I always say it’s not of a matter of if, but when a financial emergency will come your way. Whether it’s a full blown recession, you lose your job, your car breaks down, you have a medical emergency and are unable to work, or something else, we’ll eventually face an issue. Our heating unit needs replacing, that’s our latest financial ’emergency’. Although hopefully you have an emergency fund set aside, sometimes we’ll find ourselves in over our heads. So it’s understandable when we fall into financial hardship sometime or another.

When we’re in a bind, we’ll often need help. Whether this is help in the form of advice, help in the form of extra cash, or help in the sense of emotionally getting through it, having support is critical. Let’s explore a few common ways of improving your situation:

Friends And Family

Calling upon friends and family at this time can be essential. Not only can they help address your immediate needs (ex letting you stay at their place), but it might allow you to gain some kind of financial buffer necessary to let you survive for the short term future. It’s not uncommon for those who have experienced something difficult to return to the home of their parents or those closest to them until they figure things out. Or perhaps it’s advice that’s needed. Your parents may not know it all, but they have been around longer and likely seen more than you, and can hopefully offer some real advice. If not, hopefully someone you trust in your friend group may have some worthwhile advice to offer. Be sure to extend the same courtesy to your family members or friends if they also need the same assistance!

Find A Great Financial Lawyer

Hopefully your situation isn’t so dire that you require a lawyer, but it might. Many think that learning how to find a good lawyer will only come when in immediate need, as if they will come by being beckoned with a call, or perhaps a nightlight lighting up the sky with a specific symbol. Of course, that’s not the case, but through researching online you can find many incredible lawyers who will be willing to give your case the time of day it deserves, potentially helping apply for bankruptcy, contact debt agencies, or push yourself through a hefty financial judgement.

Downsizing your stuff for cash

We would also recommend that you sell what assets you have if possible. Refinancing a mortgage might help you out of some debt, but that’s not exactly what this process is supposed to be used for and it could take a while. Perhaps you could sell a few items on eBay, Craiglist, or have a yard sale. Potentially you could raise enough cash to get you through the emergency. Regardless, you should definitely downsize your lifestyle. Cut out all necessary expenses and focus on surviving!

Next time around please, please consider having an emergency fund set aside in addition to your support system of friends, families or lawyers. 3-6 months of expenses set aside is ideal! In the meantime, keep your chin up, focus on getting through and emerge stronger!

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