Emergencies can happen to everyone, and in some cases, your emergency cash to pay for family emergencies may not be enough. When facing something that impacts your family members as well as yourself, finding funds may be even more urgent.
If you are looking for emergency cash to pay for family emergencies, the good news is that you may have a few options. Below are some ways to make ends meet when looking to get relief from a financial emergency.
Getting a Loan for Emergency Cash to Pay for Family Emergencies
For some, a loan can be a good option for emergency cash. With any loan, pay attention to the repayment terms and the interest rates.
Here are a few examples of loans that work well for emergencies:
- Funds from a Credit Card the average American has about six credit cards. If you one of those people and have available credit, then you may want to consider using a credit card for financial relief. In many cases, you can get cash advances from credit card companies.
- Personal Loans personal loans can be used for all kinds of emergencies that can be short term or longer. Repayment terms, interest rates, and loan amounts will all vary from one lender to another, as well as your personal finances.
- Title Loans Title loans are one type of lending that uses a vehicle as collateral. Instead of focusing on a person’s credit history or credit score, lenders look at the value of the borrower’s vehicle, their income, and their ability to repay the loan.
- Payday Loans payday loans work by securing the funds with the borrower’s paycheck. Like title loans, your credit score or credit history will not have an impact on eligibility requirements.
- Small Business Loans many small businesses are family owned, and if your family is facing an emergency with theirs, there are loans made for that type of relief. Small business loans can be used for all kinds of business expenses, everything from getting started to making it through a financial emergency.
Before choosing a loan and lender to work with, it will be helpful to research both. A loan referral service can do that work for you and could be a good place to begin if you are on the search for a reputable lender without having to do a ton of research yourself.
Finding Additional Sources of Income to Pay for Family Emergencies
If you are thinking about doing something by yourself to get the cash you need, there are few options you may want to consider:
Get a Part-Time Job or Side Job
One option to consider is to look for a side job to make some extra income. Things like freelance/contractor work, rideshare driving, food delivery, dog walking, or another kind of part-time job could mean earning that extra income to take care of any unexpected expenses you and your family are facing.
Sell Some Stuff
When facing an emergency, many people may find relief by selling their personal belongings that they are willing to part with. This may sound too simple to be an option, but chances are like most people, you probably have something of value that you could part with to make ends meet.
Monetize a Skill or Hobby
Many people have some kind of hobby, skill, or set knowledge that may be of value. Things like tutoring, creating custom work, fixing things can all be a resource to make some extra cash.
Seeking Out Local, State, and Federal Resources for Assistance
There are all kinds of resources that are offered by local, state, and federal agencies. Here are a few options based on the type of emergency you may be facing.
Financial Hardship due to Job Loss
If you are the primary breadwinner for your family and are facing hardship due to a job loss, then the first thing to do is to file for unemployment benefits.
Your state government will be able to get your application in a timely manner and will let you know about eligibility. Unemployment benefits can be used for layoffs and contract work in some scenarios as well.
Along with financial assistance, these state agencies have connections to employers and can help you speed up the job search process. All while making sure you have enough money to make ends meet while you search for a new job.
Paying Medical Bills/ Medical Emergencies/ Medical Expenses / HealthCare
Medical emergencies can have a huge blow on your financial security, especially if you don’t have health insurance. Thankfully there are many resources out there. Here are a few to look into:
- Low cost health insurance (Medicaid, Chip)
- Community clinics
- Local social service agencies
- Temporary assistance for needy families (TANF)
- Assistance with prescription drug costs
In addition to this, fundraising is another way to help with the costs of unexpected medical bills, if you are comfortable with that idea.
Unable to Pay for Everyday Living Expenses/Monthly Bills/Child Care/Home Repairs
Here are a few gov, assistance programs for those families who are struggling to pay for their everyday living costs, are in bad financial situation, and/or need emergency money:
- Supplemental Nutrition Assistance Program (SNAP)
- Special Supplemental Food Program for Women, Infants, and Children (WIC)
- Child Nutrition Program
- Supplemental Security Income (SSI)
- Housing Assistance
Facing Unexpected Car Repair
In addition to your living expenses, or medical emergencies, there are assistance programs related to your car. Here are a few options to look into:
- Local and state assistance programs
- Job Access and Reverse Commute (JARC)
Financial Hardship due to COVID 19 /Coronavirus
Coronavirus is impacting everyone not only across the United States but globally. The government has issued relief for individuals, families, and businesses. Find out about eligibility requirements online.
Natural Disaster Relief
When a natural disaster happens, the Federal Government is led by FEMA to take on the areas impacted. They will work with the community to rebuild on more than just a physical basis.
Their recovery programs address issues like community planning, housing, economics, infrastructure systems, health, and natural and cultural resources.
In addition to FEMA, when a natural disaster does strike, nonprofits like the Red Cross, or fundraisers from corporations/communities can also provide relief for communities and individual families.
Once You Solve Your Family Emergency, Start Saving!
Once you and your family get through a financial hurdle, the best thing that you can do is create a safety net. It’s always a good idea to have other financial goals in mind (like saving for a house, vacations, etc.). However, a savings account should be a priority before any of those goals.
It can be as simple as keeping a stash of money aside each paycheck, or you can get more involved with it, by using money market accounts, investing in high yield savings accounts, or even look into IRAs or 401ks to protect your financial future.
Having a safety net can protect you and your loved ones from emergency expenses. Not to mention give you peace of mind in the future. So it is extremely important to begin as soon as possible!
Apply for Emergency Cash Right Away!
If you need emergency cash to pay for family emergencies, don’t panic options are available, depending on your emergency. You can look into additional income, online loans, in-person loans, or even government assistance.
If you do consider a loan, start with Max Cash Title Loans, the #1 nationwide title loan marketplace. Our team works hard seven days a week, to help people get the funds they need. 2 5
To get things started, head to our website and apply for an online title loan. To speak to a person directly, give us a call at 1 855 561 5626.