If you were to strike upon a financial emergency, would you be prepared?
Believe it or not, half of all Americans experience a financial emergency every year. Yet, most of them are not prepared to face their financial troubles.
Perhaps you’re already facing a financial situation that’s pushing you over the edge. Whether it’s unexpected medical bills, a car repair, or accidental overspending that’s caused your circumstances, you need to know how to raise money fast.
Although you might feel alone when your back’s against the wall over money woes, your circumstances are not as uncommon as you might think.
In fact, despite modern-day Americans’ attempts to veer to the economical bright side, millions of U.S. citizens are just $400 dollars away from facing a dire financial hardship.
If you’re looking for a way to make some quick cash to climb out of a financial black hole, we can help.
Read on to learn some great tips, even if you feel like there’s no hope!
How to Raise Money Fast When You’re Short On Options
Let these three be considerations in your financial journey!
1. Dip Into Savings
By now, it may go without saying — but if you have an emergency fund, now is the time to use it.
Of course, many people don’t have a rainy day fund to cover the costs of a major added expense.
If you’re among those without accessible savings, don’t despair. There are a few other tricks that you can try before you throw in the towel.
2. Sell Personal Items of Value
If you have items of value lying around, you aren’t totally out of luck.
You can list jewelry, tools, gold and silver, and other sellable items on seller sites, such as eBay or Craigslist.
If you’re super-short on time, you might check with local pawn shops to find out what they can offer you.
But, beware of high-interest rates and a limited time period to buy back anything you happen to pawn.
3. Get a Loan
Perhaps you have a friend or family member that won’t mind lending you cash until you get back on your feet.
But, if this isn’t the case, not to worry.
Today, many lenders offer quick loans to help out customers who are strapped for cash. Terms tend to vary drastically, depending on your credit score, credit history, amount of time needed to pay back your loan, the amount of money you need and other variables.
Still, when you need money now, a quick loan can be a lifesaver. Plus, there are options available even for borrowers with less-than-perfect credit.
Stay on Top of the Economy
Naturally, no one wants to know how to raise money fast if they can avoid such a crunch.
One way to keep your finances in check is by staying abreast of what’s happening in the economy. This is especially important when dealing with a shaky economy, or if you happen to have stocks or other economically vulnerable assets.
Check out our website to find out the latest financial news and stay up-to-date on the current economy!Wake up Right! Subscribe to our Morning Briefing and get the news delivered to your inbox before breakfast!