If you are facing a January spending crunch, you are not alone. On top of demands for school fees and last-minute uniform or stationery requirements, you might also have an unexpected cashflow hangover from unplanned festive season spending.

Cash Converters chief executive Richard Mukheibir shares some tips:

Know your cash reserves

Can you still access any of the cash you received as a Christmas bonus? Do you have a rainy day account for emergency funds or other income due that you have forgotten about?

Work your salary

You might have discovered there is too much month for your money but at some businesses, your salary slips can open the door to a payday advance without any other form of security.

What can you sell?

If you do not have a regular salary, look around your home for items that you have fallen out of love with or perhaps never even loved in the first place. Check and clean thoroughly any items you have decided to sell. The better their condition, the better the price they will fetch.

Consider taking a loan from yourself

This is essentially a form of cash advance that is secured against your goods and valuables – similar to a buy back. Choose this if you need to raise money fast but do not want to part forever with something you value.

Be protected

Check that the business you choose to deal with for cash advance on your goods or a salary advance is registered with the National Credit Regulator. This will protect you against the sky-high interest rates often charged by unregistered lenders and also ensure that the short-term credit agreement that you are asked to sign is in line with the National Credit Act.

The Mercury