BusinessPaying for an Electrical Repair on a Tight Budget

Paying for an Electrical Repair on a Tight Budget


Flickering lights, a microwave that blows the circuit every time you reheat leftovers, or a socket that delivers a nasty shock whenever you plug something in. These electrical emergencies can be annoying and stressful to deal with on their own. Knowing the average electrician charges premium prices for house calls can make your stress levels go through the roof. 

If you don’t have a lot of extra cash on hand to deal with these electrical issues, you may not know how you can afford a professional’s help. This article aims to change that. Check out the ideas below:

Borrow Money in a Pinch

If you’re just short of your electrician’s quote — and payday is still a week away — consider borrowing an online installment loan. For those of you wondering what is an installment loan, it’s simple; it’s a personal loan that you pay back over time. 

Your specific term will depend on a variety of factors. Generally speaking, you pay back a portion of what you owe every couple of weeks according to a predetermined schedule. You’ll never have to pay back your personal loan in one lump sum but in several smaller installments. 

If an installment loan isn’t to your liking, you may also want to research lines of credit. A line of credit comes with a monthly statement based on your usage. It comes with a minimum payment that you can rely on when money’s tight. However, paying off your full balance whenever possible is your best course of action. 

Ask Your Electrician for a Financing Plan 

Financing may be another option you can use in an emergency. Many private electricians and larger electrician service companies offer their customers these payment plans if you ask. 

A financing plan mimics the installment loan defined above but with a few minor differences. For one thing, you won’t receive a loan that you use to pay your electrician. Instead, your electrician will complete the work with no upfront payment. For another, you will pay back your electrician for the work they complete, rather than a lender. 

One thing an installment loan and a financing plan may have in common? Interest. Many payment plans come with interest rates and finance charges, so be sure to get the full details before you sign up for one. 

Can You Wait?

Calling for an electrician in the middle of the night, on the weekend, or during a stat holiday will cost you even more for this professional’s time. So, ask yourself, does someone need to look at this right away? 

Not all electrical issues are created the same. Some are less urgent than others. Take, for example, a microwave that overloads a circuit randomly every third time you use the appliance. This issue indicates there is a wiring problem that you need to look at, but it’s not an emergency. 

Compare this to a wall socket that shocks you or emits a sizzling sound. This may indicate a wire is damaged or loose, which is a fire hazard. You should call someone right away about this.

Whatever You Do, Don’t Take a DIY Approach

When money’s tight, you might consider skipping the professional to save some money. But electrical work is complicated, and you run the risk of seriously hurting yourself if you do it wrong. Don’t risk your life over a few hundred bucks. Instead, consider the ideas outlined here today.

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