8 Lessons Learned: Money

Where to Find Money for Emergency Funds

It has happened to almost everyone who is starting out in financial responsibility, to find themselves out of money when emergency comes. And, if we are careless on how we spend, there will comes a time when we will just be surprised to see that our bank accounts have actually dried up. At one time or another, all of us will experience being caught having nothing to spend when emergencies come.

And finding yourself in this circumstance when situations suddenly come up one after the other – your car breaks down, you rent is due, a relative needs help – is really unfortunate and crippling. And you would then want to turn back the clock and wish that you didn’t spend that money on that thing, which you now find quite useless or a waste. But, it’s not the end of the world for you since there are ways around this with a little cleverness and fast action.

If your salary is coming very soon, the best option you have for emergency is to go for fast cash loans. This fast cash loan can easily be paid up once you receive your salary. A good credit standing to your name will get you that cash loan for your emergencies. Be diligent in your repayments to have a fast clearing of balance, which can help you maintain your good credit standing.

Borrowing from the bank of your parents is another option. It might be shameful for borrow from your parents but just the same if you are going to do it, make sure you repay them as fast as you can. It is not really nice to owe your parents money when you are supposed to be already financially independent. Your parents will surely not charge interest, and that is one thing you should be happy about.

If you can sell something to gain money for emergency, the better. Money for emergencies can be had quickly by selling stuff. Sell things that you own that you can find in your house for a quick sale. Although this may not be easy, emotionally, you might need to part for some of your prized possessions. You should learn to prioritize; is paying your rent more important than that gadget or not?

Sometimes you find work being offered in your area, and if the time is right for you, sign up for the job. If they ask for volunteers for overtime in your job, present yourself. Whatever extra you earn can pay for interests of loans, and perhaps help you start your emergency fund.

People in debt are those who do bad budgeting. By all means, avoid going into debt. Take this time to learn responsibility. If you have come out of those trying situations, re-assess your weekly budget so that it will not happen again. And, try and save more.