Whilst we all try to be as financially prepared as possible, it can happen to the best of us. Sometimes, an emergency with money arises when you least expect it, and you need some help to get yourself out of the period that you’re in. That’s fine, and there’s nothing to be worried about when it comes to seeking help, as there are plenty of options out there if you need a hand back up to above the red. We’ve noted them down here, so you can say goodbye to those sleepless nights, and hello to being financially secure again.
Speak to your family and friends
Ok, so you may think that there is nothing more embarrassing than having to admit that you need a little bit of financial help, especially to your friends and family members who think that you’re doing great. But the truth is, they’ve all been in the same boat at one point or another, and they could help you out by lending you a bit of cash to tide you over. Don’t make them feel awkward about it, and draw up a contract if you want to make sure that they’re at ease about the repayments. You may feel like this is excessive, but it will help both parties to feel secure.
Look at your options for a credit card
Credit cards are a popular choice now, and pretty much every American has one of these for financial emergencies. Whilst you may be thinking about this option, there is the possibility that you have limited or no credit history, which means that lenders can’t see whether you have a good repayment record. However, there are many options out there, so don’t believe that you won’t get a credit card just because you don’t have an extensive history (this could just be because you’re young, or a student, for example). Check out credit cards for no credit history if you’re interested.
Get a loan
When it comes to financial emergencies, you may not have the safety net you need, and you may also not have the time to apply for a credit card and wait for it to be approved. If you’re in this situation, you can apply for a loan, too, and there are many quicker options that don’t necessarily involve a trip to the bank. There are private companies that offer loans, but be mindful and make sure that you read all of the terms and conditions before you agree to go through with it. You could end up with a lot of regrets if you find yourself in a worse financial situation as a result.
So, there are many ways that you can rectify a financial emergency, from asking your family and friends for some help, to looking at your options when it comes to credit cards and loans. Whatever you decide to do, make sure that you go down the right route for you, and read all of the conditions before you dive in, and you’ll be back on the road to financial stability in no time!