Money makes the world go round, and it is a necessary part of many daily transactions. This is why you can end up having to pay a large amount of it to deal with an emergency. This can range from fixing a broken pipe to immediate treatment for a medical emergency. Getting money fast is a problem, so here are a few tips that should help with that:
Credit Cards
One of the quickest ways to get money is getting a credit card. Most people have credit cards nowadays, but they usually reserve them for shopping purposes. However, credit cards often have high credit limits nowadays, and many establishments, even hospitals, accept credit cards.
If you need cash, that is not a problem. Most credit cards have a cash advance feature. This allows you to withdraw money from an ATM against your credit limit. The main drawback is that the cash advance usually has a high interest rate. You will want to pay off the loan as quickly as possible to avoid piling on the interest.
Bail Bondsman
If your friend is in jail, you’re in a bit of luck. To pay for bail, you don’t need to pay in cash. All you need is a bail bond. These bonds will pay for the bail with a small fee. The trouble is that you will be on the hook for full payment of the bail costs if your friend or loved one does not attend the trial. If you can assure trial attendance, then you should look for a bail guarantor in Park City and other nearby areas.
Pawnshops
You’ve seen pawnshops all over the place. What they technically offer is a loan secured by one of your possessions as collateral. The great thing about pawnshops is that they won’t ask questions and usually hand over the money quickly. The problem is that the money you can raise is often limited by how valuable an item is. This can mean a low amount of cash.
Quick Loans
Some moneylenders offer quick cash loans, often payday loans and the like. The process with them is similar to the one you go through with a bank. However, they will still need to do some processing so that they won’t give the money directly. They are also notorious for having high interest rates and predatory practices.
Dip into Your Investments
If you’ve got money saved into a 401(K) or have cash invested into stocks, you can withdraw money from them to pay for an emergency. Note that you will most likely need to pay a fee for this. Additionally, you should return as much of your investment as soon as possible. This ensures that you still have money when retirement comes.
You wouldn’t need a large amount of cash in a hurry without it being an emergency. Whether it is to bail someone out of jail or to pay for medical treatment, the tips above should point you in the right direction when it comes to seeking funds. With their help, you should be able to pay what is necessary.
