What would happen if you’re handed an eviction notice today, or found yourself on the receiving end of a legal dispute? What about a medical emergency? Or your pet falling deathly ill and in need of a vet?

Most of us Americans are one paycheck away from being on the street. Yikes.

It’s a good subject of discussion considering that 63% of us are in this shaky situation. Let’s go through the two main aspects A) the finances, and B) handling it mentally.

Handling the Finances: The Options

What is there to do when money has been cut off or the last of it spent due to the emergency?

Don’t panic, because there are options:

·  Personal Cash Loans – This alternative to payday lending is initiated through an online application with a service such as BlueTrustLoans.com. Once approved, you’re able to receive up to $1,250 by the next business day to be used for any purpose. The APR for repayment is high but can prove to be a smart option for those responsible in their borrowing.

·  Crowdfunding – This uses the power of the community to create a financial leg up. Platforms like GoFundMe or YouCaring are the popular choices. A fundraising campaign can be created within minutes and easily shared on social media. There’s no guarantee you’ll receive help but it’s worth an attempt without feeling the guilt of asking directly.

·  Offloading – This is biting the bullet and selling off the assets you can do without. EBay is a popular choice for those that have the time (it will net the most). Though pawn shops and apps like LetGo are great alternatives, too. Set prices high and let people haggle down to an acceptable price.

It’s difficult but important not to rely upon credit cards as a form of financial stabilization. Reliance on credit cards when there are better options will dig the financial hole deeper. Yet, if it’s necessary then so be it – just be ready to take charge and use effective strategies to reduce credit card debt when you’re back on your feet.

Start controlling finances before they get too out of control. Then…

Handling the Troubles: The Support

These times of emergencies aren’t all about the financial hardships. There are deep cutting, psychological troubles you’ll face when your lifestyle becomes unstable. Many are not ready to make the hard decisions to accommodate this shift; some break down and cannot recover.

In times like these, it’s best to reach out to loved ones if possible. However, keep these things in mind:

·  Join a support group to discuss your hardships and find guidance from those that have experienced the worst

·  Take up offers to get out of the house (grabbing a bite to eat, going to the park, playing games, or just having a chat) to keep a semblance of your lifestyle

·  Avoid the downward spiral of drug abuse by avoiding actions that would lead to their appearance such as going to bars or raiding the medicine cabinet

Not all of us have loved ones to fall back on. Luckily, there are many organizations to help those down on their luck. Check the HHS.gov website to find essential human programs & services when in need.

Conclusion (and Hope)

Despair seems to be all that is felt when facing a financial emergency. It’s a gut wrenching experience that feels as if there is no recovery. You need hope.

Craig Ing said it best in his article on finding hope:

“You may feel that there may be no obvious answer or resolution and therefore no way out. But then somehow you move on, you deal with the situation and things become more positive. Somehow you find an answer that means the suffering dispels or lessens and you continue on life’s wonderful path.”

Life will continue.

Have hope, use the resources, and seek the help of loved ones. It won’t be easy… but you’ll get there.