Emergencies happen. If you don’t have an immediate emergency fund it can be difficult to meet problems head on. People who need money today have a number of options available to them. This guide is going to show you five of the quick ways in which you can get money today.
Put it on the Credit Car
Short-term problems can be confronted through taking advantage of your credit card. Putting the problem on the credit card isn’t a viable long-term option, but it can solve immediate problems. Credit cards will give you access to some much-needed funding in a matter of seconds. Those with higher credit scores will benefit more from this.
Get a Quick Loan
A quick loan is relatively easy to obtain because all you need is proof of income and some ID. You can find quick loan lenders both online and offline to help you with this. They have a variety of online calculators to help you work out how much you can borrow and what the repayments will be. Make sure you review your own financial circumstances before deciding on whether you can afford one of these loans.
Borrow from Family and Friends
Sometimes you might not be able to find the lender for you. This is where borrowing from family and friends can come in handy. Tell them why you need the money and be clear on when you’ll pay them back. Setup a repayment plan and put it down in writing. Show that you’re committed to paying them back and demonstrate how grateful you are. Borrowing from family and friends will enable you to get money without worrying about banks and credit scores.
Get a Secured Loan
A secured loan is a fancy term for a loan that requires an asset to be accepted. The simplest and fastest type of secured loan is the pawn shop. You can submit anything of value, including jewelry and power tools. They will value the item and decide how much money they can offer to you. Pay the loan back and you’ll get your item back.
Online Personal Loans
An online personal loan is different from the quick loan mentioned above because these do use your credit history to determine whether you can get a loan. They do allow you to get cash within 24 hours, but these lenders are extremely picky about who they lend to. Without a high credit score, you’re going to struggle to get a significant amount of money from them. The whole process takes place online, so you don’t have to worry about waiting for the lender to make a decision, or submit any complicated forms.
Conclusion – Many Ways to Borrow
There are many ways to borrow money in a pinch. Examine your own financial circumstances and make an informed decision on what the best option is for you. The right borrowing option can get you out of a sticky situation and make sure that you have the funds needed to meet absolutely any challenge.
I borrowed money from my family when I needed it. Not everyone has that option. I’m happy my family let me do this. My roommate can’t get money from her family and she has a harder time when emergencies pop up.
Thats good to hear Patty. Personally, Ive been on the giving end, rather than receiving. Im just glad I am fortunate enough to help my family out
Borrowing from family can be great considering you dont have to pay interest….but its hard to swallow my pride and ask them!
Speaking as someone who has loaned, or simply given, money to family on numerous occasions, I must say that you shouldnt feel embarrassed. I would venture to say most relatives, if not all, understand the situation you are in.