It can be useful to be prepared in case you need money in an emergency. For some people this means that they will have some savings put aside in order to use if they need to buy something quickly, have an unexpected bill or expense. However, if you suddenly need money and do not have provision like this, then you will need to look around for other options.

You may be fortunate enough to have an arranged overdraft facility with your bank. You may find that this will be enough to keep you going for a while. These can be expensive though, especially if you borrow more than you have agreed with your bank. A credit card can be another alternative, if you have one already with some credit left on it. These can be even more expensive than an overdraft though if you only pay back the minimum balance and leave the debt outstanding for a significant time. Both of these options take time to organise and so unless you already have them organised you will find that they may take too long to sort out and you need the money sooner.


If you cannot use credit then you might consider borrowing from friends and family. Of course, you may not have anyone that you could ask, but if you do, then this could work for you. They may let you have the money with no interest rate or charges to pay, which could mean that it will be a much cheaper option. However, it is something that you should think through hard before asking. If you do not mange to pay them back or they suddenly need money themselves then it could cause problems between you. There could be feeling of guilt form you or they may get annoyed with you for taking the money. There may even be jealousy from other family members. Families and friends have been known to easily fall out over money so make sure that you know this will not happen before you ask.

A cash advance is an immediate option which might be better for you. This will enable you to get the money really quickly. It can take just a few hours form when you apply to getting the money. No credit check is done which means that the process is speeded up and you will not be turned down due to a poor credit rating. It can be a really good solution for many people. Short term loans do get a lot of bad press and there is no denying that they can be really expensive. However, if you pay them back on time, they will not be too difficult to manage. Make sure that you find out how much the repayments will be, check that you will be able to afford it and make sure that you do pay it. That way there will be no nasty fees or interest rate hikes and you should find that it will be a useful way to get emergency money.

By Jasmina