Where to find money in an emergency

Emergencies can happen at any time anywhere and are often unpredictable. This is why they can be so hard to plan for.

We all try and save to make sure that there is money when we need it, but you just never know what could happen and when. In today’s current climate just finding spare money can be hard, as most of us are budgeting and trying to get the cheapest deals possible it can cause great stress when you have an unexpected bill to pay.

Unexpected bills are as it says- unexpected, this could include emergency vet bills, water or gas bills, even phone bills. There is no need to stress, however as there are ways to deal with this type of financial crisis and they come in the form of pay day loans. Loans tend to get a bad name and when you mention the word loan you could often be told to stay away- but if you have an emergency and either have no savings or do not want to touch your savings then there is this solution.

Payday loans

At various loan companies they have cash that is instantly ready for you and can go into your account within a matter of 24 hours. Easy to use and obtain they are ideal if you are in an emergency situation and cannot turn to anyone else for money. The point of a payday loan is it is a short term money answer to your problem and not a long term solution.

Be careful

With payday loans you do have to be careful, nearly all of the loans you borrow will have high interest rates attached to them and because of the period of time that you are borrowing money for the interest rate is extremely high. If this isn’t noticed and realised soon enough you could land yourself in greater debt. It can also increase if you do not pay the loan back on time as well.

Another thing you have to be careful of is what you are actually using the payday loan for- if you do have an emergency then by all means use a payday loan but however, payday loans are not the best type of loan for lifestyle loans, such as exotic holidays or new clothes. If you are looking for this type of loan you are better off seeking a long term lending agreement.