Did you know that folks in Canada (just like you) have taken out $704.5 billion of non-mortgage loan debt, as of March 2022? This could be anything like a student loan, car loan, or a loan from a money lender or a money lending app.
The truth of the matter is sometimes emergency financial situations happen that are quite beyond your control and the necessity arises of taking out quick loans to fund the emergency. It’s usually a small amount, like $500 or $750, and it’s paid back within days or weeks when the emergency gets resolved.
If you are wondering what are the various reasons you could potentially take out such a loan from a money lender, then we have listed some key reasons below. So keep reading!
1. Emergency Car Repair
Canadians love their cars more than ever, so much so that even higher fuel prices won’t stop us from driving around. But what happens if your vehicle dies suddenly or gets into an accident with a lamppost or the highway divider because you fell asleep on the wheel?
If you are already struggling to pay your regular bills, then this additional expense is going to be a kick in the behind. But you can’t do without your vehicle. You need it to drive to work, to drive your children to school, and so much more!
That’s when you can avail yourself of the services of a money lender and get fast cash. A few hundred dollars should help you get your car fixed by a mechanic, so you are not stranded at home, or worse having to use public transportation during rush hours.
2. Paying off a Higher-Than-Normal Credit Card Bill
Did your child want an iPad for their birthday or a particularly expensive pair of Yeezys? Or maybe you had to put some random expense on your credit card because you didn’t have the cash to pay for it?
Either way, if you have a situation where your credit card bill is higher than your usual monthly outlay, then instead of pulling out your savings or dipping into your emergency fund, you can get a loan instead. It’s a quick loan in any case, and once you get your next month’s paycheque, you can pay it back.
3. Helping Out a Friend or Family Member in Need
Are you the only responsible one in the family, the only one with a stable job or any financial sense? Well, your family members, relatives, and friends probably rely upon you to bail them out when they are in trouble.
You don’t want to do this too often, because then they aren’t going to learn their lesson. But if it’s a particularly scary emergency, then you will want to assist your friend financially. Make sure they have a plan to pay you back though, as you don’t want to become a pushover who gives money to their loved ones without any return expectations.
4. Buying a Phone That Was Stolen (Or Some Other Item)
Your phone is probably your lifeline. It’s how you communicate with your children and partner, perhaps even with work. Also, it’s probably how you do online banking, and carry out other financial transactions.
If your phone gets damaged or stolen, then you will want to replace it right away. It’s highly inconvenient living in today’s world without a working phone at hand. Use a money lender like Kingcash and get a loan in minutes so you don’t have to worry about being stranded in a snowstorm without a phone.
The same thing applies to any other item that might have been stolen or damaged, either because your purse was snatched. Or because you left your precious item somewhere as you were distracted, tired, or in a rush.
5. Getting Your Home Damage Repaired
Did your home’s pipes burst suddenly causing your basement to flood? Or was it so cold that the pipes froze up meaning that you didn’t have hot water for a couple of days and needed to call in a repairman?
Whatever the circumstances might be, your home probably tends to break down and need repairs at the most inopportune financial times. That’s why a quick loan from money lenders like Kingcash is so useful.
This way you don’t have to borrow money from a friend or relative. You can remain independent and take care of your business yourself, without any interference from others.
6. Sudden Funeral Expenses
This has to be the worst situation to be placed into. Not only are you dealing with the death of a loved one, and grieving over it, but you also have to deal with funeral expenses which are growing more expensive every year.
If you want to give your loved one a good farewell, then you will want to spend a few hundred dollars on their funeral. Don’t have the cash for it? Grab a quick $500 or $750 from Kingcash and rest easy.
7. Replacing a Home Appliance That Died
Another situation that happens more often than it should is a fridge or a furnace just dies without any notice. All your precious food will go to waste if you don’t buy a new one right away. Or your family is going to freeze all night if you don’t get your furnace repaired.
In such circumstances, don’t wait and get fast cash from a money lender right away. This will help you take care of your family’s health first before anything else untoward happens.
Money Lender Services in Canada Are There to Help
Emergencies happen. There’s no way around them. If you are living paycheque to paycheque, then even a small emergency can topple your financial house of cards.
Use money lender services like Kingcash to tide you over in such situations, so you are not destitute and declaring bankruptcy because of some random happening. Enter your information, and claim your cash in less than 5 minutes! It’s that easy.
