While it is never a good idea to wait until the last minute to prepare for a financial emergency, it can happen. If you have found yourself without preparedness with an emergency cash kit, you might be struggling financially. However, with a few simple steps, you can find the tools and resources to help begin building savings.
When your situation has become a crisis, consider all of your alternative options, such as a title loan. With resources like Max Cash® Title Loans, you could get connected to the right tools for your finances. 5 Applying can take just minutes to do online, or over the phone.
To find out more about your emergency cash kit options and how to build preparedness, keep reading below!
Why You Need an Emergency Cash Reserve
An emergency cash kit is similar to a rainy-day fund, but it has much more importance than treating yourself. With an emergency fund/kit, you can potentially protect yourself and your family during crucial times.
The difference between being prepared and struggling to make ends meet can depend on emergency cash. While you will need funds in your checking and savings account, you will also need a reserve of cash as a backup. There may come a time where you can’t rely on your electronic funds to buy necessities.
Bank accounts and ATMs may not be consistently accessible, so having a cash emergency kit if you need to buy gas, pay rent, buy groceries, or take care of other necessities, is crucial. Small bills and big bills in cash, should be in your cash reserve for a disaster.
Goals for your Emergency Savings
Your emergency cash kit will be different than your emergency fund in a bank account.
Your emergency fund in your bank, however, is a little different. This fund should be able to provide you with a safety net in the event that disaster strikes, and you need money for healthcare or living expenses.
To build up your emergency fund, consider having all of your family members chip in a small percentage of their paychecks or allowance. Take your own paycheck and dedicate a portion of it towards your emergency fund. Financial experts say that 10% of your paycheck should be dedicated towards your savings fund, or an emergency cash kit. If you are paid on a biweekly basis, dedicate a small portion towards your emergency fund for a cash reserve.
If you are able to, cut out the non-necessities. Try converting your habits into more frugal ones, it can save you an upwards of hundreds of dollars each year to do this!
With these tips, you may be able to build your emergency cash reserve slowly and have a reserve to rely on in times of a crisis.
How Can Max Cash Title Loans Help Me with My Emergency Cash Kit?
If you did not prepare for your emergency ahead of time, you may need some extra help getting the funds you need. This is where Max Cash Title Loans can step in and give you financial relief.2 5 By connecting you to thousands of online lenders, you may be able to find the right one for your financial situation. 5
Applying online or over the phone is easy, and it can take just minutes to do.2 Or call a representative today!