How To Deal With Stress In A Financial Emergency

October 23, 2020 | Emma Frost

financial stress and problems

 

One of the most stressful times in life is that involving a financial crisis. This could result from job loss, a medical emergency, unpaid bills, and a myriad of other reasons. Without a doubt, financial worries can negatively impact your life and mental health.

If you ever find yourself in such a situation, you should know how to sail through without damaging your well-being. It might seem impossible to tackle it- but with effective management, you can be better equipped to recover from the financial dilemma.

Remember These Tips For The Next Financial Emergency

One of the worst things about a financial emergency is the stress that comes with it. But it doesn’t have to always be so stressful. Here are some effective tips to face your financial emergency without taking stress:

Have A Budget

One of the main reasons many people end up facing a financial emergency in the first place is having no budget. This is because a budget is always the most effective way to keep your spending in check. Without a budget, there is no established plan to follow; no check and no balance.

A well-planned budget helps you organize your expenses and set aside your savings. It may be challenging but if you manage to follow this budget, any financial emergency will be handled much better. Plus, with those savings, you will have a cushion to fall back on.

Don’t Panic; Stay Positive

What if it's too late and there is no budget or savings to keep life in order? With a financial crisis dropping on you full force, your first instinct might be to readily get crushed under the weight. After all, it seems like such a hopeless situation.

Well, it is not. Your mindset can be your biggest tool to recovery if you keep it positive. Tell yourself that you are capable of handling this stressor. Promise yourself you will find a solution to keep you afloat. Keep a mantra in your head and repeat it to yourself daily. A positive pep talk can keep you going without giving up.

Cut Down On Spending

It's a no-brainer that in the midst of a financial emergency, you do not have much money to spend. But you still have expenses. Your next step should be to find areas of your spending that can be eliminated completely or at least reduced. Try to bring down the electricity bill by lowering usage. Cancel any monthly tv subscriptions like Netflix or Hulu. Try managing your grocery better by looking for cheaper alternatives.

Once you start actively looking at these options, you will find there are many possibilities. And even cutting down little by little can end up into an adequate savings to help you in a financial emergency.

Ask For A Pay Raise

Now is the time to talk to your employer about increasing your salary. If possible, try to renegotiate your contract. Just remember to be confident, talk about why your request is valid, and have the specific increment amount in mind.

Start A Side Business Or Get A Part-Time Job

One way to keep the stress at bay is by starting a side-hustle. This will not only keep you distracted, but can also be a positive way to get things going in the right direction. You will not only earn some extra cash, but it will also add to your emergency fund.

Let Title Loans Help Out

Sometimes there can be so much financial stress and pressure at a certain time, that you need cash immediately. This is where title loans come in to save the day. A completely safe and convenient way to make ends meet, title loans online let you avail money quickly.

What makes this a particularly good solution is that your car’s title is the only collateral used for this loan. Even though the title is being used, you can also keep using your car while you are sticking to the repayment schedule on time.

 

financial stress emergencies

 

Advantages Of Title Loans

There are plenty of advantages to using title loans. One being the fact you don’t lose your transportation. How terrible would it be if the solution to your financial emergency also meant you temporarily losing your vehicle? You don’t have to worry about that with title loans in Tennessee.

Another advantage is how quick and easy our process is. With more traditional loans, you could wait for days or even weeks to learn if you’ve been approved and have the money. Getting a title loan here is easy and hassle-free. In fact, you can easily begin the process online by simply filling a form. This procedure should take only 30 minutes and does not require a lot of paperwork. If you are facing an emergency, you can even get the payment on the same day – if we are able to approve you!

Our third advantage deals with your credit. While most lenders require an extensive background check and credit history, title loans are different. We won’t turn you away due to a poor credit score. With other forms of financial assistance, your credit plays a big role. If you are stuck with a poor credit, that could put up some huge red flags to lenders. We at Tennessee Title Loans will not automatically deny you because your credit may or may not be in good condition.

How To Get A Title Loan

Thinking of getting a title loan but not sure what the process entails? Check out our process:

  • Start by filling out our short online form on the homepage;
  • We will give you a call when we get your form to confirm your information and walk you through the rest of the process;
  • Then you can head to your nearest Tennessee title loans locations. Make sure to bring your ID, vehicle’s lien-free title, and vehicle with you;
  • A loan rep will then sit down with you and review your items. They will also inspect your vehicle to determine how much you qualify for;
  • If you are able to get approved, you will learn all the loan terms and, once you fully understand and agree, sign the agreement. Once the paperwork is signed, you will get the cash.