If you’re reading this than chances are you’ve been hit on the head with an unexpected financial crisis and need money for the emergency. The first reaction the majority of people have to a financial crisis is panic. Whether you just lost your job, are about to go through foreclosure, car repair - whatever it is - everything is going to be OK. If you are going to deal with this situation the first thing you need to do is get rid of stress, panic, and worry. Stress and panic effect the brain in a profound way. If you can’t think clearly than you can’t make the rational decisions that will help you get out of this mess.
Once you have a clear mind sit down and look at the big picture. What caused this financial disaster in the first place? What options do I have available to me? Do I have family or friends that can loan me money for the emergency? Evaluate the financial situation and go over your options. Try to keep worry at a minimum. By looking down at the big picture you will gain better insight that will enable you to make better choices. The key here is to find the root of the problem and to attack. You need to create a battle plan. You may want to look into finding a not for profit financial counselor. I can’t recommend one here, but do your research and find one that is reputable.
Something you will want to do is go over your expenses and come up with a budget. Prioritize your expenses and cut the expenses you can live with out. There are certain things that take a higher priority. The necessities you must place the highest priority on are food, housing (assuming you’re not facing foreclosure), transportation, utilities, etc. Things like cable t.v., the internet, cell phones are all optional. They may seem like a high priority, but if you are either facing bankruptcy or foreclosure its a small price to pay to save yourself. The goal here is to cut every expense you can.
While you’re going over your expenses it would also be wise to go over your possessions and assets. Is there anything you can either sell or downgrade to for emergency money? If you drive a new car consider selling it and buying a nice little second-hand one. If you own any additional property than sell it! If you can save yourself and get through this financial crisis without selling property or downgrading than by all means do it. BUT IF YOU CANT” - you need to consider it.
So sit down, stop worrying, go over expenses & assets. Cut & sell everything you don’t need - its worth it if it gets you through this financial crisis. Alternatively you can try to find a loan at a decent rate, or go to a place that specializes in giving money for emergency - but these kinds of things are what got you in trouble in the first place possibly? Only you can answer that.