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Short Term Loans
It can often be difficult borrowing money for short periods, as most lenders will only offer you a loan payable over three or more years, but there are ways as long as you are sure that any repayments are within your means.
You basically have two main choices when it comes to borrowing: either a loan for larger purchases or credit cards for more immediate needs. The problem with both of these is that you will have to pay large sums of interest, to say nothing of any charges accrued, on anything you borrow, so trying to find interest-free options can save you a bundle.
Obviously the best value debt is interest-free and many lenders will offer an initial interest-free period, so you could simply get an overdraft or card which has this feature if the amount you need is fairly small.
For larger sums credit cards are really the only option, in fact some cards available now will actually deposit the balance of the card into your bank instead of the more usual balance transfer and, as long as this is paid off before the expiration of the 0% period, you essentially have an interest-free loan.
Things to watch out for are: whether any transfer fees are charged, and also to always remember that you should ask for the money to be balance transferred to your bank rather than withdrawing it in cash, which will invariably incur fees. Of course, if you don't keep up with payments, then your money's "interest-free" status is irrelevant.
If you want to start making a profit through this technique, you can utilise 0% balance transfer cards to pay off your original card, meaning that someone else is paying your interest for you so long as you keep all your debt somewhere that is paying none.
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