There is no denying payday loans have been helpful to a lot of people out there, especially for those who faced an emergency and wanted quick financing in a few hours or days. But for others who are not in the dire need of money, it is always better to think twice before resorting to a cash loan or a short term personal loan. If you are in a situation that demands quite a lot of money, getting your hands on the retirement fund is an option. Of course, i know for a fact that not many would like to go through with that choice. What i am trying to say is that when it comes to choosing a fast approval loan, a lot of thought has to be given before making a deal.
Choose help from family:
For many, this would mean a hard pill to swallow. But it is time to swallow the pride and get help from the family. Because debt right after divorce will not be an easy thing to handle and it will end up exacerbating the problems you are already facing in your life. Debts can compound the issues and make living much harder than you can imagine. And the harder part will show up when you are not able to get rid of it despite what you try and where you get help. A pile of debt would be followed by debt consolidation or debt settlement and your credit score will take a hard hit. These are just some of the reasons you must avoid an emergency loan and instead choose getting money from family.
It is about time for an emergency fund:
Do not say your meager monthly income will not pave way for it because that is probably not the truth. The truth is that your budgeting is not even close to perfect and most importantly, your mindset and implementation are not what they should be. Trust me when i say a small part of the income sent into the emergency fund over time will act as a life saver someday. Make way for this fund by reducing the heating or the cooling expenses, cutting down the night outs and cutting down the food you buy outside. Those ideas might not seem practical the first time you hear them but compelling yourself to implement them will open your eyes for sure.
