If you were in desperate need for money.... - page 101.

gkv9

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Quote from: agustina2 on September 29, 2016, 01:19:53 PM

Quote from: gkv9 on September 29, 2016, 01:04:09 PM

If I were in desperate need for money, I sometimes used to try to get loans for some extremely terrific conditions that I suffered from... I know that's not a way to get out of this, so I even try to sell some stuff here and try to earn something with which I get a living...

It's not mistake to test and try all the possible options to get money legally if ever people really needs money. In the times of desperation, no need for being a shy one.

What important is, people must able to pay the borrowed money on a given terms so that their image will not be worst and next time they borrow, they will be trusted.

I can understand what did you try to say... The only problem was, I was stuck in a situation in which I pray to God that no one should ever be...
I tried my level best to repay, but was unable as I was not even getting a real life job... I am thankful to my lenders who gave me the money when I needed it the most, else I had nothing to do but to sell my home itself and that's what most people do when they are in some extremely worst conditions and are desperate to get something managed anyhow...

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Quote from: onelove2111 on October 01, 2016, 03:47:01 AM

If you urgently need money tedious to sell liquid assets. If not, you should try to earn. If this does not work, then take the debt. But this is an emergency

Working will do to earn, but since this is really looks like an emergency coz "desperate" almost mean to do it quick, then borrowing will always be your very good way, and your assets will always be the one that will save you, you could use them as collateral or if you want it quicker pawn them all just suffer the high interest that those pawnshops will add...

onelove2111

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If you urgently need money tedious to sell liquid assets. If not, you should try to earn. If this does not work, then take the debt. But this is an emergency

mace15

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All of us here, experience of in desperate need for money.
But no one wants to experience this thing. In time of this,
I would rather ask help to my friends and family. Ill ask my family
then to lend me some money. Better to have a savings, in time
of emergency you have some to spend on.
"Everyone wants nothing when money is not a matter"

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Quote from: milewilda on October 01, 2016, 01:24:47 AM

Quote from: bamboylee on October 01, 2016, 12:37:31 AM

Quote from: socks435 on September 30, 2016, 12:45:20 PM

Quote from: serjent05 on September 30, 2016, 12:34:32 PM

Quote from: bamboylee on September 30, 2016, 03:42:05 AM

Quote from: Doms on September 29, 2016, 06:51:24 AM

That is why emergency funds shouldn't be taken for granted and not be considered as optional. We should be able to build an emergency fund that is equivalent to 3 to 6 months of what we spend. Better if we can make it bigger so that when the time comes that we are in dire need of money, there is some emergency fund on standby. And even if it is not enough, that should serve as a first aid.

Some say it will be idle money because it will just be sitting in your bank account without earning money. But emergency funds are life savers. Everything else in life can be planned but emergencies cannot. Emergency funds answer for those needs.

I agree savings are savings and can be called emergency fund if things went wrong and needed money for it. But if you have savings then you will be not in desperate need of money because you already have the fund for your need. So it wont force you to borrow money from bank or other people which most people who don't have reserve fund actually do when in need of money.

But not all people have savings if they are disperate the only thing that they can do is to borrow money to others. or they can also borrow a loan in banks but only people who has job that can take loan..

As long as you have a good collateral for your loan, the bank will give you a loan. But it is not the best option because banks puts large interests on your loans. That will put you in a greater debts even if you missed just one pay.

Yes, banks would intend to give you a loan especially when you have a good collateral like house, lot, car and other valuable things. As you said the main problem here on borrowing into banks is the high interest that they put on your loan which is somehow a drawback for us when we intend to borrow from them.

No, not really.. Banks do provide that smallest interest compared to other lending institution. Banks are guided by the rules of the central bank and they cannot just offer big interest nor impose a big penalty, the state wants them to operate in a transparent way for the benefits of their clients.

milewilda

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Quote from: bamboylee on October 01, 2016, 12:37:31 AM

Quote from: socks435 on September 30, 2016, 12:45:20 PM

Quote from: serjent05 on September 30, 2016, 12:34:32 PM

Quote from: bamboylee on September 30, 2016, 03:42:05 AM

Quote from: Doms on September 29, 2016, 06:51:24 AM

That is why emergency funds shouldn't be taken for granted and not be considered as optional. We should be able to build an emergency fund that is equivalent to 3 to 6 months of what we spend. Better if we can make it bigger so that when the time comes that we are in dire need of money, there is some emergency fund on standby. And even if it is not enough, that should serve as a first aid.

Some say it will be idle money because it will just be sitting in your bank account without earning money. But emergency funds are life savers. Everything else in life can be planned but emergencies cannot. Emergency funds answer for those needs.

I agree savings are savings and can be called emergency fund if things went wrong and needed money for it. But if you have savings then you will be not in desperate need of money because you already have the fund for your need. So it wont force you to borrow money from bank or other people which most people who don't have reserve fund actually do when in need of money.

But not all people have savings if they are disperate the only thing that they can do is to borrow money to others. or they can also borrow a loan in banks but only people who has job that can take loan..

As long as you have a good collateral for your loan, the bank will give you a loan. But it is not the best option because banks puts large interests on your loans. That will put you in a greater debts even if you missed just one pay.

Yes, banks would intend to give you a loan especially when you have a good collateral like house, lot, car and other valuable things. As you said the main problem here on borrowing into banks is the high interest that they put on your loan which is somehow a drawback for us when we intend to borrow from them.

bamboylee

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Quote from: socks435 on September 30, 2016, 12:45:20 PM

Quote from: serjent05 on September 30, 2016, 12:34:32 PM

Quote from: bamboylee on September 30, 2016, 03:42:05 AM

Quote from: Doms on September 29, 2016, 06:51:24 AM

That is why emergency funds shouldn't be taken for granted and not be considered as optional. We should be able to build an emergency fund that is equivalent to 3 to 6 months of what we spend. Better if we can make it bigger so that when the time comes that we are in dire need of money, there is some emergency fund on standby. And even if it is not enough, that should serve as a first aid.

Some say it will be idle money because it will just be sitting in your bank account without earning money. But emergency funds are life savers. Everything else in life can be planned but emergencies cannot. Emergency funds answer for those needs.

I agree savings are savings and can be called emergency fund if things went wrong and needed money for it. But if you have savings then you will be not in desperate need of money because you already have the fund for your need. So it wont force you to borrow money from bank or other people which most people who don't have reserve fund actually do when in need of money.

But not all people have savings if they are disperate the only thing that they can do is to borrow money to others. or they can also borrow a loan in banks but only people who has job that can take loan..

As long as you have a good collateral for your loan, the bank will give you a loan. But it is not the best option because banks puts large interests on your loans. That will put you in a greater debts even if you missed just one pay.

Zooplus

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Quote from: botany on September 30, 2016, 11:10:53 PM

Quote from: krishna1 on September 30, 2016, 01:24:54 PM

i dont know i will tty to increase my working time ofcourse that will also increase my frustation but i will get more mney by yhis and if the needing more is 10-20times bigger than my workpay then i will ask my famiy or my friends

Unfortunately, for most people unpaid overtime is a reality.
Hence increasing the number of working hours just doesn't help

That is because there are companies that violate the laws and take advantage on the under employment in a certain country, if you are an employee you would not complain anymore because your job is really important to you and you do not want your boss to dislike you.

botany

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Quote from: krishna1 on September 30, 2016, 01:24:54 PM

i dont know i will tty to increase my working time ofcourse that will also increase my frustation but i will get more mney by yhis and if the needing more is 10-20times bigger than my workpay then i will ask my famiy or my friends

Unfortunately, for most people unpaid overtime is a reality.
Hence increasing the number of working hours just doesn't help

krishna1

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i dont know i will tty to increase my working time ofcourse that will also increase my frustation but i will get more mney by yhis and if the needing more is 10-20times bigger than my workpay then i will ask my famiy or my friends

agustina2

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Quote from: Positid on September 30, 2016, 10:03:20 AM

Quote from: agustina2 on September 30, 2016, 05:31:46 AM

Quote from: freedomgo on September 30, 2016, 04:48:14 AM

There will be nothing better that you family because they understands better, if they can lend you money then it's good because they will not pressure you to pay right away but do not abuse them, you also need to pay as agreed.

And in the times that people needs money again, they can easily get help to those persons they asked for a loan if ever they have a good record of paying back the loan without any problem.

That is the problem sometimes by some of the persons, they didn't able to pay back the loan on the agreed time that's why next time they needed it, they really goes in a hard process before they can able to get another loan.

We should always remember that, we should maintain our credibility so in times of desperate needs of money we will be able to make a loan from a certain person or from a business establishment, even those businessman, reputation is very important to them because that is there ticket to borrow a good amount of money for expansion of their business or additional capital.

Exactly. Even big persons are doing loan up to now but they are not giving dirt to their names just because of a loan.

So an average joe can do it also. So in times of desperation of money and someone lend us a help, we must pay the debt according to terms. If in the cases that they didn't able to make it to right time, talk to the lender and not just ignored it. Lender likes an update rather than a silent response.

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Quote from: serjent05 on September 30, 2016, 12:34:32 PM

Quote from: bamboylee on September 30, 2016, 03:42:05 AM

Quote from: Doms on September 29, 2016, 06:51:24 AM

That is why emergency funds shouldn't be taken for granted and not be considered as optional. We should be able to build an emergency fund that is equivalent to 3 to 6 months of what we spend. Better if we can make it bigger so that when the time comes that we are in dire need of money, there is some emergency fund on standby. And even if it is not enough, that should serve as a first aid.

Some say it will be idle money because it will just be sitting in your bank account without earning money. But emergency funds are life savers. Everything else in life can be planned but emergencies cannot. Emergency funds answer for those needs.

I agree savings are savings and can be called emergency fund if things went wrong and needed money for it. But if you have savings then you will be not in desperate need of money because you already have the fund for your need. So it wont force you to borrow money from bank or other people which most people who don't have reserve fund actually do when in need of money.

But not all people have savings if they are disperate the only thing that they can do is to borrow money to others. or they can also borrow a loan in banks but only people who has job that can take loan..

serjent05

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Quote from: bamboylee on September 30, 2016, 03:42:05 AM

Quote from: Doms on September 29, 2016, 06:51:24 AM

That is why emergency funds shouldn't be taken for granted and not be considered as optional. We should be able to build an emergency fund that is equivalent to 3 to 6 months of what we spend. Better if we can make it bigger so that when the time comes that we are in dire need of money, there is some emergency fund on standby. And even if it is not enough, that should serve as a first aid.

Some say it will be idle money because it will just be sitting in your bank account without earning money. But emergency funds are life savers. Everything else in life can be planned but emergencies cannot. Emergency funds answer for those needs.

I agree savings are savings and can be called emergency fund if things went wrong and needed money for it. But if you have savings then you will be not in desperate need of money because you already have the fund for your need. So it wont force you to borrow money from bank or other people which most people who don't have reserve fund actually do when in need of money.

Spirit2016

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Quote from: groll on September 30, 2016, 11:40:04 AM

Quote from: Samadur on September 30, 2016, 10:57:04 AM

You can borrow from friends. Go get credit in the bank. If not, then you can sell the car or other valuables

Yes, it is pretty easy to say to loan on the bank or sell cars and your valuables. But you should not look forward on things like that. Selling your car or go to the bank because the amount you borrow can be prevented if you have a good financial management. And the fact that they will give some fees and interest is not a good thing

If I need money for a short time, you can go to the credit unions. Often, many people are willing to borrow money in a minute against a receipt because that urgently need to buy something or somewhere to pay.

groll

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Quote from: Samadur on September 30, 2016, 10:57:04 AM

You can borrow from friends. Go get credit in the bank. If not, then you can sell the car or other valuables

Yes, it is pretty easy to say to loan on the bank or sell cars and your valuables. But you should not look forward on things like that. Selling your car or go to the bank because the amount you borrow can be prevented if you have a good financial management. And the fact that they will give some fees and interest is not a good thing

randy8777

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Quote from: StarofBTC on September 30, 2016, 11:11:43 AM

Quote from: Samadur on September 30, 2016, 10:57:04 AM

You can borrow from friends. Go get credit in the bank. If not, then you can sell the car or other valuables

Usually in the times of emergency need of money, I go for pledging gold ornaments. Because that will be a better way of getting money other than borrowing from friends. I really do not want to disturb my friends for money related things. So, I always prefer to go with gold loans for emergency money needs.

selling stuff in times where you need money is the best and first option you should think of. at second comes asking friends or familiy for a loan that you can pay back 1:1. taking loans from banks is something you should avoid at all times. that will most likely push someone even further into the hole. making use of a pawnshop for certain things require you to pay interest.

StarofBTC

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Quote from: Samadur on September 30, 2016, 10:57:04 AM

You can borrow from friends. Go get credit in the bank. If not, then you can sell the car or other valuables

Usually in the times of emergency need of money, I go for pledging gold ornaments. Because that will be a better way of getting money other than borrowing from friends. I really do not want to disturb my friends for money related things. So, I always prefer to go with gold loans for emergency money needs.

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Quote from: Samadur on September 30, 2016, 10:57:04 AM

You can borrow from friends. Go get credit in the bank. If not, then you can sell the car or other valuables

The big question is? Do you own a car? Do you have a stable job? Do you have another things that are valuable? If none then you would really have a hard time on asking some loan its either on banks or on lending firms since they would surely ask for collaterals and other capabilities to repay of such loan.

Samadur

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You can borrow from friends. Go get credit in the bank. If not, then you can sell the car or other valuables

Positid

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Quote from: agustina2 on September 30, 2016, 05:31:46 AM

Quote from: freedomgo on September 30, 2016, 04:48:14 AM

There will be nothing better that you family because they understands better, if they can lend you money then it's good because they will not pressure you to pay right away but do not abuse them, you also need to pay as agreed.

And in the times that people needs money again, they can easily get help to those persons they asked for a loan if ever they have a good record of paying back the loan without any problem.

That is the problem sometimes by some of the persons, they didn't able to pay back the loan on the agreed time that's why next time they needed it, they really goes in a hard process before they can able to get another loan.

We should always remember that, we should maintain our credibility so in times of desperate needs of money we will be able to make a loan from a certain person or from a business establishment, even those businessman, reputation is very important to them because that is there ticket to borrow a good amount of money for expansion of their business or additional capital.

Topic: If you were in desperate need for money.... - page 101. (Read 209030 times)