| Hopefully you will never run into a financial | | | | Instead, consider taking out a loan as discussed |
| emergency. Unfortunately, emergencies are things | | | | above.5. Find out what help is available locally.Often, |
| that we cannot foresee. The best that we can do is | | | | cities or counties will have various safety nets set up |
| plan for an emergency, but sometimes circumstances | | | | in order to help you deal with emergencies. You |
| make planning impossible. This article will help teach | | | | might have to go to more than one source to meet |
| you how to deal with financial emergencies that you | | | | all your needs (as they sometimes specialize in only |
| are not prepared for.1. Consider taking out a | | | | helping with hydro, or only helping with rent).Colleges |
| loan.Taking out a line of personal credit can help you | | | | and universities have emergency funds available to |
| through an emergency. You can spend as much or as | | | | their students. Check these out as a way to help |
| little of this loan as you need. Personal lines of credit | | | | bridge the gap.Local churches and other charitable |
| are among the lowest interest loans you can take.2. | | | | organizations sometimes have emergency financial |
| Speak to your Creditors.If you are going to be | | | | assistant programs set up. If you are seeking |
| unable to make a bill payment this month, call up the | | | | emergency financial assistance, be prepared to bring |
| phone or utilities company and explain that you will | | | | your social insurance number/social security number, |
| have to make your payment late. Sometimes you | | | | and your bills. You might have to bring other financial |
| can arrange upon a later date for payment, or a | | | | material, such as bank statements, to qualify.6. Get |
| partial payment that can be paid off later.3. Never | | | | help. You might need to speak to a financial planner |
| get a payday loan or cash advance.These loans have | | | | or debt counsellor to help you with your emergency |
| the highest interest rates on the markets, sometimes | | | | situation. They will help you create a plan to manage |
| upwards of 200%. Many people who get payday | | | | your debt and to get you through the financial crisis |
| loans assume that they will only need one for this | | | | you are in. They will be able to point you to valuable |
| paycheck, but in reality, the majority of people have | | | | local resources. It is better to talk to someone earlier |
| to return for second, third, and further loans. This is | | | | rather than later to make sure that you are making |
| because even if next paycheck you are back in the | | | | the right decisions. It is okay to ask for help during |
| black, you will still have to pay off (often hidden) | | | | an emergency: you will fare better if you are assisted |
| fees from the payday loan company, which will mean | | | | by an expert.Morgan James is an editor of Guide to |
| that you need another advance on your money. This | | | | Loans ( is an independent information site devoted to |
| is a negative cycle to get involved in.4. Avoid | | | | helping people understand how to effectively use |
| debt-rotation strategies.Do not try to pay off one of | | | | their finances. The Guide to Loans help people |
| your credit cards with another of your credit cards, | | | | understand ways they can get out of debt and back |
| or similar tactics. Credit cards are very high interest | | | | in control of their lives.This site offers information on |
| loans, and it is unadvisable to leave a high balance on | | | | how to deal with financial emergencies, including |
| your credit card because you will end up paying much | | | | personal loans, credit cards, mortgages, and much |
| more (and for much longer) than you have to. | | | | more financial information. |