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Online Lifelines – 4 Ways To Secure Emergency Funds

4 Ways To Secure Emergency Funds

The internet has helped us out of many problematic situations in recent years. We use it to learn how to get stains out of the carpet, take care of weeds in the garden, and even purchase the best car. 

Therefore, it makes complete sense that you can also use it to secure emergency funds when the person or company you owe can’t help with a payment plan or delay the payment due date. Read on to learn a few different ways to go about it if you end up in that challenging position.  

Online Loan Providers

If money is tight and the bills are piling up, you may be able to wiggle out of the tight spot you’re in with the help of low-interest money loans online. These convenient loans come with manageable repayment terms and low-interest rates. As a result, you can take care of those more pressing payments and then focus on a single set repayment amount each week. 

The beauty of online loans is that they are often fast and easy to secure. There are also plenty of reputable non-profit lenders who want to make sure you’re in the best financial position possible.

Recommended reading: Best Commercial Loan Broker?

Crowdfunding

Crowdfunding is another form of financing that allows you to raise funds through friends, family, investors, and customers. While it’s not the best option for helping you pay down credit card debt, it can be useful for emergencies like medical costs and housing. 

Lots of platforms available there that allow you to collect money from those willing to donate, as long as it’s for the right reasons. However, it’s important to note that many crowdfunding websites take a percentage of the funds raised. 

Recommended reading: Personal Loans To Buy Your Dream Car

Selling Assets Online

Every month, around 800 million Facebook users use the Marketplace feature to buy and sell goods. Rather than spending hours perusing their local thrift stores, they can hop online and bag a bargain. 

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If you are in a tricky financial position, selling goods online can be a convenient way to make money. While some platforms charge a fee to put items up for sale, many like Facebook don’t. Need to add photos, a description, a price tag, and wait for the offers to roll in. 

Take stock of items around your house that you no longer use and could sell. Next, browse your choice platform to find out what other people have listed similar items for. Your unused bread maker, dusty set of golf clubs, or stamp collection, could have a home in no time. 

Recommended reading: Home Loan EMI Calculator

Renting Out Your Space

Whether you’ve got garage space you don’t use, a spare driveway, or an empty bedroom in your home, you could be making a regular income from it. Many online platforms allow you to list extra space for a small fee. As of 2018, tens of thousands of people had listed a room or home on Airbnb alone.  

It depends on where you live, and there is plenty of passive income up for grabs. You could earn regular cash by having someone’s household furniture in your unused garage or storing someone’s boat in your driveway. Take a look online and see what creative spaces people are renting out. You may be able to earn more through these means than you initially thought.

Recommended reading: 10 hacks to get business loan

Needing cash in a hurry can cause a great deal of stress, especially if you don’t believe there’s any way to get it. Don’t give up just yet. The internet can be an excellent source of income if you can think outside the box. 

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Written by Aman verma

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