Home > Alternatives to lending

Alternatives to lending

Ease financial pressure without taking out a loan

Are you struggling to make ends meet or to find the money to pay for an unexpected expense? Before you apply for a loan, it might be helpful to consider the following options and altenrnatives to lending.

Updated by Steve Stemp on 21/4/24

same day loan

Short term cash flow solutions

Salary sacrificing: Talk to your employer about salary sacrificing. This allows you to redirect a portion of your pre-tax income towards specific expenses, potentially saving you money.

Government assistance: Depending on your situation, you might be eligible for Centrelink benefits or other government assistance programs.

Generating income

Freelancing or side hustles: Utilise your skills with freelance platforms or explore side hustles to earn extra cash.

House or pet sitting: Offer your services as a house or pet sitter for some quick income.

Sell items you don’t need: Do you have unused items you can sell online or at a pawn shop? This can be a quick way to generate cash.

Payment plan options

Talk to creditors: If you’re struggling with bills, contact your creditors and explain your situation. They might offer flexible payment plans.

Centrelink advances

The Australian government do in some cases offer advance payments. This is not a Cash Today loan. It is an advance on your Centrelink or other benefit payments that is repaid to the Australian government.

Some of the criteria include:

  1. You have been receiving a government payment for at least 3 months
  2. You have not requested an advance payment in the last 12 months
  3. You do not owe a debt to the Australian government
  4. You can afford to repay the amount within 6 months
  5. You have a MyGov account linked to Centrelink
  6. You know your income and expenses

You can view more information via Services Australia.

If you are experiencing financial hardship and are not eligible for an advance payment from the Australian Government there are other options available.

Financial Wellness

  • Second chance loans
  • Centrelink and low income loan options
  • Financial counselling & budgeting

Explored all of the above options, and feel that a loan would still be the best option for you? First find out the best loan rate that you qualify for, obligation free and with no impact on your credit history.