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Fragen & AntworenNo more money in your account? Here's what you can do.
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1. INCREASE THE OVERDRAFT LIMIT ON YOUR ACCOUNT
If you have no more money in your account, you can contact your bank manager and ask them to increase your overdraft facility (in the short term). The interest rates are high, but this temporary solution will give you time to find more long-term solutions.
Important: As the interest rates for the overdraft facility are higher than for a normal bank loan, you should also check which account offer is right for you. You can find a comparison of interest rates at www.girokonto.at.
2. ACTIVATE PARTIAL PAYMENT WITH YOUR CREDIT CARD
If you have a credit card, you can also have the repayment debited in installments. There are often offers where the interest rate is lower in the first six months than in the time after that. After that, however, you will pay very high interest rates of up to 14% per month.
Important: In most cases, the prerequisite for a credit card or the activation of partial payment is a regular minimum income.
3. DEFER CURRENT PAYMENTS SUCH AS RENT OR LOAN INSTALLMENTS
If you don't have any money in your account for the rent either, it's best to contact your landlord and explain the situation to them. If you can reassure them that you are already trying to solve your payment problem, they may be more willing to allow you to defer your rent.
When deferring loan installments or other fixed payments, you often have the option of deferring payment for a few months. It's best to ask your bank or insurance advisor about this.
Important: If your landlord agrees to defer the rent, ask him for written confirmation. Otherwise, in the worst case scenario, you could receive a reminder and subsequently be given notice of termination without notice if you have not paid your rent for more than 2 months.
4. SELL ITEMS IMMEDIATELY
Do you have collateral that you no longer absolutely need? Then you have the opportunity to turn them into cash quickly. Unlike on platforms such as eBay or Willhaben, you don't necessarily have to wait for a buyer first. There are many companies that will buy your item immediately - usually for a dealer purchase price.
Here you will find companies that accept various items for immediate purchase:
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5. PAWN COLLATERAL
If you have collateral that you can do without temporarily but don't want to sell in the long term, you can simply use it as collateral. This is how a pawn loan works:
Offer:Here you can have your item valued online immediately. You'll find out straight away how much money you can borrow for it.
Handover: Your item can be brought to a store, but can also be sent or collected.
Payout: Your money will be paid out immediately in cash if you hand it over in person, in the case of shipping only a PayPal or bank transfer is possible.
A pawn loan usually runs for 30-90 days, depending on the item, and can then be extended and reduced. The costs for this option are lower than the costs for credit card installment payments.
Youcan find more information about a pawn loan for your carhere.
6. APPLY FOR A PERSONAL LOAN VIA A PLATFORM
If you can't get a bank loan or have collateral, a personal loan from investors could also be an alternative for you. There are platforms that put you in touch with potential lenders - Giromatch, for example .
Important: Private lenders also require individual collateral from you in order to give you a loan. You can find an article comparing the various providers here.
7. TAKE OUT A BANK LOAN
If you no longer have any money in your account but have a regular income, a loan may be possible. In this case, however, the budget calculation must show that you have enough money left over to repay the installment. For example, your fixed costs must not exceed your income.
Important: You can also ask relatives or friends to sign for you as guarantors. In this case, however, they are liable if you can no longer pay your loan installments.
8. INCREASE SALARY
Salary increase: If your money is not enough to cover your everyday living expenses and you are in an employment relationship, you could ask your employer for a salary increase. It is usually not offered actively, so sometimes it pays out to ask.
Advance salary payment: Alternatively, you could perhaps receive an advance for planned overtime or an advance payment of your vacation pay.
Part-time job: A part-time job is also a good way to save a little money. You can find various offers in different areas here.
9. CHECK FUNDING OR DONATIONS IN AN EMERGENCY SITUATION
If you find yourself in dire straits and perhaps even in danger of losing your home, there are various agencies that offer support. You can find out more on the official websites of the federal states:
For advice, but also for one-off financial support, you can also contact Caritas emergency aid and ask for individual help.
10. TEMPORARILY OBTAIN FOOD FREE OF CHARGE
There are many different places throughout Austria that rescue edible food and pass it on free of charge to people who need it. For example here at Foodsharing. You can also find distributors via various groups on Facebook. This way you can save your money for other important payments.