What to Do When You Need Money Immediately?

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    What to Do When You Need Money Immediately?

    We have all been placed in circumstances in life where we need money immediately. Whether there is some sort of medical emergency or perhaps you are behind on your mortgages, extra money can come in handy in many dire circumstances. Below are a few options to keep in mind next time you are hit with an unexpected bill that needs to be immediately paid off.

    Ask Family for a Loan

    If you are in a bit of a financial pickle, perhaps you can turn to a family member that is willing to help. While you don’t want to have to go knock on their door and ask for money frequently as there is less of a chance of them loaning it to you, save their help for when you really need it. Make sure they know it is a loan that you intend to pay off quickly. You don’t want a few dollars to ruin a relationship with a family member.

    Payday Loans

    We have all seen commercials for payday loans. They are pretty handy when you are in a bind and payday is still a week away. You can get payday loans in Montreal or almost anywhere else around the globe. Just be prepared to pay a bit of interest on it when paying them back. The good news is that they are quick and can be had at a moment’s notice.

    Borrow From a Bank

    The bank will only loan you money if you have collateral to back up the loan. They have to be able to ensure that if you don’t pay it back, they will simply take something of yours instead. Bank loans can be difficult to get and the process can sometimes stretch out for months. If you need the money right away, they may not be of much assistance. You will have filled out all that paperwork for nothing.

    A Friend in Need

    Sometimes friends are more willing to help than family members with small loans here and there. Maybe they are better off financially or just have a softer heart, but whatever the case, don’t take advantage of their kindness. Don’t borrow money and then act in no hurry to pay it off. They are doing you a solid favor and you have to take it seriously if you want them to remain your friend.

    Written by Jenson Phillips

    Hi, I'm Jenson. Father of two and living with OCD, read my musings on coping with both and maybe pick up some advice for yourself.