2 Comments

1. Monstblitz says:
   April 2, 2010 at 3:09 am

   If you have bad credit, a $500 loan that you will most likely have difficulty paying back isn’t going to help you. I know it’s tough to be short at Christmas, but your loved ones will understand.
2. Fuzzy Gnome says:
   April 2, 2010 at 4:07 am

   You could try pawn shops, but I really don’t think a new loan is the best thing for you at this time. What will happen next Christmas? Not only will you have the bills you had this year, but you will also have to pay back this loan.
   I would take a look at other expenses you may have, such as cable or satellite TV, and cut back on things you don’t enjoy much anymore, like some magazine subscriptions. Since living in my own apartment, I’ve found that cable TV is an expense I don’t need as I can get enough channels for free. You are wise not to do a payday loan, because they have incredibly high interest rates.

   It may be difficult, but maybe you need to cut back on Christmas this year for the good of the family budget. While you’re looking at what monthly services you can cut back on, you might want to consider saving up to 3 months worth of bills as an emergency fund. It helps to bridge times like this or a temporary job loss. There’s a money-management technique known as Living Below Your Means that you may want to check out, on fool.com.