If you’re in need of emergency cash to pay for home essentials, you might not be sure where to turn. And depending on how stocked of a savings account or an emergency fund is, you may be in financial need more than most people.
If you’re struggling to make ends meet, Max Cash Title Loans may be able to help you out. By filling out an online title loan application, you could get quick cash near you by using your vehicle.5
With just a simple car loan inquiry process, you could be getting the cash you need to pay for your essentials.1
To learn more about the emergency cash options available to you, finish reading down below!
What are the Home Essentials I May Need?
Home essentials may seem like a broad term because they may vary from person to person. While every home is different, some most notable essentials are:
- Cleaning Supplies: With the Coronavirus pandemic or during flu season, it’s crucial to have cleaning supplies to sanitize things to promote home health care. Optimal cleaning supplies include sanitizing sprays and wipes, as well as hand sanitizer.
- Kitchen Essentials: Items like trash bags, freezer bags and other items can get used up quickly. These are essential for keeping your kitchen safe and clean!
- Groceries: The ability to feed yourself and your family are essentials for the month. Access to emergency cash to pay for groceries may be scarce if your financial situation is struggling.
- Laundry: Items like laundry detergent are essentials that should be on your list. If you have a lot of family members in your household, you may run through soap even faster.
- Toiletries: Items like toilet paper, deodorant and soap are home essentials that you may be struggling for if your financial situation is not ideal.
What Types of Emergency Cash Options are Available to Me?
With the pandemic hurting so many communities, there are many programs available to help alleviate the financial burdens that are arising. Some emergency cash options or assistance you may find in government programs, such as:
- Emergency Cash Assistance: Depending on the state you reside in, you may have access to these emergency cash programs known as the Diversion Program or the Additional Requirements for Urgent Needs (AREN). These programs can help cover home essential costs, including mortgage payment assistance or utility costs that may be affecting your financial situation.
While these are short-term programs that can only offer you up to $1,250, they can give you the emergency cash you need if you qualify to avoid eviction or financial hardship.
- The PAN Foundation: If medical bills with high interest rates are causing you to stumble on payments and not afford home essentials, this nonprofit may be able to help. They were created to help those struggling with medical bills and out of pocket costs for medication and surgeries.
- SNAP or Cash Assistance Benefits: The Supplemental Nutrition Assistance Program was created to provide extra funds for low income families. If you are short on groceries and home essentials, SNAP benefits may be able to help you and your family members.
- Unemployment Insurance: If you lost your job due to the coronavirus pandemic, you may be able to receive unemployment benefits through your state. Simply fill out an application online and wait to hear back. This may not get you the emergency cash you need right away, as the process can be somewhat slow.
- Community Action Agencies: Another application that could help your financial situation is through the CAA, or Community Action Agencies. These are nonprofit associations that can help low-income families find self-sufficiency and independence. If you are struggling with housing costs and transportation, these nonprofits may be able to help.
What Loan Options Do I Have to Get Emergency Cash to Pay for Home Essentials?
Since relying on government and nonprofit cash assistance can be somewhat slow or unhelpful, you may be wondering what your fast emergency loan options are.
While many types of emergency cash options exist, not all of them are created equal! Some kinds you may have available to you as a borrower are:
If you have a good standing credit history and an excellent credit score, a personal loan may be your best way to get emergency cash. Generally, personal loans do not have high interest rates in comparison to other types of loans, and they are often from either a bank or credit union.
However, since personal loans are unsecured and do not require collateral, they can be difficult to get approved for if you do not have a good credit score.
Credit Card Advances
Another emergency cash option you may have as a borrower is credit card advances. One reason why these can be ideal is that you do not have to apply for a loan if you have a credit card. However, if you fail to make full payments on this advance, your credit card bills may increase your debt.
Payday Loans or Cash Advance Loans
Payday loans will last you between paydays. Generally, loan repayment is about two weeks, making it a very short-term loan. With payday loans and cash advance loans, your funding amount will be anywhere from $50-$500.
These loans are high-interest loans, and often many fees that are included! For example, some states will make you pay a finance charge to obtain a loan.
This means for every $50-$100 you borrow, the lenders will charge a few. If you can’t repay your loan on time, expect late fees!
Why Do I Need a Savings Account or Emergency Fund?
If you are having trouble finding emergency cash to pay for home essentials, chances are you do not have an emergency fund for these types of situations.
You’re not alone, however! The average American has less than $1,000 in their savings account for emergencies. Typically, this comes down to budgeting issues, or not stocking up your emergency fund with your income.
Every month, at least 10% of your income should go into your savings account or emergency fund. Your checking account should never dip below a set amount to keep yourself safe and financially secure as well. By budgeting more in your lifestyle, an unexpected expense won’t turn into an emergency! Obtain financial security sooner with these methods.
How Can a Title Loan Help Me Get Emergency Cash to Pay for Household Essentials?
While many funding options can give you emergency cash for household essentials, not all of them are created equal. With title loans, borrowers can have access to a flexible approval process- even if their credit is less than ideal!
Since title loans are secured with collateral, those from all credit histories and financial situations may be approved. If an online title loan could help you get the emergency funding you need, why wait to see if you can qualify? Start with Max Cash Title Loans–simply fill out a title loan application online to start the process. Or, borrowers can call ahead to get the financial security they need!