Don’t Get into Debt When You Need Money in an Emergency
No matter how hard you try to save money for a rainy day, there are still times when you can be caught off-guard. That rainy day might come around a lot sooner than you expected or you might have more than one emergency in a short period of time, preventing you from being able to build your emergency fund back up. When that happens, it’s important not to panic because you have more options than you might think…
Ask for Help
No one likes to ask friends or family for financial help, but if you’re suffering from a relax emergency, you will probably find that those around you are only too willing to help you out. This is one of the best ways to deal with an emergency because you will only have to pay back the cash you borrowed without extortionate interest charges.
Most of us have many things that we don’t really need and which can be turned into ready cash should we be in an emergency situation. Things like video consoles we never use, furniture we hate and bicycles we’ve used once and then left to languish in the garage. Get on Craigslist, offer them up and you might be surprised by how quickly you can make the money you need.
Cash that Check
If you would have enough money to cover your emergency, except you get paid by check, and it won’t clear quickly enough, instead of depositing it in the bank, find your nearest 24 hour cash checking place at www.24hourcheckcashingstores.com and get your money instantly. You’ll have to pay a small fee, but it’s better than taking out a payday loan and getting into debt.
Apply for a Credit Card
Okay, so this might not seem like a good idea on the face of it, but there are a number of credit cards, which you can see at http://www.doctorofcredit.com/list-of-credit which will issue you with an instant credit card number, so you can make purchases as soon as you’re excepted. If you’re confident you’ll be able to pay the money back at the end of the month, or if the card happens to offer 0% on purchases for an introductory period, this could be a good way of accessing the cash you need without accruing interest and getting into lots of debt.
Do Odd Jobs
If you need money fast, but you don’t need it right this second, asking around in your neighborhood if there are any people who need odd jobs doing might be a good idea. You’d be surprised how much money you can make mowing lawns, painting fences, and walking dogs once you make it known that you’re available.
Cash in Your Life Insurance
If things are really desperate, but you don’t want to get into debt, you could consider drawing some money out of your life insurance, if your policy allows you to do so. This will obviously lower your eventual payout amount, but you can always sort that out when your finances are in better shape.
What do you do when you need money in an emergency?