There are many reasons that you may need some money, and fast. It could be that you have an emergency, like your car broke down or your water heater in your home quit working. Maybe you have to go on a last minute trip to help a sick family member.
Not everyone has someone in their family, or friend’s circle, that they can borrow money from. And, not everyone has a savings account setup. In fact, many people these days are living paycheck to paycheck, and that can make life pretty difficult, especially when a need for a lump sum of money suddenly arises.
Here are some things that might help you get some money, quickly, when you need it for an emergency.
Getting A Payday Loan
One of the quickest and easiest ways to get money when you don’t have any and need it is by getting a payday loan. You only need to make a certain amount a week in order to qualify, and you get a certain amount of time to pay it back. If you just need about a thousand dollars you can get a loan that will dig you out.
Payday loans aren’t going to give you a ton of money, so if you need more than that you may need to go through more than one outlet. That could be through bank loans, or maybe by selling some things to pawn shops.
Rainy Day Fund
Start a rainy day fund now, and you’ll have some money to get you through rough patches. You could have the money in a savings account, but sometimes those are hard to get to in case of an emergency. Instead, consider stashing some money somewhere in your own home. That stash can add up quickly if you are continually adding some bills to it here and there.
When it comes to savings, it is suggested you have 3 to 6 months worth of bill money stowed away. This is in case of major emergencies, like job loss. You want to be able to keep your roof over your head, electricity on, and food on the table until you have income coming in again.
Use Your Credit
Credit cards can be great saviors, but you need to know how to use them properly unless you want to end up in debt. Save your credit cards for emergency money only, and then make sure that you work on paying them back in a timely manner. If you have bad credit you may be paying extra in fees and interest, and the longer you take to pay it back the more you’ll be paying.
If you keep your credit card(s) paid off in a timely manner you will avoid bad credit, and it will make it easier to get loans in other instances when you need money.