Why You Might Need Emergency Cash

There are many reasons why you might need to come up with cash in a hurry. Although most people try to plan for the unexpected, it is not always easy. If you are living from paycheck to paycheck, an emergency or situation can arise requiring money that you do not have.

Why You Might Need Emergency Cash

A Forgotten Bill

Even with the best of planning, you can forget a bill is due. It could be property taxes or another bill that you don’t pay monthly, so you forgot that is was due. However, it must be paid on time, and you are short on funds. If you do not have good credit, you are probably not going to be able to borrow the money from a traditional lender. This is why companies such as Auto Acceptance Corp. Title Pawn offer cash loans in Jacksonville, FL.

Financial advisers recommend keeping a cash reserve in a savings account to tide you over if something unexpected happens. Generally, you should have enough to cover from three to six months worth of expenses, but many people do not. Even if you have this money tucked away, several things happening at the same time could quickly deplete your savings.

A Medical Emergency

If you become ill and are unable to work, you may need enough to keep you going until you recover. It is possible that you could need medicine that is not covered by your insurance or you might have to pay expenses until your deductible is reached. If you do not have insurance, you will have to pay everything out of pocket.

An unexpected move could be a reason for needing cash. If the worst happens and you are evicted or the landlord sells your home, having the money to find a new place can be expensive. Unfortunately, many do not have the funds to just pack up and move to another location quickly. Sometimes situations occur that you find yourself unprepared to handle. Although most people try to plan for these circumstances, it is not always easy.

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