Cash strapped? You’re not the only one.
Heck, less than 40% of Americans could cover a $1000 emergency expense. That’s bad news if the car breaks down, a pipe bursts, or you suffer a dental emergency!
Thankfully, it doesn’t have to stay this way for long. Know where to look and you can quickly and easily get your hands on the money you need. Want to learn more?
Here are 4 ways to get quick cash in an emergency.
1. Ask Friends and Family
Your network of loved ones and close acquaintances is often a good first port of call. Ask yourself: could anyone you know lend you the money?
If so, you’ll be able to handle whatever emergency has arisen in record time and repay your loved one in due course! Top tip though: agree on the terms of the loan beforehand and always make your repayments on time. The last thing you want is for it to create tension with a close friend or family member.
2. Sell Your Stuff
Liquidating assets is another viable strategy here. After all, your house might be full of valuable items you no longer use! Hosting yard sales or advertising it on sites like eBay is an effective way to free up capital when you need it.
As an aside, you can also sell things like your life insurance policy nowadays. Always do your research beforehand (a quick Google search of “sell my life insurance policy” should do the trick), but it’s a definite option for anyone who needs fast cash.
3. Dig for Change
How often do you search for something down the back of the couch and find long-forgotten loose change? Well, imagine how much other money’s lying around in the house (and car) just waiting to be found!
Of course, this strategy isn’t going to solve anybody’s long-term money issues. But it might earn you a hundred bucks or so to put toward the emergency.
4. Get a Cash Loan
If you’re really in a bind, then you could consider taking out a quick cash loan online. Unlike traditional types of borrowing (e.g. from the bank), many of these companies pay out in minutes! It’s as simple as doing a short application on their website, saying how much you need, and hitting “submit”.
Be very careful though…
The internet’s awash with loan sharks who take advantage of people in your position. Accepting emergency cash with sky-high interest rates can such you into a vicious cycle of ever-increasing debt. Stick to reputable companies, always read the terms and conditions, and use this strategy as a last resort!
Get Your Hands on Some Quick Cash
If you’re one of the tens of millions of Americans who have less than $1000 in savings, then all it takes is one unexpected event to put serious pressure on your purse strings!
The good news is there are numerous ways to access quick cash when you need it most. We hope the suggestions in this post have shed light on a few of them. Ready to read more articles like this one?
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Hemant Kumar is a project manager at Tridindia with more than nine years of commendable experience in writing about LMS, translation, and IT. His unmatched talent and passion for digital marketing gave him the opportunity to work as a multi-tasking project manager at TridIndia’s sister company, Link Building Corp. Today, he contributes to the world by imparting knowledge on SEO, link building and internet marketing etc., that helps business owners grow their online business.