In the midst of this pandemic, of course, we all realize that an emergency fund is something important. However, not everyone has sufficient emergency funds. One of the quick ways to get emergency funds in a short time is through a fast loan. Besides that, what else can be done?
Basically, an emergency fund itself is different from savings or investments. You should set up a separate budget for an emergency fund. As the name implies, this fund is useful for meeting urgent or unpredictable needs. For example, job losses, natural disasters, health costs, and other disasters. Ideally, an emergency fund should account for 6 to 12 months of your expenses.
But if you haven't set up an emergency fund, don't worry. There are 3 ways you can do to get funds in a short time. One of them is through fast loans. Come on, see the full review!
Selling Property
If you have valuable possessions, then selling your possessions can be the first thing you can do to get an emergency fund. For example jewelry, vehicles, and so forth. You can sell or pawn these valuable assets.
After getting an emergency fund from selling or pawning your property, remember to manage the money well and not to waste it on something unnecessary.
Small Side Business
The second way you can do this is to run a small business from home. There are businesses that do not require a lot of capital. Today, many businesses can be run online. For example, becoming a reseller of clothes, shoes, bags, or whatever. It is enough to use gadgets and social media accounts or online marketplaces.
You can also offer skills or work that you have through freelance sites. For example, writing skills, photography, design, and so on. In a month, you can pocket around IDR 2-3 million which can be saved as an emergency fund.
Take advantage of Trusted Fast Loans
The third step you can try is to take advantage of a trusted fast loan. However, even if you apply for a loan in an emergency, be careful and don't be careless in choosing a place to borrow. Make sure that the tenor, interest, and loan ceiling offered is in accordance with your abilities and needs. In addition, choose a loan place that is trusted and supervised by the OJK.
You can apply for a trusted fast loan at BFI Finance. With a low flat rate interest, you can get loan funds in a short time to meet your various financial needs.
Those are the various ways you can do to get emergency funds during a pandemic. Hope it is useful!