3 Things To Remember Before Letting A Financial Emergency Ruin Your Day
July 29, 2020 | Emma Frost
Financial emergencies have the ability to completely ruin your mood. There is nothing worse than being in the middle of a financial emergency. Whether you’ve lost your job, are having to stay in the hospital due to an illness or major injury, your home needs repairs, or your car needs repairs, these are all considered financial emergencies that can really negatively impact you. But instead of letting these ruin your day, there are steps you can take to make your situation a lot easier to handle. There is no reason to lose your cool and get completely stressed out – especially since that won’t do anything to solve your problems. Instead, you should follow these three steps to make whatever financial situation you are going through a lot more manageable for you. Those steps are:
- Examine your budget to figure out your current spending
- Make sure your emergency fund is set up and easily accessible
- Look at your other options such as using your title for cash
Steps To Handle Your Financial Emergency
Examine Your Budget To Figure Out Your Current Spending
The first thing you should do when going through a financial crisis is to sit down and really evaluate your situation and your budget. It is important to know exactly what your emergency is costing you and then examine the state of your budget. What I mean by “examine the state of your budget” is, you have to know exactly what you are spending your money on and how much. If you know that then you can figure out what you can pull back on and where you can possibly save some more money. Once you’ve reconfigured your budget and are saving some money, you can move on to the next step; setting up your emergency fund and making sure it is easily accessible.
Make Sure Your Emergency Fund Is Set Up And Easily Accessible
The next thing you need to do is make sure your emergency fund is set up and easily accessible. If you don’t have an emergency fund set up – or you don’t have a lot of money in your emergency fund – it is important you really go through your budget and see where you can cut back on your spending and start saving. Your emergency fund can give you that relief you are looking for as you navigate through your emergency. A general rule of thumb is to have at least three to six months’ worth of money in your fund. Just think about how much you’d need to stay afloat in the event you lose your job and are unemployed for a while. Another thing you need to make sure of is, once you’ve started your emergency fund, make sure it is easily accessible to you. One option you have is to put your emergency fund in a savings account. Once you have your emergency fund set up and have access to it when you absolute need it, you can move on to the third step; looking at other options such as title cash.
Look At Your Other Options Such As Using Your Title For Cash
Once you’ve looked through your budget and secured your emergency fund, you still have one more option available to you; look at things like cashing in your title. What I mean by this is title loans – or oftentimes referred to as title pawns in some states – in Louisiana. Title loans can really lend you a hand when it comes to medical emergencies or emergencies around the house – like a broken furnace or burst pipe. If you qualify, this loan will get you the cash you need quickly so you can take swift action on helping ease your financial struggles. If you are considering this as a viable option – as you should if you really need the extra help – then there is a lot you need to know about vehicle title loans.
How Does An Auto Title Loan Work?
Before anything else, a title loan is a loan you receive when you put up your vehicle’s title as collateral. You don’t have to worry about not being able to keep your vehicle while paying us back; you can keep your car and keep driving it whenever you want – just as long as you are able to meet your repayment schedule. And if you don’t have a car in your name, you don’t have to worry about it. While this loan is sometimes referred to as “car title loans,” that doesn’t mean you can only get it with a car. If you own a truck, SUV, or even a motorcycle, you can still use your title as collateral; as long as whatever vehicle you use is in your name and is free of any prior loans or judgements, it should be good to use.
If you are in Louisiana, then you can rest assured knowing our process is simple and quick. It all starts by you filling out our online form with your basic information. Once you submit, you will receive a phone call from one of our knowledgeable loan reps where you can ask all your questions and the loan rep will let you know what the next steps are. Once you are done with your phone call, you can make your way to one of our many title loan stores with the three required items. To find those locations, just do a search for “title places near me” and you will see all of our stores around Louisiana. One more thing to keep in mind is we welcome any credit. Whether you have good credit or it’s taken a hit due to your emergency, you can still apply for an online title loan here in Cash Cow Louisiana. So instead of letting your emergencies take you down, take these three steps instead.