Ways to Come up with Cash Fast for an Unexpected Emergency

For anyone living on a strained budget, an unexpected expense like a home or a car repair, school tuition, or sickness can create a major setback. Life happens and unfortunately every now and then an emergency will come up that requires you to have access to cash quickly. The key is to get yourself on a budget so that when something needs replacing, you have the money in the bank to cover it. In the meantime, there are ways to acquire cash fast to cover your current needs.

Installment loans

Installment loans are common and nearly everyone who works has one type or another. There are the secured loans like a mortgage and a car loan, where the bank has collateral. And, then there are the unsecured loans such as a student loan and personal loans, which are much harder to get an approval on. Since an unsecured loan has nothing to hold as collateral, banks usually only provide these type loans to people who have excellent credit. Chances are pretty good that if you're on a budget with no wiggle room, you've missed a couple of payments along the way and your credit score is well below the excellent status.  If this is the case applying for online installment loans might be your best option for the immediate future. These loans as a general rule are much easier to acquire and usually you can get an approval within 24 hours. There are several different types offered so make sure to read the interest rates and repayment terms to see which one best suits your needs. They offer a quick way to get fast cash to cover an emergency without the need for applying for a payday loan. 

Borrowing from a family member or friends

If you don't have the means to repay a short term online loan, you could contact a family member or friend to see if they could loan you the money for your home or auto repair and then agree to pay back by a certain date or a little each month. Most times family and friends are not going to charge you interest so you would only need to repay the amount borrowed, which can really save you a lot of money. However, sometimes when you borrow from your family you tend to slack off on the payments, especially if you really don't have it to pay. Borrowing money from someone you know only works if you treat it like any other financial obligation: it's a loan and you need to repay it on time. 

Yard sale

If you have nowhere else to turn to borrow money from and you really can't afford even low monthly payments with an online installment loan, you could organize a yard sale. If it's been a few years since you've cleaned out your basement and attic, you probably have items you no longer need that other people can benefit from. Large pieces of furniture, tools, pictures, toys, and children's clothing and furnishings are all big sellers at a yard sale. Comb through your supplies and then visit a few yard sales to see the pricing. Then advertise within your community for a weekend date. An organized weekend event can bring in hundreds of dollars. Anything that doesn't sell you can give to your local church or consignment shop. If you have jewelry that you no longer wear and you really need to get cash in your pockets you could visit a jewelry store or a pawn shop and see if there's any value to your collection. 

Life isn't always fair and just when you think you're starting to feel good, that's usually when an unexpected expense comes along. Online installment loans that offer an alternative to the payday loans have their advantages. They are easier to acquire and usually have low monthly payments available. Instead of setting you up for an almost imminent disaster, put yourself on a budget. This way you'll have the money to use when the next crisis comes your way.