I am a financial advisor, and I have been working as one for many years. As you can imagine, I have heard everything there is to hear in the financial world. I have seen it all, both positive and negative things. I receive a high number of mails and phone calls every day from people who are truly desperate, they are going through hard times and they need help, but they need it right away, waiting is not an option for these people. It is not that they waited until the last second to ask for a hand, they literally had and have no seconds to waste. Emergency surgeries, expensive medicines, unforeseen car breakdown… the list could go on forever.
When emergencies arise, and you have no means of financially facing them, what do you do? There are many different answers to this very same question, and we are going to mention them one by one on this article.
Resort To Savings Account
Perhaps this is one of the most obvious answers, but it is worth mentioning. Not many can claim that they have savings, but the ones that do, have a peace of mind which is priceless.
When I was a little girl, my grandmother fell and broke her hip. She was an elderly woman, but still the doctor recommended surgery to have her hip replaced. It was a pricy operation the insurance company would not cover. My parents had been saving for my college education ever since I had been born. They found themselves in a huge dilemma, should they use the college funds for my grandmother’s operation or should they find other means of finance for the surgery? Of course, the emergency came first.
Friends And Family
Whether you have fallen deep in debt due to poor money management or a gambling addiction, it does not really matter. Well, it might matter to a lender or financial institution, but when it comes to your family, they will love you for who you are, no matter what has happened. Needless to say, they will always be there for you if you are going through a financial emergency (or any type of emergency for that matter). So why not resort to their lending hand if you have fallen on hard times?
Some people might be more inclined to applying for a loan than to asking their family for help. Of course you have the last word on this, but bear in mind that there is nothing wrong in asking your family or friends to help you out of trouble if they are able to. What is more, you will not be facing interest rates and they will probably be delighted to help out!
Applying For A Loan
I look upon this alternative as a last resort. It depends on what the emergency is and on how much money you need, of course. Keep in mind that you will be paying interest rates on the money you borrow, and that some loans take longer to be approved. A payday loan is a very good choice if you do not need a large sum of money and if you are in a hurry for finance.
Lara Sawyer is a professional loan advisor used to solving bad credit problems and helping people secure home loans, carloans, personal loans, unsecured credit cards, home equity loans, refinance mortgage loans and plenty of other financialproducts. Whether you want to learn more about Quick Unsecured Loans and Very Bad Credit Loans or find information about other loan types, just visit: http://www.fastguaranteedloans.com/