5 Short-Term Financial Solutions To Consider

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Life has a way of throwing curveballs at us when we least expect them. Sometimes, this might mean that we are in sudden need of a financial solution, i.e. some money, fast! This might be to cover an unexpected expense, a job loss, a necessary relocation, an illness, needing to buy a new car… the list goes on. Whatever your reason for needing a short-term financial solution, it’s often not something you think about until you are in that situation. Here’s where this blog post comes in. I will be sharing 5 short-term financial solutions that could help save the day.

5 Short-Term Financial Solutions To Consider

5 Short-Term Financial Solutions To Consider

1. Take out a personal loan

A loan is probably the first thing that comes to mind when thinking of financial solutions. Loans come in all shapes and sizes, and you’ll need to do a bit of research to find the right loan for your individual situation.

If you have a bad credit rating, it is still possible to get a loan. offers bad credit loans, which as the name suggests, are loans for when you have bad credit. You will only be able to get a small loan this way, but it might be just what you need to cover your financial need.

2. Get an overdraft on your bank account

An overdraft lets you borrow money from your bank by going below £0 in your current account. This is really a type of loan, but usually with lower interest rates. It’s even possible to get an overdraft with 0% interest on small amounts of money, so it’s worth looking into if you only need to borrow a small amount. Just make sure you don’t exceed your agreed overdraft limit, or you could be subject to expensive fees.

3. Use a credit card

If you only need a very short-term financial solution, then a credit card could be an option. If you have a good credit rating, it’s possible to get an interest-free credit card. I recommend only getting a credit card if you are sure that you will be able to pay back the money at the end of the month.

A hand holding four different credit cards against a white background.
Photo by Avery Evans on Unsplash

4. Sell expensive belongings

Do you own anything that is worth a lot of money but you don’t really use anymore? Examples could include musical instruments, sports or exercise equipment, electronic devices, or antiques or collectables that you are no longer interested in. Selling such belongings is a good way to give your finances a quick boost. The great thing about this option is that you don’t have to repay the money.

5. Borrow from family or close friends

Many people feel very awkward asking their family or friends for money and would consider this as a last resort. Depending on your relationships with these people, and their own financial situations, it may or may not be a viable option. But in most cases, your family or close friends would be very happy to help you out if you find yourself in sudden need of money.

It’s important to make sure you keep a record of what you have borrowed and commit to paying it back as soon as you can. This will maintain trust within your relationships and prevent any resentment from growing.

Related post: 5 Everyday Money Management Tips To Help You Feel In Control of Your Finances

Have you ever needed a short-term financial solution?

Have you ever taken out a loan, or used any of the other financial solutions that I’ve mentioned in the post? Do you know of any more short-term financial solutions not mentioned here? If you are happy to share, I’d love to hear about your experiences in the comments below.

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5 Short-Term Financial Solutions To Consider


  1. I have used short-term solutions over the years and it always seems they are never as short-term as one would like (that could be down to a number of factors; including not managing the situation well, etc.) so I always try to err on the side of caution when deciding to use some of these. They are useful options; thanks for sharing!

    1. Sophie says:

      Thank you for sharing your experience – I hadn’t really thought about that side of things but it’s true that short-term solutions could often end up being longer-term, due to many factors. Thank you for your words of caution!

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