Living in today’s reality is surely tough, and an unexpected financial crisis acts as the topping on the cake in that. Not everyone has a sturdy financial backup to support their emergencies and unpredicted expenses. In such a situation people start to panic and take a lot of stress as they don’t know what to do. But worry not there are many ways to tackle these financial crises.
You may be wondering what it can be apart from borrowing? Well Yes! We are talking about loans and many other things that one can do to get immediate cash in recent times. Let’s discuss them all, one by one.
Instant Personal Loan
The all-new Instant Personal Loan is the same as its name. The loan is an updated form of personal loan and can be availed online. It is instant, fast and gets approved within hours to meet your urgent requirements.
These online personal loans are widely available these days & have the potential to meet all your sudden needs. The loan amount ranges from ₹50,000 to ₹50,00,000 which you can avail depending on your needs and wants. The other plus point with these loans is – they are unsecured which means you don’t need any collateral evidence to get them.
Your Friends and Family
Surely this is the safest method and many people prefer it, as borrowing from someone you know or close to you seems to be easy. But here is one negative point in this, which is – if you borrow like this the risks when you are not able to repay the debt. In such a situation you’ll not only lose the trust of your loved ones but your relationship with them as well. Another possible cause is you might not get the amount you need.
Selling Your Gold or Silver
One of the quickest ways to get cash is by selling your gold or silver. Surely no one wants to sell their gold especially if you are a woman from India. But as life is unpredicted who knows you may face certain situations where you have no other option but to sell your precious gold or silver. But before you sell your gold or silver, always do proper research and sell it at the best price/rate available in the market to the best merchant.
Loan against Your Gold
So you are not willing to sell your gold as I mentioned above because you have received your gold from your ancestry or bought on some special occasion, then you can get a quick cash by mortgaging your gold or silver to meet your urgent requirement but always do a proper research and then mortgage your gold to the best lender at best rates so you may easily recover it later.
Your investments are your other option, you can mortgage your fixed deposits or any other investments like shares, stocks to get immediate cash to tackle your financial requirement. In my opinion, this is one of the best ways to get quick cash because not only you are meeting your urgent requirement but also making money from your investments.
An Advance Paycheck from Your Company
This is only applicable to a few people because not all companies will agree to give an advanced paycheck to their employees. In case you are an honest employee and working in the same institute for a long time, then your employer may consider and believe that you won’t abscond the company. If you have a repo like that your employer may grant you an advanced paycheck to meet your immediate requirement.
Sell Your Unwanted Things
If you’re facing some small financial crises but previously lived a lavish or good comfortable life then now is the time to get rid of all the unnecessary things. Your old furniture, gadgets or things which are of value and you don’t need them anymore, can be sold now. There are many online platforms where you can sell used products at a good price.
Sell Your Talent
If you are an artist, craftsmen or a person who is capable of creating anything of value, now is the time to sell your talent. Suppose if you are a painter, then you can sell your painting if you are a craftsman sell your crafts. It’s better to sell your art/craft rather than getting a loan that you have to pay back. Added to this you may also get noticed for your work and get famous.
Return Your Recent Purchase
In rare situations, If you have purchased something luxurious or costly recently and still have the time to return them, then return it. Returning and getting the cash is the best thing one can do to meet his/her urgent cash requirement. You can always buy those things later and it’s best that you avoid being in debt.
You can also get a payday loan. Payday loans are the short term unsecured loan which is approved based on your credit record or your employee record. These are also called cash advances, payroll loans, salary loan or short term loan. Payday loan tenure is usually less than 3 months and the amount of the loan will also be anywhere between ₹1500 to ₹1 lakh depending on the lender.
If you’re facing any unexpected financial crises and don’t know what to do, don’t worry! Many people have faced similar problems or are currently facing them and have resolved them successfully. There are many options available that can get you immediate cash to meet your financial requirements. The above mentioned are some of them.