There are plenty of terrible things happening in our world today that can make you lose sleep at night. And the majority of them can negatively affect your financial situation and the quality of your life.
If you don’t have an emergency fund or a rainy day fund, at one point, you might have to consider applying for an emergency personal loan to get your urgent expenses covered.
Below, you will find a few tips that will hopefully help you get through even the toughest situations.
Unfortunately, it’s impossible to control everything around you, and unpredictable things will inevitably happen. What you can do is try to prepare for an emergency in advance, so that when something beyond your control happens, you will feel yourself a bit more confident.
The best way to do that is by establishing an emergency fund.
Here are a few tips that will help you make sure that you have at least a 3-month expense cushion prepared.
Without a budget, you won’t have an idea of how much money you’re earning and where it’s all going. By keeping a budget, you’ll be able to put aside a certain amount of money every month without compromising on the quality of your life.
At the same time, you’ll get to see what areas of your life need improvement from a financial perspective and whether or not you’re happy with where your money is being spent.
Take a look at the payments that you make regularly. Is there a way to lower any?
When it comes to utility bills, you can learn more about how to stop using as much water and electricity. Switch the water off when you’re brushing your teeth, don’t run the air-con when you’re not home, and so on.
Here are a couple of thought-provoking ideas to get your mind in the right place:
A liquid asset is the cash that you have on hand or an asset that can be easily converted to cash. Those are savings, checking, and money-market accounts, as well as short-term government investments.
The value of these resources does not fluctuate with market conditions. That’s exactly why it’s recommended to begin investing in higher-risk investments only after you have at least a few months’ worth of cash across all your liquid accounts.
Also, it’s important to make sure that you wouldn’t have to deal with any early withdrawal penalties whenever you're going to need the money. This can happen when you take your money out of a retirement account, for example.
There are plenty of ways to earn some extra money. You can try freelancing, babysitting, or even dog walking.
Another great way to make more cash that you can put aside is by selling the things that you no longer use. The clothes that you haven’t worn for over a year, décor items and furniture pieces that don't fit the aesthetics of your house, etc.
Such “garage sales” will help you not only earn a bit more but also finally declutter your house.
Many people prefer not to visit the doctor for a regular checkup, order a professional HVAC cleaning, or take their car for routine maintenance as all of that, of course, can cost quite a lot of money.
But the truth is that regular maintenance will end up saving you a small fortune in the end. If you are sure that you’re healthy and that your car and house are in amazing condition, you will reduce your chances of having to deal with unexpected medical bills and car and home repairs.
In a nutshell, it’s a lot easier (and cheaper) to regularly exercise and eat healthy, than to have to deal with heart diseases that require expensive treatment.
All the points mentioned above may sound like a lovely plan, but it might take you up to a few years to finally save up an appropriate emergency fund.
During this time, anything can happen. And if you find yourself in a situation where you urgently need some cash, you might want to consider applying for an emergency personal loan.
An emergency personal loan is typically an unsecured type of loan that you can get quite fast. “Unsecured” means that you wouldn’t have to use any form of collateral to secure the loan (like your house or car, for example).
Emergency loans should not be used for investments, business expenses, or college tuition. You might want to go for an emergency loan only if you need to take care of urgent home or car repairs, medical bills, funeral expenses, or, for example, critical utility bills.
You can get such a loan from banks, credit unions, and online lenders. However, you might want to choose the latter because online lenders allow you to apply for the loan through a completely digital process, and, in case you qualify, the loan amount will be deposited in your bank account in only a couple of days.
Furthermore, some online lenders are ready to work with all credit. So, you can try applying even if your score is less-than-perfect. Simple Fast Loans is a legitimate online lender that will offer you all of the benefits mentioned above.
All you would have to do to apply for a loan from Simple Fast Loans is follow these steps:
Remember that you have to be at least 18 years old to apply for a loan. Additionally, you must not be an active or reserve member of the Armed Forces.
To fill out the online form, you are going to need:
There are quite a few reasons why you might want to choose Simple Fast Loans:
Life is full of surprises. If you haven’t had a chance to prepare an emergency fund, an emergency personal loan might help you take care of unexpected expenses.
Simple Fast Loans is a fully-licensed company that is ready to assist you in getting the money that you urgently need. Fill out your online inquiry today and take back the reins of your life!