Financial emergencies are pretty much unavoidable when you’re adult. You’re going to have to deal with one sometime in your life. It could be that you have an unexpected medical bill or you have to have your car undergo massive repairs.
Some people have rainy day funds for situations like this, but sometimes it can ‘rain’ a little too much over a short period of time. In that case, you have no choice but to find the required money one way or the other. In this article, we’re going to be taking a looking at a few quick methods for acquiring cash.
Sell Of A Few Things
All of us have a few things around the house that we don’t have a use for anymore. These could include appliances, toys, video games, clothes…etc. Thanks to online marketplaces like eBay, Craigslist or Amazon you could sell these items of fast.
Alternatively, you could drive to your local pawn shop and see how much you get for your belongings. The advantage is that you could buy them back at a later period of time.
Get an Unsecured Loan
With this type of loans, you don’t have to offer up collateral as a guarantee of repayment. The approval process is fast and you can usually get the funds in about a day or so. There are a few different types of unsecured loans including:
- Personal/Business loans – find a lender of fast, honest, unsecured business loans in Sydney isn’t all that hard. As long as you have a good credit score, borrowing a decent amount of money should be easy.
- Credit cards – if your financial emergency can be covered with your credit limit and balance, then go for it.
- Personal line of Credit – it’s a good idea to have a personal line of credit opened up with a bank, credit union or another type of licensed lender. This way, you borrow instantly whenever there’s an emergency.
Borrow From Friends and Family
It might be a bit embarrassing to ask money from a friend or family member but sometimes it can be one of your only options during an emergency. The benefit is that you won’t have to pay interest and you may get a comfortable grace period, depending on your relationship with the person.
Of course, it’s best not to make this a habit. Things like this can really strain your relationship with someone.
If all you need is a small amount, (around $50 or so), then consider donating some of your plasma. Usually, plasma donation centres pay within the same day but you should always call ahead and confirm. Donating plasma takes only a half an hour but if you’ve never done it before, you’ll have to take a physical exam and get screened first.
And that’s four of the quickest ways to get your hands on some money!
Financial emergencies are pretty much unavoidable in life! Even if you’re very careful with your savings, an unexpected event can quickly throw you in hot water. That’s why it’s best to be aware of speedy ways of acquiring cash.