Life during pandemics can be unpredictable. Whether you’re able to set aside an emergency fund or not, you’re likely to experience financial constraints at some point. If you find the challenges that come your way a burden, you’re not alone.  

Luckily, there are different ways to get your finances on the right track. If you want to move forward, here are several ways to help you handle financial emergencies in the best way possible. 

  1. Think Carefully Before Making Any Big Decisions 

Any type of financial emergency can be stressful. The resulting financial anxiety can affect a person in various ways. When you’re in this situation, it’s best to take time to pause and think through your current situation before acting since it may help you move forward.  

Always remember that the actions you take at the moment might result in lasting consequences on your finances and credit history. If possible, it’s best to consult a qualified financial adviser to discuss your current situation. Working with an expert can help you determine what to do during a financial crisis and how to create a strategic plan.  

  1. Apply For A Direct Lender Loan 

If you’re facing a financial emergency, a direct lender loan can be an option. An advantage of a direct lender loan is the availability of lenders that don’t work through intermediaries. 

A loan might be an option if you’re facing a financial emergency and in need of immediate cash. Before making any moves, do your research to find a reputable provider. If you’re interested in this option, checking out direct lenders online would greatly help. 

  1. Call Your Credit Card Company 

Contact your credit card provider when you can’t keep up with the payment of your credit card bills during a financial emergency. It’s crucial to note that credit card companies work daily with clients who struggle to pay their bills. Depending on your current financial status, you might get relief in the form of flexible arrangements or payment extensions. With this approach, you can avoid late payments that can adversely affect your credit score.  

Additionally, your credit card might come in handy in paying for unexpected expenses or cover your essentials. If you’re going to utilize your credit card for emergencies, make sure you use it responsibly. 

Hand of Young women putting Coins in a glass jar on the table. Saving for emergency concept.
  1. Assess Your Expenses  

Figuring out how much you spend and when you can save will make it easier for you to face any financial ordeals such as unforeseen expenses or lost income. Here are steps on evaluating and cutting down on your costs:  

  • Evaluate your spending habits for the past two or three months. It can provide you with a clear view of how much you usually spend and where your money is going. You can note down all your expenses or create a list on your phone.  
  • Categorize your list into essentials and extras. The essential needs should include the basics such as food, housing, and utilities. For the extras, you can list down takeout orders or streaming services. 
  • Find ways to limit your expenses. Knowing how much money you need for the essentials can help you decide on where you can save.  

Even if you have small savings, it’ll grow over time and improve your overall financial status.  

  1. Maintain A Positive Mindset 

During a financial crisis, you don’t want to end up in a state of panic. Some people become upset or feel discouraged when an unforeseen financial emergency arises. Sadly, reacting in such ways will only heighten your stress levels and make your situation worse.  

Depending on the emergency you’re facing, you should try to stay calm and collected so you’ll have the right mind frame necessary to evaluate your situation and decide on ways to fix it.  

  1. Ask For Help 

If other options fail to work, you can consider asking for help from your family or friends. Although it’s not the ideal choice for most, it can be the best option when you’re facing an emergency. Remember, though, that borrowing money from family and friends is likely to place a strain on the relationship, so you need to pay back what you owe as soon as possible. With this in mind, you may wish to create a promissory note, (you can read up on a promissory note definition here), to outline the loan amount and payment terms, so that everyone concerned is fully aware of the terms and conditions. This can also help to avoid any confusion later on down the line. 

  1. Start A Side Hustle  

When you’re facing a financial emergency, you might want to consider starting a side hustle to earn extra income and build up your emergency fund. With the help of technology, you can begin a hustle you love. It’s an excellent option to consider since it allows you to earn extra money while also keeping you ready in case a financial crisis occurs in the future. 


Financial emergencies can occur when you least expect them. If you’re struggling with an unforeseen event that’s straining on your finances, there are ways to help you cope. These valuable tips will serve as a guide when facing a financial emergency. With the right mindset and resolve to pull yourself out of the ordeal, you’ll put your finances back on the right path over time.