Cash flow is one of the most important elements of our daily existence – no cash means you can’t pay your bills, and that automatically puts you in an ugly situation.
To always have cash to sort out your needs requires a lot of discipline and conscious effort.
But even the most successful people can run into a rough patch and run short.
When you’re suddenly strapped for cash, what are your options for covering your cash needs until things smooth out again?
We will consider a few options below.
Personal savings have always remained the fastest and most accessible funds you can rely on when you have money emergencies.
You don’t need any approval or any unpleasant official stories, you just go ahead and get it. It’s that cool.
The problem here is that there’s hardly enough money to meet the daily demands, let alone left for savings.
So, except your income has significantly outgrown your daily needs, then you will find it difficult to save.
Come to think of it, if it were that easy to save in anticipation of an emergency, then you wouldn’t see banks today because their profit is largely from interest in loans.
For people who don’t have enough savings, some resort to selling their properties or closing their long-term investments pre-maturely, just to be able to raise some funds from within to solve needs.
The good thing is, it’s your money and you are not under any compulsion to pay back, but when you don’t have enough assets to meet the economic value of your problem, you have to look a bit farther.
Family And Friends
Let’s be real, the last you were cash trapped, who did you call? It’s either your friend or family.
By the nature of how our society is setup, once we are in need, our family and close friends automatically bear our problems too and vice versa.
If you can’t tap your own piggy bank, or if your credit score isn’t good enough to convince a financial institution to lend you money, you can always turn to the people who know you best.
Your friends and family are more likely to look past your current account balances and credit score when determining whether you are worth the risk of extending a loan – unlike proper lending houses.
However, you should bear in mind that a few things can complicate friendly or familial relationships like misunderstandings over money.
So, you should consider your ability to repay in order to maintain a good relationship with your family and friends – even before you ask them for the loan.
There’s a little problem with this option though, family and friends are not financial houses, so chances are that they may genuinely not have the money when you ask for it.
And this can be a bottleneck when trying to solve an emergency need.
So which way is most suitable?
Imagine how confident you’ll feel when you know for sure that if you walk in through that door, you will walk out with the money you need to take care of all your needs, it’s rare, and only financial houses can guarantee you that.
People used to dread taking loans from lenders, the long hours/days of wait, the uncertainty involved, the extremely arduous to get collaterals/guarantors etc. have ben top on the list of reasons.
However, all that has changed with technology. Now you can get a loan from the comfort of your home by simply visiting a website and completing the registration form.
One of the big-name transforming lending with technology in Nigeria is Page Financials. Page have not only proven to be leading this space, but has also brought a lot of innovation into the lending space in Nigeria.
From processing loans in days, Page have improved to processing loans in less than 3 hours.
From requesting numerous collateral documents, they have taken all that away, now you can apply for a loan and actually get it without any collateral or guarantor.
To get any loan however, there has to be some security. For Page Financials, all you need
to be is a salary earner who lives/works in Lagos or Ibadan and you could apply.
If you need funds to handle emergency situations and you fall short of options one ad two above, then Page Financials is best shot for quick loan, you can call on 016326243 or send an email at email@example.com and you will get feedback almost instantly