What do you do when a financial disaster strikes? After today, you’ll want to pick up your phone right away.
Although you may not be dealing with an unexpected emergency at the moment, there’s a good chance you’ll face one in the future.
Life’s just like that—you’ll be motoring along just fine, paying bills and socking away savings. Next thing you know, you hit a speedbump. Maybe your tooth cracks on an especially hard peanut, or your roof starts to leak on a rainy afternoon.
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If you’re wondering how you can handle these unforeseen expenses, the phone in your hand could hold the answers.
Search for Short Term Personal Loans Online
An unexpected breakdown can arrive when you’re short on funds and payday’s too far away. If you don’t have any savings, you can use your phone to compare and apply for short term personal loans.
Short term personal loans over the phone are convenient in a time crunch. Short term lenders like MoneyKey offer simple virtual applications that take very little time to complete. This cuts down on your wait time to hear if you qualify, speeding up the whole process from the start.
If approved, you’ll receive your funds digitally in the bank account you supplied in your application. Again, this step simplifies your experience, as you won’t have to meet someone in person to pick up a check. Some online direct lenders may even provide emergency same day loans, so you can get your funds without delay.
Use Your Phone to Put Savings First
As easy as it is to apply for loans over the phone, the lending experts at MoneyKey say loans never beat savings. Your emergency fund is the single most convenient way to handle an unexpected repair or medical expense. Since it’s your cash, you won’t have to apply to withdraw it, nor will you face interest rates or fees that online loans direct lenders charge to borrowers.
That said, squirrelling away money at a time like this can be challenging. Inflation means everything costs more, so your budget may not stretch as far as it used to pre-pandemic.
If you’re finding it difficult to spot the savings in your spending plan, your phone can help in a few ways:
- Download a Budgeting App. You can sign up for a free budgeting app that helps you track spending, giving you a chance to catch any unnecessary expenses you can cut to boost savings. Some might even flag bad habits for you, so you don’t have to invest a lot of time crunching the numbers.
- Sign up for e-Banking. It’s easier to keep tabs on your finances when all your accounts are just a tap away. Once you’re enrolled in e-banking, you can check your bank statements, send payments, and set up automatic savings
- Use Rounding Services: An easy way to double-down on saving is by using an app that rounds your daily purchases to the nearest full dollar, investing the change in savings. This digital version of the snowflake debt repayment method helps you make the most of small-as-snowflake windfalls.
- Download Rewards Apps: No matter how tight your budget is, you’re going to have to spend money on groceries and toiletries. You might as well earn something from these necessities by downloading loyalty, rebate, and coupon apps to earn cashback and other rewards.
Your Phone is a Valuable Financial Tool
Bottom line, your phone is an incredible resource for financial apps and short term personal loans online. Check them out before your next emergency so that you can be prepared for anything.