The vast majority of people tend to live their lives paycheck to paycheck, with practically zero breathing room to cover an emergency, should it ever arise. But as we’re about to reveal, there is no reason to ever put yourself in such a position, at least if your income is considered something close to average in your country.
Preventative measures – An emergency stack of cash
This doesn’t apply if you’ve already found yourself knee-deep in a situation that requires drastic measures. But if you have at least a month’s worth of time to spare, here’s what you can do. First off, get rid of any money leaks. Do you often gravitate towards buying stuff you don’t need or items with purely aesthetic value and no practicality? Stop buying them and save your money instead.
Similarly, you might be putting too much money towards comfort. An example of this would be eating out instead of cooking your own food at home. The trick is that you don’t have to make these kinds of sacrifices until the end of time, only until you’ve managed to build up a dependable-enough pile of cash to keep you afloat in times of turmoil.
Middle ground – When you can postpone the inevitable for a little while
If you’ve managed to create some wiggle room for yourself and buy some time, the good news is that there is a whole lot you can do to gather enough financial resources to pay off whatever amount you owe.
The most obvious solution is to ask for extra work at your current job, or seek out a second one to supplement your income. Yes, you’re going to be tired. Yes, you’re going to need to sacrifice your hobbies and your free time. But when disaster strikes, you need to do whatever you can to resolve it.
You could also sell your valuables, if you have any. Expensive rugs, works of art, or maybe your car… anything you can afford to live without. Again, you probably won’t be able to make a successful sale overnight, especially if the item is not in particularly high demand. Still, it’s an option to consider.
Drastic measures – Getting a loan
If you need to cover an expense within a couple of days or less, try turning to your friends for help. If you’re lucky, they may be willing to give their money to you, no strings attached. But even if you agree to repay them later on, it’s still better than getting a commercial loan.
After exhausting all of your other options, you should consider getting a loan from KingOfKash.com or some of the other providers. That way, you won’t have to visit your bank and go through the painful and time-consuming interview processes and formalities. Instead, just fill in some simple forms, and wait for one of the sales representatives to get in touch with you.
Conclusion
These basic principles should be more than enough to make sure you never have to do something drastic you may regret later on just to settle a debt or cover a sudden expense. Who knows, if the stars align, you won’t even have to worry about such problems. But even if things don’t go your way, you can remain confident, knowing that you have all the steps laid in front of you and the mental fortitude to resolve the issue.