Are you struggling to make ends meet and have no clue how to get financial help? The cost of living in every country continues to rise with the current conditions. During the 2nd quarter of 2022, about 45% of Canadians said that their finances got worse.
Saving funds is the best way to protect yourself from unforeseen financial crises. However, not everyone can stash money away for emergencies.
With KingCash, you can stop worrying about money. Read on to discover ways to get financial help!
How to Get Financial Help?
When faced with financial difficulties, finding help is crucial. In case of emergency, KingCash gives an idea of how to get financial help.
1. Sell Valuable Jewelry
Do you have any gold or silver jewelry hidden in your closet? In times of financial difficulties, those valuable pieces can be handy.
If you have any jewelry with these types of metal, use it to generate ample cash. Then, you can sell or pawn it to credible jewellers in your local area. However, remember your purpose before putting them up for sale.
Ask yourself if you have no other options to get funds. Some gold and silver jewelry can carry a lot of sentimental value. If you sell or pawn it, you can never retrieve it.
When you decide to sell it, look for a jeweller you can trust. To guarantee you get the right amount, check the gold spot price. Doing so gives you an idea of the price of your jewelry in the market.
2. Have a Garage Sale
Apart from selling jewelry, you can have a garage sale to generate funds. Selling old and kept items is a great way to generate funds instantly. You can sell clothes, furniture, books, and many more.
Price the items based on their value and condition. Then, post signage outside your home talking about the upcoming garage sale. If you want to reach more potential buyers, go online.
You can post about your sale on platforms such as Facebook Marketplace and Instagram. For a large number of items, list them on shopping sites. You remove unwanted and cluttered items in your space by selling some of your things.
3. Borrow Money From a Family or Friend
When faced with a difficult situation, most people go to their loved ones to vent and ask for advice. They are the people whom you can trust and who understand your situation the most. Consider borrowing from a family member or a friend.
Always explain your situation when asking for financial help from a loved one. Then, come up with an agreement or repayment plan to avoid conflict.
Unclear terms, nonexistent interest, and failure to pay put your relationship to the test. You may opt to create a legal and authorized agreement. This protects the rights of the lender and borrower.
4. Look for Financial Assistance
Do you know the financial assistance offered by your local council? Most governments extend financial help to their community. This can cover your medical fees, education, and other expenses.
In Canada, the benefits range from public pensions to housing. There are plenty of welfare benefit programs that serve different purposes. Moreover, some authorities offer financial help with different rules.
Keep in mind that they often offer these benefits to people with a low income. Further, some impose criteria you must meet before they grant you financial benefits. Check your eligibility by visiting the official website of your government.
5. Take Out a Personal Loan
Without risking assets, apply for a personal loan to cover your financial problems. It’s an unsecured credit that grants you a fixed amount of money. This means you don’t need to pledge collateral to get approval.
With a cut of red tape, you can receive funds fast with personal loans, more so for fintech companies. If you need immediate cash, KingCash offers same-day loans, accessible within the application day. Another good thing about their service is you can apply online!
You don’t need to line up for hours to process your loan. With technology, KingCash can grant you credit and deposit them in your account. Like the application process, you can make payments online.
Taking out a loan can be a huge deal and hurt you if you don’t do it right. Check out our guide on things to consider before taking out a loan.
6. Withdraw From Your Credit Card
When you hear “credit card,” the first thing that comes to mind is cashless payment for goods and services through credit. However, not everyone knows you can borrow and withdraw money from this card. So, if you need cash and you have a credit card, go to the nearest ATM to get the bills.
Having a credit card is good. Apart from getting instant cash, you can increase purchasing power and avoid fraudulent activities. When you have a good credit score, applying for future loans is easy, too!
Despite the benefits, you must beware of the drawbacks, too. Although a credit card is quick for financial emergencies, it has lasting adverse effects. They apply the interest rate upon withdrawal, charge you a cash advance fee, and delayed payments result in more interest charges.
With this, we only recommend a credit card as a last resort for getting financial help.
What Should You Remember?
Before you get financial help, you must remember to be honest, transparent, and grateful. Explaining your financial struggles to other people is never easy.
People want to know you’ll use their money for a good cause. Some providers want to see how you plan to use the funds granted to you. Moreover, never forget to show gratitude to the people who extended help.
Get Financial Help With KingCash
Many people struggle to cope and make ends meet. Learning where and how to get financial help is crucial.
KingCash offers several alternative financing solutions to help you in a pinch! For more information about our services, you can contact us here.