The car broke down and need to have it checked? An emergency occurred that you need to shell out a few bucks for? Flat-out struggling each day living paycheck to paycheck?
Admit it: we’ve all been in that situation and let me tell you, it is ugly. It’s bad. However, that’s just how life is—it throws us challenges we can soldier on and overcome. When is it really okay to resort to lending services to cover for your financial woes? Here are 4 acceptable scenarios where it’s completely fine:
Emergencies situations and/or accidents. Accidents or any unforeseen emergencies are unpredictable. You can’t tell when a relative will pass away or when you’ll face an accident that will challenge your physical and/or mental health (as well as your finances). Who knows you might catch a cough or flu that will require you to drink and maintain medications.
At these times, a family or friend will be more than happy to lend a hand. But when you come to a low point that no one would let you borrow some cash, you can always reach out to your credible lender.
Car problems. Though car problems can be put on hold for a moment for you to focus on even bigger and important problems that need immediate financial attention, you can’t put it on hold forever. Who knows when your car will act up and breakdown. When that scenario happens, you’ll be put on the spot—leaving your car in that dire situation cost you more than as opposed to when you bring it for regular check-ups or brought to a service center immediately after a problem.
Unexpected bills. Exceeding your monthly services such as internet and mobile bills, or interest fees due to previous late payments can stress you out. It’s not uncommon for people to find themselves trapped in similar situations. If you’ve tried to borrow from everyone you know and they have nothing to lend you, requesting a cash advance or loan may not be a bad idea. Either that or forfeiting your bills which can only mean higher interest and more fees. You decide.
Home improvement. This can refer to plumbing services or unforeseen home improvement or repairs such as leaking or HVAC problems. Don’t wait till your payday or when you have enough money to pay for the services and repairs otherwise, the problem can only grow worse. In the end, it could cost you more and worse than you would have you repaired it immediately.
Don’t be ashamed and feel down when you find yourself in a bad financial situation. Everyone will find themselves battling a similar obstacle, it’s normal. If you need financial assistance and you’ve tried all your options, don’t be afraid to take a different route or try out your last resort. Just bear in mind the responsibilities and conditions of applying for a loan. Do also keep in mind the consequences of failing to repay.
Discipline, responsibility, and wise financial tracking will lift you out of any money problems. Help lift yourself up.
About the author: Chie Suarez has spent time figuring out ways on saving money and other financial related concerns. She then became a writer for Speedy Money which offers hassle-free various online loan services.September 29, 2017