Table of Contents
- Extra Cash Alternatives to Early Withdrawal from My 401k
- How Can I Pay for My Unexpected Expense?
- Title Loan for Extra Cash to Build a Swimming Pool
- Title Loan for Extra Cash to Pay for LASIK Eye Surgery
- Title Loan for Extra Cash to Buy a Phone
- Using a Car Title Loan for Extra Cash for a Bike or Moped
- Title Loan for Extra Cash to Pay for a Divorce
- How Can Title Loans Help with Extra Cash
Extra Cash Alternatives to Early Withdrawal from My 401k
If you find yourself facing an unanticipated expense, you might be considering using money from your 401(k) or other retirement account to pay for it, but we also recommend title loans. That said, there are several situations where you may be able to withdraw money from your 401(k) while avoiding the 10% early withdrawal penalty:
- If you are over 59.5 years of age: It’s assumed you’re close enough to retirement that you’ll be able to take the money out soon anyway.
- Become disabled: If you become permanently disabled, by sickness or accident, you can make early withdrawals, assuming you have a physician sign off that the disability will be permanent or ongoing.
- Pay for non-reimbursable medical expenses or premiums while unemployed: These medical expenses, which must not be covered by insurance, may be for you or your children and be at least 7.5% of your adjusted gross income. You can also avoid the penalty if you are unemployed and responsible for your own health insurance premiums.
- When buying your first home: You can avoid the 10% early withdrawal on the first $10,000 you use for a down payment on a home.
- Higher-education expenses: The total withdrawal cannot exceed the value of the applicable bills, which include things like tuition and books but don’t generally include room and board. The exact amount you can withdraw can also be modified by any scholarships the student has. You’ll want to consult with a tax professional to work out the particulars of how this withdrawal works.
- Pay back taxes: If you owe the IRS money, you can pay them using your retirement account without incurring an early withdrawal penalty.
- Repairs or modifications to a primary dwelling: This is at the discretion of the IRS. It generally involves paying for damages that were sudden and unanticipated.
If you are too young or your sudden expense doesn’t fall into any of the above categories, it might make more sense to look for other ways to pay for it.
How Can I Pay for My Unexpected Expense?
If you don’t qualify for any of the exemptions to the early withdrawal penalty and don’t want to pay the fee, there are a number of other ways you can potentially pay for your unexpected expense:
- Borrow money from friends or family: They may be able to give you a loan at low or no interest.
- Start a Gofundme: You can reach a larger number of people than simply asking your friends or family. Additionally, when people give you money this way, it’s not a loan so there’s no need to pay anyone back.
- Sell things you no longer need: If you’re like most people, you’ve got quite a bit lying around your home that you don’t use anymore. You can put that stuff up on EBay or Craigslist and turn it into cash. After all, one person’s trash is another person’s treasure.
- Take out a personal loan: You might be able to fund your expense with a payday loan. Or, if you have a car with a qualifying title, you might consider title loans. Because these are secured using your car title, you may be able to get more money at a better rate than with a payday loan. You’ll also be able to keep your car and drive it normally during the life of the loan, when you make your convenient monthly installments.
- Use a credit card: This may not be ideal, especially if you can’t pay the balance off before it accrues a lot of interest, but it still might make more sense than taking money out of your retirement account.
- Get a part-time job: If you work ten hours a week at $10 an hour, that’s almost $300 a month after taxes. It may not pay your bill immediately, but it can help you pay it over time.
A sudden, unexpected financial hardship can be scary. When you’re looking around for a way to pay a large bill you hadn’t anticipated, you may be tempted to take money out of your retirement account. Depending on the circumstances, you might be able to avoid the early withdrawal penalty. If you don’t qualify for any of the exemptions, it might make more sense to look for other ways to pay, including using title loans.
Title Loan for Extra Cash to Build a Swimming Pool
When making a swimming pool, there are four things to keep in mind, especially before hiring the work needed for its construction, or before you decided to pick up that shovel!
- Blueprint: Measurements are important, whether for you or the workers who are helping make your swimming pool dreams come true! Keep documentation and initial pool plans so construction is kept consistent in what you want out of your swimming pool.
- Zoning: Always be sure to read up on your neighborhood and city zoning laws and regulations for swimming pools. Some neighborhoods all-together do not allow homeowners to have swimming pools, especially if they have their own community pools for people to swim in.
- Circulation: Whether it’s electrical wiring or water flow, be sure to consult with field experts to ensure that your swimming pool does not interfere with the water and power systems of your own home.
- Space: With the measurements and blueprints of your swimming pool, it be best to know its placement in your backyard and how it will affect other future endeavors. Always account for the space, as it’s likely no going back once you have the pool built.
But once you have done the pre-planning of your swimming pool and purchase and construction, it is time to decide on the biggest debate for swimming pools: in-ground or above-ground?
In-ground vs Above-Ground Swimming Pools?
Depending on your preferences or future building endeavors, there is plenty to be said for both swimming pool types, from their pros and cons they bring to the table. Let’s start with the in-ground pool choice.
In-ground pool pros:
- In-ground pools can take on any shape and can be as large or small as you want. Not to mention the additional features of a waterfall or mini-bar that most above-ground pools could usually not accommodate alone, especially when there is limited space available.
- In-ground pools last long! They are usually refurbished every 25 years or so, with new tile and coping, plaster and equipment. Vinyl and Fiberglass inground pools also can last for decades!
- In-ground are super customizable when compared to above-ground pools. Aside from what was mentioned above, In-ground pools can be built with negative edges or equipped with automatic pool covers or safety covers. They can even have shallow water tanning ledges, benches, and attached hot tubs. Whatever you can think of with a dream pool, you can pretty much do it with an in-ground pool.
- While also lasting years longer than above-ground pools, in-ground pools are also very easy to clean most of the time.
In-ground pool cons:
- Most in-ground pools tend to be a bit more expensive in terms of cleaning equipment, features, constructions and even when you are installing one yourself.
- Depending on how you are installing it, in-ground pools can typically take six to eight weeks to construct.
- Depending on the soil quality of your backyard, this could very much determine if the in-ground pool will be difficult or simple to construct, which doesn’t tend to be a problem for most above-ground pools.
- Safety is much more expensive for an in-ground pool because it’s just easier to fall into one that could lead to drowning. Whether it’s an additional gate, automatic cover or other types of safety measures, the in-ground pool will tend to have most pool owners on alert.
Now let’s look at what the pros of an above-ground pool has to offer:
- Most above-ground pools can be installed in less than a week, depending on DIY installation or pool builder services.
- Above-ground pools are less expensive to install than in-ground pools.
- Above-ground pools can be installed in a variety of areas and tend to take up less room in a backyard.
- Safety and cleaning for most above-ground pools is manageable and mitigates any expensive lengths to ensure that the pool meets swimming pool regulation requirements that most in-ground pools tend to get flagged for.
Above-ground pool cons:
- Not as malleable in shapes as in-ground pools but do come in a variety of sizes.
- Extras for above-ground pools are limited, and costly. If you want a nice deck for your pool, expect to pay-up for extra costs on your construction budget and more space required to accommodate it. Other than that, lighting and heaters is all you have to play with when customizing an above-ground pool.
- Maintenance for most above-ground pools are mixed. Permanent in-ground pools are harder to maintain but expect eventual leakage or damage if you live in more unpredictable weather conditions.
Your budget and wants from a pool may factor in your choice between the two, but either decision will require the following construction tips.
Swimming Pool Construction and Add-Ons
After deciding on your swimming pool of choice, what’s next?
Here’s the few steps you must take in building your swimming pool:
Step 1: Order the supplies. Whether online or in-store, swimming pool materials must all be gathered before anything can be dug or placed.
Step 2: Time to build. Always take account of how you are building your pool, or how the professionals build your pool. Better to ask questions and check the instructions of your kit rather than completely damage your own property.
Step 3: Time to fill! This is probably the last step of the pool construction, but it does not mean your swimming pool is safe to swim in!
Step 4: Cleaning and chemical time! After adding the water, your swimming pool must take time to properly function with the chemicals placed and pH levels of the chlorine checked daily before the plunge.
Step 5: General maintenance and enjoy! Once you get this far of your long (or short) journey of swimming pool construction it’s time to sit back relax and check for changes in pH levels, leaks, pump maintenance, and other things to look out for in your mini paradise!
Also keep in mind: your pool is like a car, major damage or repairs to the filter system or foundation should be fixed to keep it running smoothly. Even after you take your construction budget to account, you never know when you need or want anything to add to your pool in the future. Add that too!
When in need of additional funding for a swimming pool, title loans may be a favorable option. Car title loans can be a great way to get essential funding without hassles.
Title Loan for Extra Cash to Pay for LASIK Eye Surgery
There are an immeasurable number of reasons that a car title loan could be just the thing you need, some of which you might need a little bit of help to be able to see. One such reason is being able to get that extra bit of funding you need to be able to pay for that LASIK surgery you may have had your eye on for quite some time.
LASIK eye surgery while frequently offering rather miraculous results comes with quite the hefty price that will make the jaws of many drop through the floor. According to All About Vision, the average cost of the procedure in the United States in 2017 was $2,088 per eye – not overall. That brings the total on the bill so far up to $4,176. Sometimes the price of can amount to even more than that depending on the nature of your vision’s condition as well as the technology used by the surgeon in the procedure.
As if all of that was not enough of a pummeling to your pocket book, all of that does not even include the other fees as well as the cost of follow-up doctor visits post-surgery. Definitely NOT an amount of money that can be scoffed at or easily brushed off by most folks.
Will Insurance Cover LASIK?
While LASIK eye surgery is a medical procedure, most vision insurance plans will not cover it. This is due to the fact that refractive surgery is considered to be cosmetic and thus medically unnecessary. As a result, this more often than not leaves the burden of the cost of the procedure almost entirely on the customer unless they are fortunate enough to have their employer work out a special arrangement with the surgery center for a special price.
Even with the bargain prices you might sometimes see advertised for LASIK, there are some downsides that need to be considered:
- Many of the so-called “bargain” prices are only offered for the correction of mild nearsightedness. Other conditions such as astigmatism, farsightedness, or more advanced cases of nearsightedness will still be fetching a much greater price than what you see advertised.
- The price in the advertisement does not cover all of the extra fees involved. This could result in you having only a limited amount of follow-up visits to your doctor and having to shell out exorbitant amounts of money should there be a problem and you require post-op care. Furthermore, the cost of any enhancement or retreatment surgeries are not included and you could also be charged even more for your initial consultation. The bill just keeps racking up and up from there.
- Getting a discount procedure could get you a surgery performed with frighteningly outdated technology. You might not get bad results, but there is greater risk of complication and less precise results than you would hope for after shelling out a lot of your hard-earned money. Also, a discount surgery will probably not get you custom LASIK or bladeless (all-laser) LASIK.
- Going with a surgeon based on the discount price that they offer could produce subpar results and potential complications in the procedure. LASIK eye surgery is definitely the kind of procedure where you want to actually find the best surgeon and facility around and spend the money for them. In the long run it will save you a great deal of hassle, pain, and possibly money on having to get extra care due to a mistake on the surgeon’s part.
Understandably, this can all feel rather daunting. No one wants to have to go broke or to have to scrounge for extra cash in order to have the clear vision that they deserve to have. With an easy to apply for and manage car title loan however, you may be able to cover most if not the entire cost of the surgery in one fell swoop1.
Title Loan for Extra Cash to Buy a Phone
Do you need to purchase a phone but don’t really have the funds to get one? Did you recently lose your phone or need to upgrade to a more reliable phone for work, or need to add a line for a family member? Not having the right phone, or money for a phone can lead to communication issues that could easily be avoided.
If you need cash to buy a phone, you can take out a title loan and get the emergency cash you need to get your phone. When you are shopping for a phone, there are certain things that you should consider to make sure you get the most for your needs.
Although there are several major phone companies to pick from, they each have their own advantages and disadvantages. However, there are three types of payment plans to keep in mind: Pay-as-you-go plans, Prepaid plans, Family plans.
- Pay-as-you-go: When it comes to phone buying, if you’re looking to purchase one in case of an emergency, a pay-as-you-go plan may be the perfect option. You’re basically buying a bucket of minutes, and simply pay for the days that the phone was used. Most companies have options where you can either pay by the minute, or even get unlimited access for an entire day.
- Prepaid plans: For those that don’t like to be tied to a contract and set limits on phone conversations, especially if you have children added to your family plan, prepaid may be for you.
- Family plans: For the latest smartphones, a postpaid family plan might be the way to go. These plans also come with the option of carrier-based parental controls, like location tracking and driving controls, which can be helpful to parents with older children. Not to mention other features such as content filtering, talk and texting caps and time-of-day restrictions for the younger kids.
There are also much cheaper plans to consider from the likes of companies such as Consumer Cellular, Republic and GreatCall that have similar payment plans at under $20 a month, but with limited texting, calling and data.
Phone buying always tend to boil down to the phone payment plan alone, so be sure to always check out the benefits and points that you feel you may be overcharged for. Consider the following:
- How long am I usually talking on the phone?
- How often do I text?
- How often do I use apps?
- How much internet do I use with my phone?
- How much data do I need for things like photos?
- Do I need specific features on my phone that my service can support?
When phone buying, consider how you can pay for it. Title loans can be one way because of how fast you can get emergency cash from them. Title loans are reliable and quick, so you may get your cash from title loans in as little as a day13.
After comparing the numbers and crunching down exactly what you want from your service, you can now finally begin phone buying. Prefer to not leave the comfort of your home? Well that’s exactly what online phone buying is all about!
How Online Phone Buying Works
Online phone buying has made things much simpler as opposed to spending an eternity in a retailer for hours. Like everything on the internet, online phone buying is typically user-friendly and walks you through everything that must be completed before your purchase.
There are a variety of ways your online phone buying spree will turn out:
- Shipped: As simple as Amazon, the phone you pick will be brought to your home and either carry instructions on its activation or must be activated via a sales representative at your nearest location.
- Store Pick-Up: The phone will ship to your nearest retailer for pick-up and will then be activated by a sales representative.
Another choice comes into play when it comes to how you are looking to pay for your phone: monthly or its full retail price?
Here are some important notes why paying full price may be a good choice:
- You can now focus your time on the phone bill
- You are not paying for both charges at once
- If you have the money saved up, why not?
But, there’s another way to pay for the full retail price for the phone you want using the expertise of online phone buying: look for the deals.
Most phone companies love to put deals on older phones, with their more “shiny” upgrades starting at almost $900.
Although this all comes to personal preference, a phone from last year is an acceptable purchase, especially if you’re looking to save up later down the line.
But wait, there’s another way. Online phone buying doesn’t have to be from the service provider, places like Amazon can also be a more comfortable option.
When online phone buying, there’s also a few things to keep in mind:
- Be sure it works for your service: Always read up on the descriptions to ensure that the phone you are purchasing is supported by your network.
- Prime users rejoice: Prime Exclusive Phones should be taken advantage of, especially since they tend to be the latest phones at lower prices.
- Always full-price: One advantage with online phone buying with your service provider is having the choice of creating a monthly payment plan for the phone. On Amazon, you only have the option to pay full price for the phone, so choose wisely.
How to Pay for a Phone
You have the phone, you have the plan, and now comes the first bill.
Phone buying has changed in the last decade and getting the bill through the mailbox is a thing of the past.
Depending on your service provider, here are just some of the new, innovative ways you can pay your phone bill that’s not snail mail.
- Over the phone: Most providers offer over the phone payments via messaging or talking with a customer service representative.
- Via app: With the app of your service provider, it almost feel’s like a game that saves on paper bills. Not to mention that some providers allow you to change and adjust your payment plans as you see fit.
- Online: Either email or through your retailer’s website, you can pull up all the information of your phone bill, usage, and check out which users are using the most data through online payments.
Phone buying has only been made easier with the idea of online phone buying and service provider options, but knowing which plan fits for you could mean the difference between picking the cheapest or most expensive phone and phone payment plan.
When in need of additional funding to pay a phone, title loans may be a favorable option. Check out our application and see how you can use emergency money from a title loan to pay for a phone!
Using a Car Title Loan for Extra Cash for a Bike or Moped
A bike or a moped could be a great way of transportation, especially if you are tight on cash. The price of gas keeps rising higher and higher. It is affecting us all to some degree or another. Sometimes we might not have the money to shell out at the pump and driving everywhere might become a bit too costly. When this happens, alternative means of transportation such as a moped or a bike start to look like a more viable option.
There are a plethora of good reasons to make the switch to a more cost efficient mode of transportation. Driving to and from work as well as any other places you might have to go on an average day costs a great deal of money. More than you might think.
As of 2017, Americans are spending an average of around $1,400 on gas per year. While this is less than it was a few years ago (in 2014 the average was a little under $2,000), the cost is still noticeable and is taking away hard-earned dollars from paychecks every week.
Putting the cost of gas aside, it costs a pretty penny to own and drive even an average sedan. You still have to factor in the piling up costs of other expenses such as maintenance for the vehicle, those pesky occasional repairs that need to be made, car insurance, and the ever-skyrocketing cost of parking if you live and/or work in an urbanized area.
Adding all of these costs together results in an average of around $9,000 a year to own and operate a car. Keep in mind, as mentioned earlier that is just for your average run of the mill sedan. Owning a different kind of car, SUV, truck, etc. could end up costing you even more than that.
That said, looking into an alternate means of transportation such as a bike or a moped may be the best option for you depending on your current circumstances.
Health Benefits of Bikes
Not only can a bicycle save you some serious money on fuel and repair costs, but it has several health benefits as well, such as:
- Burns as many calories as jogging, but with fewer negative impacts on the joints.
- Improves cardio-vascular and aerobic fitness.
- Lowers blood pressure.
- Boosts energy.
- Builds muscle.
- Improves coordination.
- Reduces stress.
- Alleviate symptoms of depression.
- Improve sleep patterns for those with insomnia.
- Reduces anxiety.
- Boosts self-confidence and overall mood
- Improves memory and learning, sharpness, and overall brain performance
However, if for whatever reason a bicycle is not a viable option for you, then a moped might be more your speed.
Perks of Having a Moped
While mopeds may not provide any health benefits like bicycles do, they are still a convenient mode of transportation that can save an enormous amount of money every year over driving a car everywhere.
Mopeds can alleviate your financial concerns because:
- A 50cc engine moped will get you close to 100 miles per gallon, more than five times the amount you get with an average vehicle.
- You can get a relatively new motor scooter for close to $1,000 depending on where you look.
- On average, gas costs only $20 a month.
Though neither of these options cost that exorbitant of an amount of money to acquire, you might still be in a position right now where you might not be able to come up with the money to buy either one of them as soon as you would like or need to.
Title Loan for Extra Cash to Pay for a Divorce
Divorce can be expensive. Title loans as emergency cash can be help you cover the initial costs, but if you are worried about how you’ll afford it, there are things you can do to lower the cost. What goes into the cost of divorce can also factor into how much money you need to settle your divorce case.
What Are Some Things I Can Do to Reduce the Cost of Divorce?
When people think of divorce, they often think about an angry, bitter couple yelling at each other while their lawyers sit back and add up their billable hours. It can be like this, but it doesn’t have to be. You can do things like:
- Have an Uncontested Divorce: Essentially, an uncontested divorce is when both spouses don’t have any issues to resolve that can impact the divorce. This means they have come to an agreement on things like how to split any savings or property and child custody. Depending on the financial complexity of the marriage, if there are any children, and the state of the relationship between the spouses in general, getting an uncontested divorce can be quite simple.
- Engage in Mediation, Not Litigation: If you can treat your divorce as a collaborative effort to solve the problem of dividing your assets and keep it from becoming an adversarial attempt to get as much out of the other person as possible it will help keep the costs down.
- Work Out as Many Issues as Possible Outside the Court: If you are in a courtroom or your lawyers are talking, it costs you money. Any issues you and your spouse can work out beforehand will save you money down the road. It may even be possible to resolve everything yourselves, write it up, and just have your lawyer check it over to make sure there are no issues.
- Convert Assets to Cash: It will be easier to divide up a pile of cash than it would be to decide who gets the car and who gets the house.
- Understand the various fee structures that lawyers use when charging for divorces.
How Much Do Lawyers Charge for a Divorce?
There are a few different ways that lawyers can charge you for a divorce:
- Flat Fee: If your divorce is relatively simple your lawyer may charge you a flat fee, because they have a good sense for how complicated and long the process will be. Be aware though, if things turn out to be more complicated than initially believed, you may incur additional fees.
- Tasked-Based: If your divorce is not complicated, you may be able to work out the majority of it with your spouse. Once you have something written up, you attorney can review the document and help you address any problems or work through any remaining issues.
- Hourly: This is just as it sounds; the lawyer charges you an hourly rate. The actual rate may vary however. For example, if one of the lawyer’s assistants performs a task, the rate you are charged may be lower than if the lawyer does it themselves.
Do I Need to Use a Lawyer for My Divorce?
It is possible for you to get through you divorce without a lawyer. If you do though, you’ll may need to spend extra time researching and understanding things like the particulars of court proceedings. There are websites that can help guide you through the paperwork and many family courts have a self-service divorce center. Some are staffed by local lawyers who volunteer their time to answer questions for people divorcing without an attorney. Other centers simply have resource books.
Is There a Way I Can Get My Spouse to Pay for My Legal Fees?
There might be. Depending on the local laws, the divorce fees might be divided based on the difference in each partner’s income. If you’re involved in a particularly wealthy divorce, several million to divide, there are firms that specialize in that and take payment upon the completion of the divorce. If doing the work yourself is not an option and you can’t find a lawyer willing to be paid after the settlement, you may have to look for other ways to pay.
How Can I Raise Extra Cash to Pay for My Divorce?
There’s a number of things you can do to raise money to pay for your divorce:
- Borrow Money from Friends or Family: They may be able to loan you money interest-free or for a lower amount of interest than a bank.
- Sell Things You Don’t Need Anymore: One person’s trash is another person’s treasure after all. You may need to be careful if you do this. You should double check that it won’t have any implications for your divorce.
- Use Savings: You may not want to do things like pay early-withdrawal fees or deplete your savings, but you could end up paying considerably more if you don’t get good representation.
When in need of additional funding for the divorce, title loans may be a favorable option.
How Can Title Loans Help with Extra Cash
When in need of additional funding to pay an unexpected expense, title loans may be a favorable option. Car title loans can be a great way to get essential funding.
One of the best things about a car title loan is that they can be fast and efficient. You could even receive your car title loan funding as soon as the next business day3!
Check out our application and see how you can use emergency money from a title loan for such an unforeseen expense!