If you were in desperate need for money....

[TastyChillySauce00]

If it's desperate, then I would consider asking my friends and family first. If that doesn't work out(which I'm sure will) then I'd try to take a loan with a collateral. And If that doesn't work out too, then I'd consider selling the collateral for a low price. If I were in desperate need for money..

I'm assuming the money is not  a very very large sum

If I am desperate in need for money I will not go to the bank because if I will going to take a loan there are just going to reject my application.

Because I don't have stable job and I don't like to pay interest rates that they are going to put to the borrowed money.

I will just going to use my savings if I am really desperate.

If someone has savings then he probably doesn't need to borrow money from a bank or someone else, but if the case is different from yours means if someone does not have any savings then he will be compelled to take a loan or borrow some money from someone.

LOL that's really fun,if someone just in need of money but have saving there's no way he can feels desperate,he just need to take out the funds out of his piggy bank and the problem solved,and as you say in this case the person don't even have any saving left

[bamboylee]

That is why emergency funds shouldn't be taken for granted and not be considered as optional. We should be able to build an emergency fund that is equivalent to 3 to 6 months of what we spend. Better if we can make it bigger so that when the time comes that we are in dire need of money, there is some emergency fund on standby. And even if it is not enough, that should serve as a first aid.

Some say it will be idle money because it will just be sitting in your bank account without earning money. But emergency funds are life savers. Everything else in life can be planned but emergencies cannot. Emergency funds answer for those needs.

[phreaky]

I would consider selling things that I don't need, or that are not very important for me in my daily life. Then I would use part of the earned money to invest in something with potential to give me profit.

Yes its a wise idea than to borrow money to someone with interest. i would also sell the things that is not really important, but to prevent that scenario its better to start saving so you will have money to spend incase you badly need it.

I think if we can generate the habit of saving on regular basis then we will never face such tough situation when we need to spend some things or borrow it from people around us.

well yeah, i think saving is always a good decision to make right now, and you would never need money

Yep that's why you save an emergency fund just so you don't have to ask this question to yourself ever.
But if in need of desperate money I would resort to family since I can trust them and they can trust me. I'd borrow from them and pay it back asap.

[freedomgo]

I would consider selling things that I don't need, or that are not very important for me in my daily life. Then I would use part of the earned money to invest in something with potential to give me profit.

Yes its a wise idea than to borrow money to someone with interest. i would also sell the things that is not really important, but to prevent that scenario its better to start saving so you will have money to spend incase you badly need it.

I think if we can generate the habit of saving on regular basis then we will never face such tough situation when we need to spend some things or borrow it from people around us.

well yeah, i think saving is always a good decision to make right now, and you would never need money

Yep that's why you save an emergency fund just so you don't have to ask this question to yourself ever.
But if in need of desperate money I would resort to family since I can trust them and they can trust me. I'd borrow from them and pay it back asap.

There will be nothing better that you family because they understands better, if they can lend you money then it's good because they will not pressure you to pay right away but do not abuse them, you also need to pay as agreed.

[agustina2]

There will be nothing better that you family because they understands better, if they can lend you money then it's good because they will not pressure you to pay right away but do not abuse them, you also need to pay as agreed.

And in the times that people needs money again, they can easily get help to those persons they asked for a loan if ever they have a good record of paying back the loan without any problem.

That is the problem sometimes by some of the persons, they didn't able to pay back the loan on the agreed time that's why next time they needed it, they really goes in a hard process before they can able to get another loan.

[Positid]

There will be nothing better that you family because they understands better, if they can lend you money then it's good because they will not pressure you to pay right away but do not abuse them, you also need to pay as agreed.

And in the times that people needs money again, they can easily get help to those persons they asked for a loan if ever they have a good record of paying back the loan without any problem.

That is the problem sometimes by some of the persons, they didn't able to pay back the loan on the agreed time that's why next time they needed it, they really goes in a hard process before they can able to get another loan.

We should always remember that, we should maintain our credibility so in times of desperate needs of money we will be able to make a loan from a certain person or from a business establishment, even those businessman, reputation is very important to them because that is there ticket to borrow a good amount of money for expansion of their business or additional capital.

[Samadur]

You can borrow from friends. Go get credit in the bank. If not, then you can sell the car or other valuables

[dunfida]

You can borrow from friends. Go get credit in the bank. If not, then you can sell the car or other valuables

The big  question is? Do you own a car? Do you have a stable job? Do you have another  things that are valuable? If none  then you would really have a hard  time  on asking some  loan its either on banks  or  on lending firms  since they would surely  ask for collaterals  and other capabilities  to repay of such loan.

[StarofBTC]

You can borrow from friends. Go get credit in the bank. If not, then you can sell the car or other valuables

Usually in the times of emergency need of money, I go for pledging gold ornaments. Because that will be a better way of getting money other than borrowing from friends. I really do not want to disturb my friends for money related things. So, I always prefer to go with gold loans for emergency money needs.

[randy8777]

You can borrow from friends. Go get credit in the bank. If not, then you can sell the car or other valuables

Usually in the times of emergency need of money, I go for pledging gold ornaments. Because that will be a better way of getting money other than borrowing from friends. I really do not want to disturb my friends for money related things. So, I always prefer to go with gold loans for emergency money needs.

selling stuff in times where you need money is the best and first option you should think of. at second comes asking friends or familiy for a loan that you can pay back 1:1. taking loans from banks is something you should avoid at all times. that will most likely push someone even further into the hole. making use of a pawnshop for certain things require you to pay interest.

[groll]

You can borrow from friends. Go get credit in the bank. If not, then you can sell the car or other valuables

Yes, it is pretty easy to say to loan on the bank or sell cars and your valuables.   But you should not look forward on things like that.  Selling your car or go to the bank because the amount you borrow can be prevented if you have a good financial management.  And the fact that they will give some fees and interest is not a good thing

[Spirit2016]

You can borrow from friends. Go get credit in the bank. If not, then you can sell the car or other valuables

Yes, it is pretty easy to say to loan on the bank or sell cars and your valuables.   But you should not look forward on things like that.  Selling your car or go to the bank because the amount you borrow can be prevented if you have a good financial management.  And the fact that they will give some fees and interest is not a good thing

If I need money for a short time, you can go to the credit unions. Often, many people are willing to borrow money in a minute against a receipt because that urgently need to buy something or somewhere to pay.

[serjent05]

That is why emergency funds shouldn't be taken for granted and not be considered as optional. We should be able to build an emergency fund that is equivalent to 3 to 6 months of what we spend. Better if we can make it bigger so that when the time comes that we are in dire need of money, there is some emergency fund on standby. And even if it is not enough, that should serve as a first aid.

Some say it will be idle money because it will just be sitting in your bank account without earning money. But emergency funds are life savers. Everything else in life can be planned but emergencies cannot. Emergency funds answer for those needs.

I agree savings are savings and can be called emergency fund if things went wrong and needed money for it.  But if you have savings then you will be not in desperate need  of money because you already have the fund for your need.  So it wont force you to borrow money from bank or other people  which most people who don't have reserve  fund actually do when in need of money.

[socks435]

That is why emergency funds shouldn't be taken for granted and not be considered as optional. We should be able to build an emergency fund that is equivalent to 3 to 6 months of what we spend. Better if we can make it bigger so that when the time comes that we are in dire need of money, there is some emergency fund on standby. And even if it is not enough, that should serve as a first aid.

Some say it will be idle money because it will just be sitting in your bank account without earning money. But emergency funds are life savers. Everything else in life can be planned but emergencies cannot. Emergency funds answer for those needs.

I agree savings are savings and can be called emergency fund if things went wrong and needed money for it.  But if you have savings then you will be not in desperate need  of money because you already have the fund for your need.  So it wont force you to borrow money from bank or other people  which most people who don't have reserve  fund actually do when in need of money.

But not all people have savings if they are disperate the only thing that they can do is to borrow money to others. or they can also borrow a loan in banks   but only people who has job that can take loan..

[agustina2]

There will be nothing better that you family because they understands better, if they can lend you money then it's good because they will not pressure you to pay right away but do not abuse them, you also need to pay as agreed.

And in the times that people needs money again, they can easily get help to those persons they asked for a loan if ever they have a good record of paying back the loan without any problem.

That is the problem sometimes by some of the persons, they didn't able to pay back the loan on the agreed time that's why next time they needed it, they really goes in a hard process before they can able to get another loan.

We should always remember that, we should maintain our credibility so in times of desperate needs of money we will be able to make a loan from a certain person or from a business establishment, even those businessman, reputation is very important to them because that is there ticket to borrow a good amount of money for expansion of their business or additional capital.

Exactly. Even big persons are doing loan up to now but they are not giving dirt to their names just because of a loan.

So an average joe can do it also. So in times of desperation of money and someone lend us a help, we must pay the debt according to terms. If in the cases that they didn't able to make it to right time, talk to the lender and not just ignored it. Lender likes an update rather than a silent response.

[krishna1]

i dont know i will tty to increase my working time ofcourse that will also increase my frustation but i will get more mney by yhis and if the needing more is 10-20times bigger than my workpay then i will ask my famiy or my friends

[botany]

i dont know i will tty to increase my working time ofcourse that will also increase my frustation but i will get more mney by yhis and if the needing more is 10-20times bigger than my workpay then i will ask my famiy or my friends

Unfortunately, for most people unpaid overtime is a reality.
Hence increasing the number of working hours just doesn't help

[Zooplus]

i dont know i will tty to increase my working time ofcourse that will also increase my frustation but i will get more mney by yhis and if the needing more is 10-20times bigger than my workpay then i will ask my famiy or my friends

Unfortunately, for most people unpaid overtime is a reality.
Hence increasing the number of working hours just doesn't help

That is because there are companies that violate the laws and take advantage on the under employment in a certain country, if you are an employee you would not complain anymore because your job is really important to you and you do not want your boss to dislike you.

[bamboylee]

That is why emergency funds shouldn't be taken for granted and not be considered as optional. We should be able to build an emergency fund that is equivalent to 3 to 6 months of what we spend. Better if we can make it bigger so that when the time comes that we are in dire need of money, there is some emergency fund on standby. And even if it is not enough, that should serve as a first aid.

Some say it will be idle money because it will just be sitting in your bank account without earning money. But emergency funds are life savers. Everything else in life can be planned but emergencies cannot. Emergency funds answer for those needs.

I agree savings are savings and can be called emergency fund if things went wrong and needed money for it.  But if you have savings then you will be not in desperate need  of money because you already have the fund for your need.  So it wont force you to borrow money from bank or other people  which most people who don't have reserve  fund actually do when in need of money.

But not all people have savings if they are disperate the only thing that they can do is to borrow money to others. or they can also borrow a loan in banks   but only people who has job that can take loan..

As long as you have a good collateral for your loan, the bank will give you a loan. But it is not the best option because banks puts large interests on your loans. That will put you in a greater debts even if you missed just one pay.

[milewilda]

That is why emergency funds shouldn't be taken for granted and not be considered as optional. We should be able to build an emergency fund that is equivalent to 3 to 6 months of what we spend. Better if we can make it bigger so that when the time comes that we are in dire need of money, there is some emergency fund on standby. And even if it is not enough, that should serve as a first aid.

Some say it will be idle money because it will just be sitting in your bank account without earning money. But emergency funds are life savers. Everything else in life can be planned but emergencies cannot. Emergency funds answer for those needs.

I agree savings are savings and can be called emergency fund if things went wrong and needed money for it.  But if you have savings then you will be not in desperate need  of money because you already have the fund for your need.  So it wont force you to borrow money from bank or other people  which most people who don't have reserve  fund actually do when in need of money.

But not all people have savings if they are disperate the only thing that they can do is to borrow money to others. or they can also borrow a loan in banks   but only people who has job that can take loan..

As long as you have a good collateral for your loan, the bank will give you a loan. But it is not the best option because banks puts large interests on your loans. That will put you in a greater debts even if you missed just one pay.

Yes, banks would intend  to give you  a loan especially when you have a good collateral like house, lot, car  and other valuable things. As you said   the main  problem  here on  borrowing  into banks is the  high interest that they  put on your  loan which is somehow a  drawback  for us when  we intend to  borrow from them.