Ten best option when you need fast cash
Justin Sullivan / Staff / Getty Images
When it rains, it pours.
What happens when your emergency fund isn’t enough?
Long-term unemployment or a medical emergency can easily dry up a once-healthy rainy day fund, leaving consumers wondering where to turn next. According to a recent consumer expectations survey by the New York Federal Reserve, only one in three Americans say they wouldn’t be able come up with $2,000 within a month to cover an unexpected expense.
It’s during times of vulnerability like this that it’s easy to jump at seemingly quick and easy sources of cash, like payday lenders, credit cards, or even your 401(k).
Unfortunately, practically every potential source of cash that doesn’t come from your own piggy bank is going to cost you in some way.
But at this point, it’s all about choosing the lesser of all evils — when all you have are crummy options, how do you decide which one is the best of the worst?
We’ve ranked common sources of emergency short-term cash from best to worst, which can help you sort through your borrowing options when your savings dry up.
This article originally appeared at Magnify Money. Copyright 2017. Follow Magnify Money on Twitter.
“Benjamin Briel Lee was very professional at all times, keeping me aware of everything that was happening, If I had any questions he was always available to answer. This was my first home purchase, I didn’t know much about the loan process, he made it very easy to understand the things I had questions about. I really enjoyed working with him.”
ReplyDeleteHe's a loan officer working with a group of investor's who are willing to fund any project or loan you any amount with a very low interest.Contact Benjamin Briel Lee E-Mail: 247officedept@gmail.com Whats-App Number: +1-989-394-3740.