The Ultimate Survival Guide To Financial Emergencies

September 21, 2020 | Emma Frost

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Are you going through a financial emergency and have no idea how to survive it? Well, this guide can offer you a lot of help. We’ve all gone through some kind of emergency at one time or another. And they usually happen when we least expect it or are ready for it. Going through any kind of financial emergency can be draining – both on you and your finances. From medical emergencies, sudden home repairs, or sudden job loss, these are all examples of financial emergencies. Actions like researching “title loans near me,” looking at payday loans, or looking at signature installment loans are all good actions to take. Here are some things to create your very own ultimate survival guide to financial emergencies.

Guide To Surviving A Financial Emergency

Restructure Your Budget

With any financial plan you come up with, structuring and restructuring your budget has to be included. Coming up with a budget is just half the battle. The other half is sticking to the budget you’ve come up with. It’s easy to stray from your budget when things are financially stable. You’ll start giving yourself a little more wiggle room to spend money on unnecessary things. But then you are hit with an emergency and you can get thrown off course quickly. It is always good to restructure your budget if you feel you’ve deviated from it. Having a written record of your spending and what your original budget was makes it easier to make some changes. With a written record you know exactly how much you are spending and on what.

Slow Down On Your Spending

This one goes in hand with the first point. Now that you have your budget structured, it’s time to put it to work. That means slowing down – or even stopping altogether – the unnecessary spending. Instead of eating fast food a few days every week, try cooking more. Instead of buying that overpriced cup of coffee every morning, switch to making your own cup. Step away from those sales that look like great deals; you could just be buying items because they are on sale and not because you need them. Slowing down on unnecessary spending can give you the extra bit of cash you need to grow an emergency fund.

Set Your Emergency Fund

Like I mentioned above, slowing down on your spending can help with your emergency fund. But if you’re wondering if you need one, the answer is yes. Everyone should take the time to build an emergency fund. This fund is there for you when you go through an unexpected emergency. Financial experts say you should have an emergency fund set for three to six months’ worth of cash. They say you base it on how much you would need to stay afloat if you found yourself unemployed. You should also keep this fund separate from your savings account. Your savings is for achieving big goals like buying your first home. Your emergency fund is strictly for emergencies you cannot handle with your own paycheck.

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Research Title Loans

One thing that has to be in your financial emergency survival guide is title loans. Researching “title loans near me” will let you know just how we help you handle unexpected situations. In Idaho, you can qualify for anything between $300 - $15,000 in quick cash using your vehicle’s title as collateral. This loan is not to pay off your debt or give you permanent financial help; but this will help out with tough, unexpected emergencies. And our process is easy to go through and understand. It all starts with you filling out our online form with your basic information. Once you submit the form, you will receive a phone call from one of our loan representatives at the nearest location. The loan will answer any questions, let you know the next steps, and tell you what to bring in. You will have to bring in the vehicle you plan on using, the vehicle’s title, and your driver’s license or state issued ID.

Get A Payday Loan

Aside from title loans to help you out, we also offer payday loans in Idaho! These loans are great if you do not own a vehicle or if there is a lien on your vehicle. If you are in between paychecks but cannot wait due to your current situation. Let’s say you have a missed bill or you are short for groceries, a payday loan can help get you out of that jam. With a payday loan, you can qualify for anything up to $500. Usually with this loan you do have to pay it back by your next paycheck; so keep that in mind if you are thinking about getting one. Like our online title loans, if you are approved then you can get your cash quickly – 30 minutes or less, to be specific.

Keep All Of This For Your Guide

All of this information put together can give you the ultimate survival guide you’ve been looking for. There is no reason why you should let a financial emergency put you in ruins. If you follow these steps and make sure you understand your options, you could actually deal with your emergency. Whether it is something big like a medical emergency or you simply forgot to pay your bills, you can have them handled. Whether through our quick cash title loans, our helpful payday loans, or through an emergency fund, these tips can help managing your emergencies a lot easier.