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Personal Finance

How to Get Emergency Money When You Need It Right Now

by Guest Post
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Are you trying to figure out how to get emergency money? Read this article to learn more about getting cash right away when you need it.

When it comes to making ends meet, it seems like it’s always one thing after another. Maybe your savings account suffered a hit last month when the transmission in your car went. Now your refrigerator died and you haven’t replenished your rainy day fund yet. Now you are scraping the bottom of the barrel. How are you going to pay for this?

Continue reading to learn how to get emergency money when you need it.

How to Get Emergency Money

There are plenty of options when you are feeling strapped for cash and have bills to pay. Check out the list below to see which one is the best fit for you.

Borrow From Friends or Family

One of the quickest ways to get fast money is to borrow it from people that you know personally and you can trust that they won’t charge outrageous interest fees.

It’s understandable that not everyone has rich relatives that they can borrow money from. Perhaps you live a hermit lifestyle that prevents you from having anyone closer than an acquaintance to borrow money from.

Don’t fret because this isn’t your only option. 

Get a Cash Advance on Your Credit Card

You can get a cash advance on your credit card. This works like a loan, of sorts, because you have to pay it back or it reflects badly on your credit. You could even lose your credit card. 

Be wary of higher interest loans when it comes to considering this option. 

Personal Loan

If you’re not in debt and you have a decent credit score, you can always take out a personal loan.

Personal loans are given as a one-time payment for a determined amount of money. A personal loan is then paid back on a payment schedule with high-interest fees tacked onto it.

Personal loans may or may not have make you put something up as collateral. If you fail to pay back the borrowed money, the lender will seize the item.

Take Out a Line of Credit on Your Home

In a pinch, you can use your home as collateral and take out a line of credit.

With a line of credit, you can take out the money as you need it. It won’t come out in a lump sum as it would with a personal loan.

This way you only have to pay back what you need and you won’t chance spending money that you may have leftover on something that you don’t need.

Feeling Like You Are Out of Options?

Look no further.

While there are some obvious ways that you can get some immediate cash, they might not be feasible for you. And that’s okay!

There are other options that might work better for you. Payday loans are quick loans that you pay back over time. You can get these loans even if you have bad credit!

Questions About Personal Finance

Now that you know how to get emergency money, you’ll be prepared the next time you’re strapped for cash.  Check out the related posts below to find the answers to your personal finance questions.

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Personal Finance

Best Tips to Save Money in 2020

by Evan

2020 has been a year like no other. The COVID-19 pandemic has pummeled the economy and put a financial strain on many families across the globe. Now more than ever, people are finding it difficult to get ahead. Even with the considerable disruption that the virus has caused, it is still possible to save a lot of money. With a little creativity and some diligence, you can create a substantial nest egg.

Set a Goal

You can’t expect to save any money without setting a target. Just like any other goal that you set, saving money needs to be approached with consistency, motivation, and accountability. Whether you want to save $100 or $10,000, a benchmark can help you see it through to the end.

Automate Your Savings

Schedule recurring paying biweekly or monthly from your checking into a high yield savings account. This tactic reduces your temptation to spend your money before you can save it. Adjust your lifestyle to live without the extra capital that you are setting aside. Automate your employer contributions as well, so it’s out of sight, out of mind.

Find Online Deals

With a little digging, you can find some fantastic deals from the comfort of your computer. There are many great online deals websites out there ready to be found. With a bit of research, you’ll be saving money in no time. You might have more time to browse around on Sunday afternoon, but you could potentially land a lot better price on Wednesday. Search for any coupons or promotions to save even more money. Pay attention to all of the trends, and watch your savings skyrocket.

Save Your “Extra” Money

A lovely birthday gift, tax refund, or pay raise are some extra funds that are tempting to spend right away. Every little bit of cash will add up over time, and you’ll find yourself in a great position.

Save Together

Saving money alone can be challenging, so why not involve your family or friends. A husband and wife or best friend combo can accelerate your savings to uncharted territory. Set up the terms, and keep track of each other’s contributions to prevent any arguments when it’s time to collect.

Limit Credit Card Usage

A debt of any kind will hamper your saving goals. Imagine investing your credit card payments towards your savings each month. Once you’ve paid off your credit card debt, begin using your cards responsibly in order to improve credit. Use them to get gas or buy groceries with the intent of paying off the bill in full at the end of every month. Doing so demonstrates proper credit usage while avoiding the debt trap associated with using credit cards on a regular basis.

Quit the Daily Coffee Run

Small charges can add up quickly if you’re not careful. Coffee, fast food, and mindless spending will prevent you from reaching your financial goals. Invest your daily five-dollar coffee run into a stock or savings account, and you’ll be surprised how much you accumulate in a month.

It’s easy to save some money as long as you put in the effort. While you don’t need to save every penny you make, it’s a good idea to create a savings plan that is consistent and realistic. Slow and steady wins the race!

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Personal Finance

Splurge Without Breaking Your Budget

by Evan

Life is all about choices, decisions, and balance. Because you work hard, you should be able to treat yourself to some of life’s indulgences along the way. Don’t deny yourself the added little extras that make your life that much sweeter just because you are on a budget. There are plenty of budget-friendly ways to allow you to indulge and strike a balance between work and play (or whatever your vice or indulgence might be).

After an especially trying day, it’s not uncommon to feel like you need to treat yourself to some retail therapy. That’s not to say you should buy everything you want. Instead, stay true to your financial situation and stay in control. Learn how to make allowances to get the things you want, without suffering any type of monetary setbacks. For example, that package locker for home deliveries, for example, might seem like an extravagance, but if it saves you the hassle and cost of having to re-order packages that have been taken from your porch, isn’t that worth the expense?

Self Care

Everybody defines treating themselves with ordinary expenditures differently. Basically, anything outside your realm of normalcy that brings you some level of enjoyment or stress relief should be considered a treat. When budgeting for special allowances, don’t limit yourself to tangible items. If you already have a closet overflowing with shoes, because shoe shopping is what you do when you feel stressed out, why not seek another form of stress relief? Book yourself a trip to the spa and enjoy a nice massage or round of acupuncture that relaxes both your mind and your body. Budget for a healthy treat with benefits to your physical as well as mental health.

If you are feeling fed up and frustrated with certain aspects of your work or personal life, why not find a gym? Release some endorphins and expel your frustrations though doing laps in the pool or participating in an exercise class.

Free Treats

What can be more budget-friendly than something that doesn’t cost you a penny? For some people, their budgets aren’t fluid enough to allow for escapes as often as they would need or like. That doesn’t mean they don’t need a break or a treat, it just means they need to find alternate ways to unwind and spoil themselves. Sometimes the simplest of treats can be the most relaxing. 

When you need to escape the weight of reality that is consuming you, there are several free options available. Here are a few examples:

  • Lose yourself within a good book. 
  • Find a quiet, cozy place to curl up and nap.
  • Visit a good friend.
  • Have a peaceful soak in the tub.
  • Color in an adult coloring book.
  • Keep a journal.
  • Enjoy popcorn and a movie on the couch.

Seeking indulgent rest and relaxation doesn’t necessarily equate to time spent alone. As much as kids can drive you crazy at times, don’t discount the priceless effects of their infectious laughter. Have a look at local free events and take your family on new adventures. Grab the dog and the kids and head to the park. Rediscover your inner child and play an interactive game. Above all, laugh!

Maybe you are one of those lucky people who find cleaning a way to alleviate stress. If that’s the case, find a cluttered closet you’ve been wanting to organize for months and have at it. If you have unfinished projects around the house, complete them. There isn’t much that is more satisfying than checking things off of that never-ending mental list that can make you feel otherwise unaccomplished.

Striking a balance between work and play; necessity and indulgent; hectic and peaceful; is no easy feat. Learning to strike that balance and stay within your budget is a priceless tool in the armory of life.

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Personal Finance

How to Ensure You’ll Always Have Money

by Evan

You can’t buy happiness. However, money can pretty much get you everything else. If you’re like most Americans, though, then you’ve likely got your fair share of debt. (Collectively, the country is $14 trillion in the hole.) So for better or worse, it’s fair to say that most people need to have a steady stream of income at all times. Fortunately, there are ways to ensure that you’ll never be short of the cash you need to get by/achieve your goals and aspirations. These five tips will help you do just that:

Diversify

Relying on a single income source is risky in the modern business climate. Even if you feel very secure in your job, it’s important for you to be at the very least capable of making money elsewhere through investments, side hustles, or freelance work. Otherwise losing your job could spell financial ruin.

Make Connections

In business, as in life, success is predicated just as much on who you know, as what you know. As such, always make it a point to develop professional connections within your company and industry as a whole. Note, networking and communicating with others isn’t always easy. Consider taking a few soft skills training courses if you’d like to improve your chances of landing and keeping good jobs.

Set Goals for Yourself

You’re unlikely to reach your financial targets if you don’t set regular goals and objectives for yourself. They should be ambitious enough that you can work toward them, but not so outrageous that they prove unattainable. 

Budget Effectively

Of course, saving money plays a big role in a person’s ability to make money down the line. Indeed, if you don’t have extra capital available in reserve, you might not be able to take advantage of an exciting, but fleeting, opportunity. Remember, people of all income levels need to understand how to budget to ensure they can withstand hard financial times. Just because you’re doing well now, it doesn’t mean you’ll never experience trouble again.

Never Stop Learning

The most successful and happiest people never get bored or become complacent. Rather, they’re always looking to learn new things, pick up new skills, meet new people, and explore new places. By doing this, you’ll all but guarantee that you’ll find ways to make money regardless of your situation or needs. Look at each day as a chance to improve your life and the lives of those around you, and you’ll never struggle to find gainful employment for very long. Embrace change –– don’t fear it!

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Personal Finance

How to make sure your money is secure online

by Evan

We always want to make sure that we are safe. Whether we are out at a park, a nightclub or at a theme park. We expect there to be proper procedures in place to protect our safety. We do not expect there to be negligent security or any other threats to our safety. This is also true of our online activity. We expect our information and our money to be kept safe by sites in which we entrust it to.

Online hacking is on the rise and it is becoming more important than ever to keep safe online. Especially when so much information and our money can be vulnerable. With that in mind, here are some tips to ensure that your money is safe. 

Avoid suspicious websites

If a website is poorly designed or has lots of pop-ups, then consider that it might not be safe. Some websites will try and take your information to take money from you. Look at clues, including the URL. If you are unsure do a quick google search of the name of the website, you should be able to find out if it is trustworthy. 

Be wary of emails from people you don’t know

Another common trick is hacking your information through emails. If you receive a suspicious-looking email do not click on the link or download an attachment. You can find out how to spot an untrustworthy email here. 

Use strong passwords

Use strong passwords and make them different across different platforms. If someone hacks into one account and learns your password, they may then try and use this on different platforms. At the very least make sure the password to your PayPal or banking app is unique. 

Never disclose your social security number

Legitimate businesses will rarely ask for your social security number, so this could be a sign of someone trying to take your information. 

If you are contacted by your bank and they ask for your social security or you have any other concerns, then contact them separately. If you are asked over the phone for example, then hang up and call your bank directly.

Use credit cards

Credit cards often have protection against fraud and you are more likely to get your money back if something does happen. 

Beware of public Wi-Fi

When using public Wi-Fi don’t log in to your banking, PayPal or pay for anything online. Public Wi-Fi is notoriously easy to hack, and people use it to get people’s information. So, when using a Wi-Fi that is not password protected be aware of your activity. 

Keep track of your statements

Perhaps most importantly, keep track of your banking statements. If you see anything unfamiliar to you then notify your bank straight away. The quicker they learn of any suspicious behaviour the more likely it is that they can stop it and the more likely it is that you will get any money back which you have lost. 

Some fraudsters may take out small amounts of money frequently over a long period of time, to stop you from noticing. Download the banking app to your phone so you can track payments.

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