Quick Fixes for Some of Life’s Common Emergencies

Dealing with a financial crisis is rough.. When you don’t have the financial means to handle the matter, it makes things even worse. Everyday people run into problems large and small that prove to threaten their finances and alter their lives. From an inoperable car on the side of the highway to losing a job due to budget cuts, anything could happen in the blink of an eye. Naturally, having a rainy day fund would help to ease the blow, but when you’ve exhausted those funds, or never had anything saved, to begin with, your options become bleak.

Fortunately, there are still ways around your financial crisis. The below suggestions have been used by individuals in the past to handle their emergency matters fast.

Side Gigs

Side jobs have become the new method for increasing your income. They can easily be started and generate enough cash to cover everything from a spike in your energy bill to tide you over until you’re able to find a new full-time job. You can babysit for friends, tutor some of your child’s friends, start an at home summer camp, walk dogs, house sit, and a plethora of other things to bring in extra funds. The classifieds are a great place to look for opportunities to make cash the same day.

Get Rid of Some Things

Sometimes in order to resolve the bigger problem, you have to make sacrifices. Selling some of your belongings can generate a considerable amount of cash. You can sell old jewelry to a local jeweler or pawn shop, you can recycle your junk car for cash, you can also turn in your old cell phones for instant cash.. Other belongings like clothes, shoes, furniture, and electronics can be sold at a local yard sale or online.

Installment Loans

Applying for a loan through a traditional bank is time-consuming and requires a lot. You’ll need to schedule an appointment and provide documentation that can include your taxes, bank statements, outstanding debts, and more. You’d also be required to have collateral and good credit. If you don’t have the time or the credentials for a traditional loan you can apply for installment loans online instead. They don’t require a credit check and the only eligibility requirements are that you’re at least 18, have a valid checking account, and have an income that meets their minimum limits. You could have funds deposited in a day and set up smaller monthly payments to pay the loan back in full.

Contact Your Creditors

If your financial emergency has to do with a past due gas or water bill and you don’t have the money to cover it, you may be able to negotiate with the creditors. Contact your service providers and explain the reason you’ve fallen behind. Then, suggest a dollar amount that you can afford to pay each month to catch up. Some companies will be willing to work with you if you’re otherwise a good customer. According to the FTC, there may also be programs they can recommend which will cover all or a portion of the bill on your behalf.

You just never know when things could go awry in your life requiring you to dig deep into your pockets. As you use these solutions to resolve the immediate problem, remember to start building an emergency savings account so you can avoid the hassle in the future.