Whether you face an onslaught of hospital bills, a hurricane, or joblessness hits your home. One thing is sure- you need cash urgently.
Financial emergencies catch one off guard. If you are in a fix often, you are not alone. About 4 in every 10 face financial emergencies every day.
What will you prefer in these situations?
One generally calls up a friend, hits the neighbour’s door, or checks out a close relative for instant cash. Although they may help, most calls get answered.
What would you do now? Would you leave it to chance?
No, certainly not. You do not even need to when you have so many options to tap into in emergencies. Moreover, these options may help if you need money fast without damaging your finances.
Let’s begin with the aspects that can help you with quick cash.
7 Simple Ways to get cash for emergencies
It may sound like a dream or a fantasy event, but there are some ways to get quick cash. These benefit a student, self-employed, employed, retirees, and even the unemployed.
So, why are you delaying it? Let’s take a deep dive!
Fill up online surveys
Identify the best surveys with authentic payment gateways. You can find numerous online. It is important to check the type of surveys available and the payment. Once you choose the best ones, you can fill them up in minutes.
Generally, surveys clear the payments within 3-7 days of the surveys. Check the ones with instant cash possibilities. It is the best way to get quick cash without the legwork.
You can get cash immediately by playing survey games and watching videos.
Sell old stuff
Anything around your house catching dust can help. You can set it up for sale. You can spot items like- old paintings, souvenirs, clothes, books, etc., that could help others.
The condition of the stuff may help you decide the price. Or else, check the average price online and sell it accordingly.
You can get some money quickly and within the same day for your needs. If you do an in-depth search, you can spot any item worth even £5000. Yes, you can receive such an amount in your account in seconds.
Cover critical expenses with payday loans
Do you often find it hard to save some out of earnings?
If you have a million things to check, but emergencies catch your attention, Payday loans can help.
It also helps get the cash on the same day.
“Okay, but why should I tap payday loans? Is there any benefit?”
Yes, there are ample benefits to tapping payday loans for your use. Here are some most exciting ones:
- Do not require a good credit score
- Even the unemployed can qualify for part-time income
- No detailed credit checks. It keeps your credit score intact
- Fixed monthly payments
- Get money within 10-15 minutes
By ensuring regular payments, you can improve your credit history as well. However, Identify the affordability and borrow only what you can pay back comfortably.
Request an advance from the employer
If you share good relations with your employer, it would not be a problem. He may be eager to help you with cash constraints. Tell him about the advance money you need. You may get it quickly in your account.
It is ideal for individuals sharing good experiences in the company. If you have been in the job for over 1 year, the employer may help you. Well, you may not have a clear idea:
“What if he does not approve?”
Do not worry.
Analyse the practicality of the amount you need as advance. Consider whether your employer is comfortable with that. If not, request an amount lower than you need. He may agree.
Get affordable loans for bad credit
History of missed payments, pending bills and credit card dues reveals poor credit history. Getting a loan from a mainstream lender gets challenging here.
So, it means I cannot get the cash for emergencies?
No, you can still get the loan.
Some lenders provide very bad credit loans to people with unmanaged finances. These are short-term loans ideal for people with low incomes. It helps them close critical cash needs without worrying about rejections. One may qualify for the loan with relevant income evidence.
Moreover, whether you earn a part-time or full-time job, you get the loan instantly.
Get cash against life insurance
If you have life insurance running in your name, you can use one of that to your benefit. Borrow an amount from it and meet your needs. However, after maturity, you will receive a lower amount than you are entitled to.
The company will deduct the payment that you borrowed for urgency. It can be a great idea if nothing works in your favour. Moreover, you can get cash from your own funds without paying anything additional.
Isn’t that amazing? Before doing so, ask the insurer about the impact it will have. Different insurance companies share different policies. So, clarify once.
Consolidate some debts
Though you may not have thought about it earlier, consolidating loans certainly help. It helps in dire cash requirements. You do not need to do anything. Explore the loan rates and apply with the lowest possible one. It will help you release the cash and use it for the individual purpose. You may get a lower rate and repayments.
You can even transfer your total debt balance to a balance transfer credit card. Usually, one gets it at 0% introductory interest rates.
Make sure to clear the balance before the end of the introductory period.
You may have a question like-
Would it be ideal if I am already paying low interest?
It may be better if you already have a low-interest loan with comfortable repayments. Moreover, getting one with bad credit may hurt it even more. Analyse the practicality before applying. If not suitable, the above-listed aspects may help.
Anyone can spot financial challenges in emergencies. All one needs is to have a knock over the available options. It would help you eliminate the delay and get fast cash. Short-term cash options like payday loans can be helpful in talking about quick cash. It helps one get the needful without any unnecessary formalities.
Lisa Ann has developed a well-experienced professional career. From managing the staff of more than 50+ loan experts at Fastmoneyfinance to boosting the delivery of various loan offers, she has acquired many challenging roles to come out with the best results for the company. Lisa Ann is a Senior Content Author and the Chief Financial Advisor at Fastmoneyfinance. To back her massive experience in the UK’s financial industry, she has the postgraduate degree and diploma in Business and Finance.