience a hefty leak in two of your buildings on the same morning, and the carpet damage will take professional care to fix. It might be that you need to relocate a certain tenant to ensure their home is fixed. In these instances, heavy investment is required. This can be debilitating. However, if you’ve been smart about this, you will likely have at least a buffer of savings for you to dip into and try to improve your standing.

Financially handling this might be difficult, but by nesting away your profits you can potentially keep the sustainable profit going long term. Just as someone investing in automotive repair to allow them the potential of getting to work and earning, you must keep a ‘sustenance’ funding supply of sufficient breadth. This ‘rainy and annoying day’ fund will give you the means to keep your assets working for you, rather than against you. It also helps sustain tenants who see you take affirmative action in their interest.

With these small tidbits of advice, financially handling the life of a landlord will become that little bit easier.

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