Managing your finances can seem overwhelming, especially when you're dealing with unexpected expenses or significant life changes such as job loss or medical bills. If you are in a situation where you need money right away, there are options available to you. Here is a list of ways to get the money you need.
If you’ve been saving up for an emergency, then you’re well prepared for when life doesn’t go your way. Most people neglect to set up an emergency fund or set aside savings for a challenging situation.
If you’ve got a fair amount sitting in a dedicated savings account for emergencies, then it’s well worth relying on that fund to cover your expenses, especially if those expenses could become more costly by not paying.
For example, if you’ve recently discovered a pest infestation in your home, then it’s always better to treat the damage upfront rather than letting the bugs continue to damage your home.
For example, termites can deal over $15,000 worth of damage to your home, while the average termite treatment costs $1,000.
If the money in your emergency fund is set aside for a rainy day, then consider using it as emergency money now.
Another difficult decision you may have to make is using your available credit to tackle emergencies. While it’s not always ideal for racking up a large credit card bill, it’s usually preferable to ignore the emergency altogether.
If you need urgent medical treatment, don’t put it off if you have the available credit to mitigate the expense.
Credit cards are intended to facilitate daily purchases. Still, if you’re having some troubles, you might consider leaning towards the max on your limit and paying off the incurred debt in installments.
Doing so can be a better option than a loan if you’ve got the wriggle room to manage the expense responsibly. You may have to sit down and calculate your expenses to ensure you’re within your means to do so, but it’s certainly a viable solution to get emergency money.
In addition, most credit cards offer some cash advances if charging your card doesn’t work. Of course, the amount you’ll be able to borrow will vary, and you can expect to have a higher interest rate on a cash advance through a financial institution. Still, it may be preferable to sitting on an emergency and hoping it goes away.
As a general rule, you should never involve your family or friends in your personal finances. Relationships are hard enough without adding a financial element to the mix, but when you urgently need money, there is a way to safely navigate this circumstance.
Consider your financial situation carefully and assess whether there’s anyone in your family or friend group that you would trust to lend you money. It’s certainly not easy to ask, but if you are very close with your family, it’s worth asking to save yourself the headache of figuring out how to pay for an emergency.
Of course, you should treat this borrowing option as seriously as a traditional loan. Your family member or friend may be willing to lend you the money for free, but both you and they should have a written record of the transaction.
Don’t rely on your memory concerning how much you borrowed and what you promised to repay, you never want to step into the financial minefield of nonpayment with a family member, so make sure that it’s within your means over the next year or so to repay them accordingly and that you go through your repayment plan with them.
Again, it’s not a generally advisable route to take, but credit cards can help offset the immediacy of an expense to defer the payment to a later date.
Maybe you’re waiting for your next paycheck to roll in or are expecting business to pick up in the next few months. Whatever the case, a new credit card can help you charge emergency expenses to the card without worrying about paying it back immediately.
Of course, you should always be actively planning your finances to avoid debt, but if you need emergency money that you know you can pay back over a while, securing a new credit card might be an option to consider.
Loans can be an option when you need emergency cash now. Direct lenders can offer you a lump sum of money that’s paid off in regular installments, and the best part is that these loans can be personalized to your needs.
Need a loan for medical bills? Car repairs? Whatever the case, a loan can get you a set amount of money that you then pay off in installments.
Loans are a financial resource whereby you borrow the money you repay over time in installments.
These loans come in two types: secured and unsecured.
In addition to the type of loans available, there are also different types of lenders: direct lenders and traditional lenders.
The requirements for getting a loan through a bank are usually extremely stringent; moreover, the process can be laboriously slow, since the bank itself doesn’t necessarily have autonomy over the money it lends and must stick to rigorous guidelines.
Put simply, your loan application needs to be processed through several third-party institutions and may take days, even weeks, to be returned to you with a decision.
Simple Fast Loans is a direct lender that offers installment loans you can consider during a financial crisis. The loan operates on a fairly simple principle: apply for the loan, get your money if approved, and start paying it back in installments.
Simple Fast Loans is nationally recognized and is a fully-licensed financial services company that provides online loans, marketing many loan services for your convenience. Here’s what you can expect when you get a loan through Simple Fast Loans:
Simple Fast Loans understands that the stress accompanying a financial emergency can be trying, which is why their application process is lightning-fast. There’s no waiting around to see if you’re approved for the loan — you’ll know instantly once the application is complete.
All the information you provide is securely verified electronically, meaning you can get a loan right from the comfort of your home. Your identity, income, and bank account information are all processed through the online application.
When you need cash, you need it urgently for an emergency. That’s why Simple Fast Loans offers installment loans from $200 to $3,000 that you can use for troubling times.
The amount you can borrow will depend on your income and capacity to repay the loan according to the terms.
Additionally, the amount you can borrow will vary by state. When you sign up for an installment loan, you need never fear hidden fees or terms designed to leech your money.
Everything Simple Fast Loans does will be shown upfront, and all documents will be presented for your review before signing the loan.
To get started, fill out the online application. You’ll need to be at least 18 years old and have these items to qualify for an installment loan:
All of your personal information is verified online, and Simple Fast Loans will never share or sell your data.
It’s important to understand when to consider a loan as a financial resource. After all, they’re not to be used for trivial purchases and are a major commitment that you should take seriously. You might consider taking out an installment loan in these circumstances:
Life is surprisingly good at throwing curveballs, and when you are struggling to manage your finances after an emergency, know that options are available. If you have money available for an emergency, consider using it to avoid further penalties.
Should you run dry on financial options, consider a loan from Simple Fast Loans. The expedient, straightforward application process can help secure you up to $3,000 for an emergency, giving you the financial footing you need to stay safe. If that sounds like the right option, get started online today!