There’s a lot of reasons why someone might be looking for emergency funds:

• Hospital Bills: Whether it’s emergency surgery or a trip to the emergency room, hospital bills don’t come cheap. Most hospital bills can cost thousands upon thousands of dollars. Emergency funds will be needed if those bills pile up and need to be paid as soon as possible!
• Car Accidents: Sometimes, life happens. When someone’s car gets into an unexpected fender bender, there’s no telling how much car repairs may cost someone. For those that don’t have the dough but need reliable transportation to work, emergency funds may be the answer.
• Legal Fees: Depending on what kind of civil suit or criminal case someone gets themselves into, they could drown in legal fees in a matter of weeks. Paying the lawyer or paying fines often means spending more money than someone may have, which is why emergency funds could be useful!
• Tickets: Speeding tickets or parking tickets are no fun, especially since they have expected due dates that people can’t meet. Emergency funds may offer the quick cash that someone needs.
• Utility Bills: With so many things to pay off, electricity, Wi-Fi, gas, and more, there may be times when pockets are stretched to their limit. However, quick cash from emergency funds may be available when times get rough.
• Other Debts: Whether it be unexpected debts or credit card bills, it’s good to know that quick cash options are an option for those that don’t have the funds to cover everything now.

With that said, those who need money should first check out some of the following emergency funds that are available for them in their area. However, here’s a look at five different quick cash options to choose from.

Payday Loans

Also known as a cash advance, payday loans are some of the fastest quick cash options out there. By providing a check or bank account information, funds could be received in less than a single business day.

The loan will be due on a person’s next paycheck, hence why it’s called a payday loan. But there are a few drawbacks with these emergency funds.

If the person fails to fully pay off the loan with their next paycheck, that means that each paycheck after that will be used to pay the loan until it has been fully paid off.

Not to mention, payday loan amounts are based on the borrower’s residential state and how much they make. If someone will need more than $1,000 in emergency funds, they should consider looking elsewhere.

Title Loans

Those that are looking for emergency cash and have a car are in luck! There is a way to use their vehicles equity to receive this quick cash.

With title loans, the loan amount provided is based on the value of someone’s vehicle, as the lender requires the title for the loan (hence the name).

Depending on the state that someone lives in, title loans are great for those that need money and have the advantage of having a fully paid off a car!

Line of Credit

For those that enjoy making smaller monthly payments, a line of credit is a unique kind of loan that someone might be looking for when they need emergency funds!

Usually an available option for those that have a checking account with a bank or other financial institution, a line of credit lets a person use funds when they need them.

After being approved a certain amount, a person could use as much as their limit allows them to. The borrower will then pay off their debt through a monthly cycle, like credit card payments.

For those that need money and have the credit for it, consider this type of emergency funding!

Installment Loans

Like many of the quick cash options mentioned in this list, there are personal installment loans that allow for flexible payments every month.

Depending on the lender, these monthly payment options are the best way to build credit while keeping a steady budget.

Not to mention, the loan amounts may vary and borrowers could receive the money they need as soon as possible!

Pawnshop Loans

Pawnshop loans are kind of like title loans, except the collateral could end up being a variety of objects that have monetary value. This could include jewelry, electronics, or even furniture. Reliable Pawn Shop Loans offer quick cash based on the assessed value of these items, providing a straightforward solution for those in need of immediate funds without a traditional credit check.

The amount provided is based on the item’s value. Once a borrower pays off the loan, they will be able to reclaim their possession.

Be mindful that the loan amount varies because it is based on the monetary value of the possession. Make sure to do some research before considering this quick cash option.

Emergency funding may not just be narrowed down to these five options listed. There are steps to consider in maintaining a healthy level of cash flow that could prove to be just as useful when it comes to acquiring emergency funds!