How To Manage A Financial Emergency

You finally got things down to a predictable routine: you’re going to work, earning a decent paycheck, and paying all your bills on time when life suddenly springs an unpleasant surprise on you.

Life can be as full of unexpected twists and turns, rather like a plot in a novel or a movie. Many of these surprises can be troubling when they involve some type of loss, and often these unexpected setbacks come with a financial price tag: Your car might break down, your pet might need to be taken to the vet, or your water pipes might spring a leak.

How do you manage to afford these unexpected expenses? One quick solution is to take out a personal loan. However, rather than take out a payday loan, it’s better to look for a payday loan alternative. Vendors that provide a fast payday loan alternative offer both personal cash loans and installment loans. The fast-funding can be as high $1250. Eligibility requirements are minimal and repayment is flexible. All you need is a social security number, an active checking account, and a verifiable source of income.

Repaying Your Personal Loan

Once you’ve received your personal loan, you can immediately use it to solve your problem. You will then need to start making regular payments to repay your loan. While some of the money you pay back will go toward paying off the principal that you borrowed on, you will also have to repay interest on it.

Assuming that your wages already cover most of your expenses, it can be challenging trying to figure out how to repay the personal loan back fast.

Here are two strategies to do it:

  1. Look for ways to save. Review all your current expenses and then see what you can do to slash your cost of living. You may have to give up a few luxuries. Identify any unnecessary expenses and put that money toward paying off your personal loan.
  2. Be open to figuring out how to earn extra money. If you find that you can’t put much money aside even after sacrificing some small luxuries, then you should look for ways to earn extra money. So while your wages will go toward paying for your cost of living, the extra money you earn can go toward paying off your loan.

5 Ways to Earn Extra Money

Here are some ideas on how to earn extra money:

Blog about your experience.

Many people are struggling with money right now and by sharing your experience with them, you could earn money. You have all the elements of a good story. There was a crisis, you resolved it, and now you’re sharing what you did to put it behind you.

If you managed to write essays for your high school class, you can probably write a decent blog post. If your writing skills are a little shaky, you can always buy a book on how to write better.

Use Google to research blogs that focus on personal finance where readers are always looking for new ways to manage their money. In your pitch email to the editor, tell them about how you managed to take out a personal loan to resolve your emergency and then pay for it by slashing your expenses.

Sell your stuff.

Go around your house and see what you could sell on eBay. There are bound to be things that you no longer want or need that can be resold on an auction site.

Sign up for a seller’s account on eBay, learn how it all works, then take pictures of the stuff you want to sell and write a good description. You might be surprised how much you can make.

Take a part-time job.

There are many businesses that require someone for only a few hours work and there are others that offer flex hours. For instance, you could work at a corner bakery on your Saturday mornings. The best way to find these jobs is to go through the classified section of your local newspaper, visit online job sites, and just walk around the stores in your neighborhood to see if you notice any Help Wanted signs.

Become a tutor.

You may have a few skills that people would be willing to pay you for. If, for instance, you’re good at math, you could tutor grade school kids struggling with math – or, perhaps, you know how to play the guitar or piano, which is something that many people would love to learn how to do. Put a small ad in your local newspaper and some flyers at coffee shops, laundry mats, and local stores about your tutoring services.

Sign up as an Uber Driver

If you enjoy figuring out the best routes across your city, then you could make money as an Uber contractor. You get to keep 80% of what you earn as a driver while Uber will keep the remaining 20%. You’re free to set your own schedule.

You Do Have Options

It’s scary when you have an urgent bill to pay and you don’t have the money. However, by getting a personal loan and then figuring out how to get extra money to pay off that loan fast, you can quickly resolve any pressing financial emergency that you’re facing right now. You can be much more confident about taking charge of your finances than you realize.

Speak Your Mind



  1. Regina Davis says:

    Thanks for the tips! Our vehicle has been broke down for 3 weeks now.

  2. It is good to think of ideas ahead so that if something does occur one can be prepared. Great suggestions.

  3. Good information! We always try to keep a little money available in case there is an emergency. Unfortunately, we’ve had a couple of them lately!

  4. vickie couturier says:

    i have always put something back from my check when working for that emergency that always pops up,,usually 25 dollars each check goes to a savings account,,it goes first before eating out or any other thing i can live without