How to Get Emergency Cash
- 1). Savings
You may have an emergency fund that you've stored away for rainy days. If so, this is the first place you should check for immediate cash. Cash out as much as you need. If your savings aren't enough to cover the whole emergency, use a combination of cash and some of the additional options below.
If you don't have an emergency fund, I highly recommend starting one as soon as you get back on your feet. - 2). Credit Cards
If you have a credit card that isn't over the limit, you can charge the amount you need for your emergency. Nobody likes going into debt, but if you don't have proper savings (or enough savings), a credit card can help make up for the lack of cash on hand. - 3). Payday Loans
If you don't have access to a credit card, you may qualify for a payday loan. In most cases, you will obtain the cash immediately after being approved, which can help in emergency situations. Please note that payday loans are often paid back at a much higher interest rate than you would ever see on a credit card. It's also easy to get borrow too often and get wrapped up in a mess where you can't afford to pay back the difference. Only use payday loans in extreme cases where you have very few options left. - 4). Personal Loan
If you need to borrow a large sum of money, a personal loan may be the best option if you can qualify. You'll have to apply at your local bank or credit union and it whether you qualify or not will depend on your credit and banking history. It might very well be worth a shot!