Family Finances: 4 Emergency Funding Options When Money is Tight

Even though you might try hard to be financially responsible, you never know when a financial disaster could hit your family. It may never happen, but it never hurts to be prepared in the event that it does happen. 

If you have found that your family is going through a bit of a financial crisis, you might be unsure of what to do next. Luckily, though, you do have a few options for acquiring cash while in a tough situation.

1. Head to a Pawn Shop

One option that you can look into is heading to a local pawn shop. One option is to sell old items that you don't want any more for cash. 

Then, you do not have to worry about paying anything back, which can be a bit of a relief when you're going through a tough financial situation. Different pawn shops are often interested in different things, but in general, you can often sell jewelry, electronics, musical instruments and equipment and other similar items of value in these shops. 

If you don't want to permanently part with these items, you can consider a pawn shop loan, which is a collateral type of loan in which you leave your item at the pawn shop until you're able to come back and make your payment.

2. Take out a Cash Advance

If you have a paycheck coming your way but need the money now rather than later, a cash advance can be a good option. Companies like American Cash Advance and Title Loan might be able to help you out. 

With a cash advance, you can generally borrow an amount equal to your paycheck until payday rolls around. Even though you might have to pay interest and fees for the service, it can be worth it if you need to get your hands on some cash immediately.

3. Look into a Title Loan

If you have a car that is paid for, a title loan might be a good option for you. With this type of loan, you use your car's title as collateral for a loan. Then, you can borrow the cash while still driving your car in the meantime. 

This can be a good option, particularly if you need to borrow a larger amount of money. This is because lenders will often grant more on these types of loans, since you are using your car to back up the money that you are borrowing.

4. Take on Odd Jobs

There are always a few ways that you can make some extra money. One of those ways is to take on some odd jobs. This could include going to a temp agency and see what they have available, to just doing something around your local community or neighborhood. You can do little things such as mowing lawns. 

You could even help out with some light landscaping. If you go that route, start with your own yard. Do a good job and take pictures to show your neighbors and other perspective people in your community. 

Ask if you can do something similar for their yard to help make it look nice. However, be somewhat flexible with how much they are willing to pay you. After all, some money is better than no money when you have fallen on hard times financially.

As you can see, if you and your family are going through a financial crisis, you do have options. These are three options that you can look into if you need to get your hands on some cash fast.