You’ve been hit with an emergency that requires you to have a lump sum of cash. What’s worse is that you haven’t made saving a big part of your financial planning. You’ve had other “priorities” that seemed to outweigh it, and now, here you sit in the middle of a crisis with nowhere to turn. This is the story for a lot of Americans as more than half the country has proven to be unprepared for even the smallest emergency.
Failing to Save Leaves Few Options
With nowhere to turn, they end up having to suffer through the problem, go further into debt, or abuse assets that they were investing in for their futures. In any event, they’re left with solutions that resolve the immediate matter but create larger problems down the line. Essentially, having an emergency savings fund would alleviate a lot of this stress. Having access to an account with several thousands of dollars in it would allow you to do everything from handle a home repair to cover the bills for a few months while you’re out of work.
In the Meantime
When in the midst of a financial emergency, trying to build a savings isn’t going to handle the matter at hand. So, in the meantime, there are still effective ways to get your hands on some cash fast to handle the problem. [Read more…]