A cash emergency can take various forms, whether it’s an unexpected flight home, you encounter car problems, the fridge has carked it, or your pet has racked up a sizeable vet bill. It’s not always obvious what to do in a cash emergency, and if all else fails, an emergency loan can help you through a challenging situation. But there are many ways to get money together in a hurry, so we’ve put together a list to help you out.
Where to start when I need cash fast
There are quite a few options you can consider when you need to get some money together. The following list has a few ideas:
Sell second hand goods
There’s a market for much of what is lying around your house or shed – most people have things they can sell to get money fast! Perhaps there’s a bike or surfboard you’re no longer using? Hold a garage sale or sell on online marketplaces for some quick easy cash.
Work an extra day or two
Got a mower? Know how to clean? Handy around the house? There are plenty of people who need a hand with those kinds of jobs.
Start by asking around via your local community Facebook page, introduce yourself, and detail what you can do and when you can do it. Chances are you will be lined up with more work than you expected!
Ask family or friends for support
If you are fortunate enough to be in a position to be able to ask family or friends for a bit of help, it can be a great way to go. Just make sure everyone is clear about how much you’re borrowing, and if/when it will be able to be paid back.
Contact a financial counsellor
The National Debt Helpline provides free guidance on getting your finances on track, including advice on navigating an emergency. This can help you get into better financial health.
Save money fast on a low income
If you have a short amount of time to come up with the funds, or you can defer an invoice or payment due date, you may have time to save up the money – even on a low income. If the emergency funds can wait even one pay cycle you could have some money to spare.
Reduce any over-spending habits
There are plenty of trendy habits out there, but consider cutting these expenses for a while. Things you can reduce for a short term include beauty treatments like manicures/pedicures, other cosmetic and beauty procedures, and any superfluous subscriptions or nights out.
Cook at home is a great way to save money you might normally spend on takeout, and delaying any planned purchases until the big expense is past can also help you to gather a lump sum of emergency cash.
Can I apply for an emergency cash loan?
One of the fastest ways to come up with emergency cash is a same-day loan. If you have a car you can use as security and a stable and regular income, an emergency loan may allow you to borrow the funds you need and repay it over time.
An emergency cash loan can be used for unexpected vet or medical expenses, urgent home or car repairs, replacement of essential household appliances, rental bonds or emergency flights and transportation.
How can Red Tree Finance help?
At Red Tree Finance, we have loans that can get you through a tricky time, putting you back on the path to financial well-being. Take control of your finances with a loan to cover an emergency and a household budget to ensure you can pay all your bills and replenish your emergency savings. Contact us for more information.
Frequently Asked Questions:
How do I borrow money for an emergency?
Borrowing money for emergencies is possible through various institutions such as banks, credit unions, and online lenders. These financial entities offer emergency loans to help you address unexpected financial challenges. You should explore different options, compare terms, and choose a reputable lender that suits your needs.
What is the easiest loan to get right now?
How hard it can be to secure a loan depends on various factors, including the lender’s processing times, the type of loan, and the information required.
At Red Tree Finance, we understand the urgency of emergency situations, so our application process is designed to be swift. You can receive a decision just two hours after submitting your application. If approved, the funds can be in your bank account within one business day. We work hard to make sure you get the financial support you need fast during unexpected circumstances.
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The information provided in this blog is of a general nature and is provided without considering your specific objectives, financial situation, or needs. It is intended for informational purposes only and should not be relied upon as financial, investment, or other professional advice.
Before making any financial decisions or taking action based on the information presented, you are strongly encouraged to assess its appropriateness in light of your individual circumstances. Red Tree Finance does not intend to provide personalised financial advice, and you should seek independent financial, legal, tax, and other relevant advice tailored to your unique situation.