Emergencies can happen at any time to anyone. There are all different types of emergencies. Some could involve physical injury or illness, while others might be something like your car engine failing and needing replacing.
Just about every emergency situation will require some financial input to help out or get it resolved completely. So, if you find yourself face to face with an emergency and you need money fast, where are you going to find it if you don’t already have the cash on hand?
You Could Borrow the Money From a Friend Or Family Member
This is often one of the first options people go with when they are in a predicament. It really depends on how much money you need to resolve something, whether hitting up friends or family members is truly a viable option.
If you needed thousands of dollars, is there anyone you know who would (or could) lend you that kind of money? When people borrow money off their friends, usually it might be $50 or so. Thousands is an entirely different scenario altogether.
If it’s an option and you can find someone who will lend you the money, then it’s a great option to have, as the loan may be a zero-interest loan. On the other hand, it can be deflating owing a friend or family member money as it’s more personal.
If it’s a possibility, you’ll just have to weigh up whether it’s worth putting strain on a personal relationship to solve your problem.
Do You Have a Credit Card?
Having a credit card that you reserve only for emergencies can prove to be a lifesaver when you find yourself really stuck and need a quick way out financially. Credit cards, when used liberally, can spell big trouble due to their high-interest rates and minimum monthly repayments. Having said that, as backup, emergency funds a credit card can be extremely useful to have on hand.
So long as you have the means to repay the debt in a reasonably quick time, then an emergency credit card can really give you peace of mind when it comes to unexpected situations.
Are You Owed Money?
If anyone owes you money, then now would be the opportune time to cash in on that debt, if possible. However, being owed money isn’t necessarily about having loaned a friend or family member money at some point.
Money owed to you could come in other forms, such as lost superannuation, an unclaimed tax refund, your bank overcharging you on fees or under-paying you on bank interest, or even an inheritance or dividends from a trust fund.
Somewhere out there in the world, there could be money owing to you. Put some thought into it and see if there is some lost cash or unpaid debts that you can call in when faced with an emergency.
Having An Emergency Fund Is Always a Wise Idea
Not everyone saves money for a rainy day or emergencies, but if you’re someone who has been diligent with this, then now would be the time to access those emergencies funds you have stashed away.
For true peace of mind and knowing that you’re covered no matter what unexpected event in life comes up, having savings put away is one of the wisest moves you could ever make.
Have You Considered Emergency Cash Loans?
Emergency Cash Loans are really very fast loans that you can often have in your hands on the very same day you apply.
Private lenders are the finance companies of choice when it comes to loaning money for emergencies, due to the speed with which they deliver.
What is an Emergency Loan?
Basically, it’s an unsecured personal loan that is processed and delivered in a hurry so you can get your urgent situation resolved as quickly as possible. You need those funds fast, so a private lender offering urgent cash loans is definitely the way to go. With a private lender, you could borrow from as little as $500 and anything up to about $25,000, with cash in your account as quickly as the same day.
If you’re asking, “Where can I get an Emergency Loan in Australia?” or “what’s the best debt consolidation loan in Australia?”, then look no further than Cashify for emergency funds. We’re here to help you get your situation under control and resolved as soon as possible, so contact us online today.
Disclaimer: Please note this content is of general nature only and does not take into account your personal objectives, financial situations or needs. For advice tailored to your financial situation, it is advised that you seek guidance from an accountant or financial advisor. The information contained in this article is correct at the date of publication.