Stuck in a financial emergency? Most of us have been there at one time or another. When it comes to dealing with such an emergency, it’s easy to become a little overwhelmed. At Cash Kitty, we understand the feeling that comes down to feeling as though someone just dumped a million different demands in your lap. And it probably feels like all of those things need to be dealt with as quickly as possible.
If that scenario sounds familiar, it’s easy to feel desperate.
However, at the end of the day, here’s the first thing you really need to do.
Okay, we’ll elaborate a little.
Exploring Your Options In A Financial Emergency
In the event of a financial emergency, such as a medical emergency, car trouble, or the unexpected appearance of a bill you need to pay, what are your options? It’s important to take the coolest possible approach to this question. You want to be calm. What can you do? There are obviously a few different options to deal with something like a financial emergency:
- Friends: If we’re talking about twenty quid, then no, you probably don’t need to come to Cash Kitty for a loan. Obviously, this is the kind of amount you can borrow from a close friend, but what happens when the amount is considerably more? You may have a friend who is willing to loan several hundred, if not more, but it’s not a position most want to find themselves in. And if anything should happen that prevents you from paying the loan back according to the terms, you could lose the friendship.
- Family: This is a similar option to friends. It may strike some as a safer bet than friends. But again, it can put someone in a very awkward position, particularly if they have to say no. And again, if something should prevent you from repaying the loan on time, you could cause damage to the relationship.
- Local payday lenders: There are lenders in your area, but these companies tend to come with a lot of problems. You could wind up with terms you can’t possibly begin to understand, let alone meet. Still, you need the money, so you sign on. Then what? These companies are going to get their money one way or another, and it generally isn’t pretty.
- Work: Some businesses allow employees to get advances on their paycheque. However, as you can no doubt imagine, this is not an option available to most.
Then you have short-term loans through Cash Kitty, which can prove to be your best bet.
Why Short Term Loans Work
The benefits of short-term loans are numerous. The APR might strike you as a little high, but it’s still the option for a loan that doesn’t worry about credit. A short-term loan is straightforward in its terms. You can be approved for the loan in just a few minutes. Furthermore, you can make sure you will have the resources needed to repay the loan when the time comes.