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Don’t “afterpay”, ask a mate!

Avoid the drawbacks of “Buy Now, Pay Later”.

Got something you really want to do?  Short of the cash you need to achieve it? 

Before you lock yourself into one of the “buy now, pay later” services remember, there may be an easier way.

There are so many other options to get the cash you need now.

Thanks to the coronavirus pandemic, Aussies are doing it tough. Now that we are out of lockdowns we are all keen to get on with life, achieve some goals and have some fun.

When we don’t have the cash we need, a loan is the best way to stop us being held back. Our bank is typically the first place we go, but with high fees, lengthy application processes and interrogation of our private lives, there are simply better options open to most of us.

Here we have assembled five other options to getting the cash you need quickly.

#1 Credit Card

Yes, the fees are higher, but access to money is quick and as long as you are able to pay the balance off quickly it won’t cost you big in the long-run.

Pro-tip: shop around for the best deals on a credit card, there are many cards with 0% interest on purchases for an initial period.  If you pay it off within say 90 days it may not cost you a thing.

#2 Pay Day Lending

If you are in regualr employment, then a payday loan is a short-term unsecured loan. The term “payday” in payday loan refers to when a borrower writes a postdated check to the lender for the payday salary, but receives part of that payday sum in immediate cash from the lender. 

While there is still often a form to fill out, it is much simpler than any kind of bank application.  It is also quick, often cash within the hours, but this type of lending is also characterized by high interest rates.

IOUcash - Group,Of,Female,Students,Working,On,School,Project

#3 Crowdfunding

Crowdfunding is the practice of funding a project or venture by raising money from a large number of people.  Depending on what you are hoping to achieve crowdfunding might be a great option and today, here in Australia, there are lots of platforms open to us.  It can be an exhaustive task and typically always takes time however.

IOUcash - Fraud,And,Scam,Girl,Taking,Money,And,Lying,To,His

#4 Ask a mate

Like with any loan, there are risks. In this case, the biggest one is burning the relationship.  However, do it right, and this can be a transaction that let’s you achieve your goal with that relationship intact.  You never know, your mate might get a kick out of helping you.

#5 Take a digital IOU

Rather than flat-out asking a mate or family member for cash a digital IOU allows you to remove all the awkwardness.  Engaging a third-party in this way ensures you maintain that personal relationship.  Your friend will be comforted by the fact a plan is in place for repayment, you’ll have the cash you need (not to mention saving on those bank fees) – a win win for everyone.

We have built the solution for you.

IOUcash offers no misunderstandings, no lengthy paperwork, and no loss of relationships with streamlined peer-to-peer lending, because it, should be just that…mates helping mates.

Be one of the first to use us to get a digital IOU. Pre-register now!

The Cash Mag

Helping everyday Aussies do better with cash.