Unfortunately, life is full of uncomfortable — and often expensive — emergencies. Sure, planning for a rainy day is possible. But what about when the emergency hits and your savings account is depleted? Sometimes, you just need cash fast. If you’ve gone through or are going through any of the financial emergencies below, consider getting a fast cash loan through Your Loan Depot in Texas. We’re here to help you get back on your feet.
Whether you have health insurance or not, medical emergencies are still expensive and can put a damper on both your savings and checking accounts. Additionally, there are some medical emergencies, like the family dog needing surgery, that are so far off our radar that we really don’t plan for them.
- You or your loved one. Planning for a medical emergency doesn’t mean it’ll happen. It simply means you’ll have the money to deal with it if it does happen. Of course, you never know what the medical emergency will be, when it’ll happen, or how much it’ll cost. If you’ve been saving and something happens and you don’t have enough, a payday loan or title loan can help supplement the difference.
- Your teeth. You take care of your teeth and go to the dentist for annual checkups, but what about when you need an expensive root canal or accidentally chip your tooth? This is an often-overlooked scenario that could be costly.
- Your pet. Our pets are our family, right? But if a pet is injured or needs a surgery and your finances are tight, it can be an uncomfortable situation.
Changes In Jobs
If you or your spouse changes or loses a job, you’ll be dealing with a lot of emotions. If you’re getting your dream job across the country, you’re likely excited. If you lost your job or got laid off, you’re most likely feeling dejected. With both of these situations, however, there’s reason to be anxious about your finances.
- You lost your job. Whether you had notice or were completely surprised with the change, this is a huge strain on finances. If you don’t have a job lined up immediately afterward and you don’t have much in savings, a payday loan or title loan can make all the difference.
- Your spouse lost his or her job. When you and your partner decided to be together, you decided to help each other through the thick and the thin. If you’ve been living with two incomes and one is suddenly lost, the effects could be devastating. Hopefully, you were saving all or some of the second income in case of an emergency like this. If not, consider getting the cash you need through a payday or title loan company until you can start paying bills again.
- You’re getting a new job. This could result in a sudden move across the country or simply across town. Either way, it could be expensive. Your new company will likely cover some expenses, but not all. You’ll also be taking time off of work to get everything done that you need to for the move, which means less time you’re working and earning money.
Part of the responsibility that comes with owning a home or a car is being able to pay for repairs. Unfortunately, not many of us plan for either of these situations. Whether an accident that was or wasn’t your fault, a natural disaster, or a crack in your foundation caused the need for repairs, your insurance most likely won’t cover the whole bill. Many Americans go into more debt because they don’t have enough money in their savings for unforeseen, but necessary, repairs.
You don’t want to seem morbid, but you also need to be prepared for unexpected travel, which often occurs because of death. If your friend or family member is dying or you need to attend a funeral, it’ll be expensive. Flying is expensive even if you plan ahead! When you buy a plane ticket to visit your hospitalized family member, you’re likely not planning in advance. In a situation like this where you need cash fast, you could opt for a payday loan. Don’t let your finances keep you from being with your friends or family in a time of need.
Unexpected Financial Changes
Everything we’ve talked about thus far involves emergencies that will cost you money. But what about when there’s a change in something you already owe or earn? Will you have enough in savings to make up for it?
- Large tax bill. You may not know how much you’ll owe in taxes, but not saving up for tax season could be detrimental. You’ll want to make sure you have enough to cover them.
- Loan payment increases unexpectedly. Do you have a loan, such as a mortgage or a student loan, that you regularly make payments on? If your repayment plan is based on your income or on interest rates, you could see your payments increase significantly.
- A commission-based job. If you have a commission-based job, then your paychecks will vary from month to month. Perhaps you’re out of the office for a few days or you don’t make as many sales as you typically do. If this happens and your paycheck doesn’t cover your monthly bills, a fast cash loan could help.
- Frozen account or reduced credit line. If you don’t have sufficient funds in your account or if a debt collector collects on a past-due debt, your bank can freeze your account or reduce your credit line without warning.
Planning for any of these events isn’t necessarily fun. But by planning ahead and having money for a rainy day, you can save yourself a lot of stress and have financial peace. If you’re not quite there yet, don’t worry. Many people face these financial emergencies without much in their savings accounts. Get a fast cash loan through Your Loan Depot in Texas, get through the emergency, pay your loan back, and then start saving for the next time an emergency comes up.