Financial hardship is one of the worst stresses that we can come across in our lives. While money shouldn’t equal happiness, not having the money you need, especially when you find yourself in a financial emergency, can mean more stress than you might be able to handle. Of course, there are payday loans online available in emergencies, but what else can you do to ensure that you stay afloat when things get tough? You may also consider 1 hour loans for emergencies and these top five solutions for you below.
Evaluate
When we find ourselves in any kind of trouble, it can definitely be a struggle to see the light at the end of the tunnel. Everything suddenly becomes overwhelming and coping with even the smaller, everyday things can be tough. Needing a pint of milk is no longer a case of slipping on your shoes and walking to the shop, and instead becomes a debate of whether you actually need it. The best thing you can do if you find yourself in a financial emergency is to take a step back, and evaluate. If you’re struggling, ask someone to step back with you so you can look at the situation together. Can you rearrange your priorities as far as money is concerned? Could you borrow money from a relative until your next pay day? How much will you need to get through the month? Ask yourself these questions and make sure you have answers. You’ll be able to tackle the issue head on with a much clearer head.
Prioritise
Speaking of priorities, this is the next big step you need to take when it comes to financial emergencies. When you have no money, assuming that you can’t afford anything is a natural conclusion to jump to, but trust us when we say that sitting down and working out what you need to spend money on and what you could go without for a while will save you more than you think. If you live close enough, you could opt for walking to work rather than driving or getting the bus, or you could buy cheaper supermarket-own alternatives for a few weeks while you get back on your feet. Prioritising will help you make sure you’re putting your money where it’s needed.
Negotiate
When it comes to bills, loans, due payments and more, you’d be surprised just how many companies are willing to negotiate with you about your funds. If you have a sudden financial emergency you need to cater for, but a collection of overdue payments waiting to go then make sure that you speak to those that you owe money to. While not all will accept a late payment, some may be more inclined to allowing you an extension if they are sympathetic to your situation and know that you are otherwise trustworthy. After all, they want their payments, and waiting for it rather than losing your custom can sometimes work out in their favour.
Earn
If you have a full-time job but still don’t have enough money to deal with your financial emergency, you could opt for taking up a second job, and it doesn’t have to be a permanent commitment. In fact, with Deliveroo and Uber both becoming big in the past couple of years, the world of flexible work is bigger and better than ever. Taking up a part-time position with Deliveroo, for example, could mean that when you need the extra cash, all you have to do is clock in and work and Uber is the same. While these depend on your location, there are plenty of online positions too, so it’s worth investigating to see what’s available.
Ask
Finally, it’s important to not be afraid to ask for help. There are plenty of assistive services around to help families in financial troubles, and if you have a supportive family they may very well be able to help too. It’s all a case of being able to ask for help when you need it. After all, there is no shame in admitting that you’re struggling financially.
Whether it’s due to a medical emergency or a sudden outgoing cost for a home repair, financial emergencies happen and it’s okay to admit that you need help. From prioritising payments, to taking up a flexible part-time job for some extra cash, there is plenty you can do to relieve your struggles. Good luck!