Unexpected Expenses: Do You Know Where to Go When You Need Emergency Cash?

It happens to us all at some point – when we get on top of our expenses only to be broadsided by a sudden bill that sends us way over budget. Whether it’s a special family celebration that costs more than anticipated or a vehicle that has broken down out of the blue, it’s not uncommon to get nasty financial surprises. Let’s face it, without the benefit of a crystal ball it’s just not possible to predict what is going to happen in the future but it doesn’t mean you can’t prepare your finances to be able to cope better when an unexpected expense arises.

Taking a closer look at your household budget and evaluating your income and outgoings is the first step you can take to prepare yourself for financial shocks. However, if you find yourself in a situation where you need emergency cash to bail you out, there are plenty of options available to you.

Online or Yard Sales

One thing you can personally do to quickly raise cash to pay an unexpected expense is to hold a garage sale. We all have things around our homes that are no longer useful and often we have items stashed away in storage that may have a perfectly good use for someone else. As the saying goes, someone’s trash is another’s treasure and you could very well be surprised at how much money you can raise when you put your unwanted things on sale to your neighborhood. There’s also the added bonus of getting rid of loads of clutter in your home but more importantly, it could be all you need to get you back on track with your finances.

Talking to the Bank

Depending on how much you need to raise and for how long you’ll need it, your bank may be able to offer you overdraft protection so that you can temporarily borrow the funds you need. This gives an over-stretched bank account additional wriggle room to allow you to continue purchasing groceries and paying your bills without incurring heavy penalty charges. The downside of an overdraft facility is that it is often an expensive way of borrowing and if you don’t get your account back in balance within a realistic timeframe, you could lose your account completely.

Take out a Car Title Loan

Many people don’t think of a car as an asset. But on the contrary, you can use your car to get you out of a financial pinch.

Aside from your home, your car is probably the second biggest asset that you own. If you need to raise money in a hurry you can use your car as security for a car title loan. These loans allow you to continue using your car while you make the agreed repayments and when you have paid the balance owed in full, the title of your car is returned to you. The risk element attached to this kind of lending is naturally that you relinquish your vehicle if you fail to make the necessary payments but for many people, this is an ideal way to raise emergency funds. If this is something you like the sound of, you can easily find a car title loan online offering the right terms to suit your means.


It is essential to build a buffer/cushion of funds to weather the financial storms in your life. The ideas here are just a few, but there are more if you choose to explore! In all situations, remember that you should always consider cheap forms of financing first – e.g. asking from friends and family, before moving on to methods such as personal loans etc.

Never Miss a Post! Subscribe Today!

Get new posts in your inbox!

Be the first to comment

Leave a Reply

Your email address will not be published.