I NEED FINANCIAL HELP RIGHT NOW: WHAT YOU NEED TO DO WHEN YOU NEED FINANCIAL HELP IMMEDIATELY AND SAY A PRAYER FOR IMMEDIATE FINANCIAL HELP WHILE YOU ARE AT IT

I need financial help right now: Introduction

Nobody expects their home to be destroyed or to receive a serious disease medical diagnosis. When emergencies like these do occur, unexpected expenses lead to economic tension. You’re forced to see the bills consume up any financial savings you might have had. You will no doubt be saying “I need financial help right now”.

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The good news is, there are resources for people as well as families who need emergency economic aid. For people and households that typically aren’t qualified for aid from the government or nonprofits, perhaps crowdfunding can help you secure the reserve you need.

I need financial help right now: Most Canadians can’t save

No person likes to think they will need emergency financial support. The Canadian Payroll Association’s NPW 2016 Employee Research Survey Results discovered that of those surveyed:

• three-quarters have saved 25% or less of their retirement goal
• few of those trying to save can do so
• about half of employed Canadians are living paycheque to paycheque
• those who can save, continue low savings of 5% or less of pay
• over one-third feel overwhelmed by debt

“I need financial help right now” is not a pleasant place to find yourself in. If you aren’t saving for an emergency, you could rapidly become mired in debt.

You cannot expect when something might take place. Having monetary support throughout an emergency could bring peace of mind. Try to keep at the very least 6 months of living expenses or revenue in your emergency fund.

I need financial help right now: What to do if you find yourself in an emergency

Begin your savings program by conserving tiny bits from your spending every day.

I want to give some ideas on the best ways to handle an economic emergency:

1. Don’t panic

If you begin stressing, you might begin to make even worse monetary decisions. Think logically about what you need to do and your following steps. If you’re still not sure what to do discover somebody that understands just how to deal with such emergencies. Tell them “I need financial help right now” so they understand how severe your emergency is. Find that special someone you can trust and tell them everything.

2. Know your Priorities

See to it to prioritize your expenses. Only spend on the necessities of life, like food, living accommodations and basic clothing. I suggest that you produce a budget overview to help you plan your spending. Surviving a financial emergency can be made harder if you do not prioritize your costs.

3. Begin to Spend Less

With an excellent budget plan, you’ll realize what you need and do not need in your life. Say goodbye to spa days and say goodbye to dining in restaurants with pals. Reducing things that look like tiny expenditures really has a big influence later down the line.

Do not throw away cash on things you really do not need. If you know your priorities and can properly budget, “I need financial help right now” may just turn into “It will be tough but I can survive this emergency because I have savings”.

4. Request for Help!

It’s fine to ask when you need it, especially in a scenario where you cannot face your costs alone. Perhaps family or close friends could also be able to help you fundraise to get out of your debt problems.

You may have a great relationship with your banker. Explain to him or her your situation and perhaps your bank can help you. Before you say to your banker “I need financial help right now”, make sure you have prepared your budget. Your banker will want to understand how the bank is going to get repaid.

One thing you must not ever do. Do not borrow from a payday loan company or through a debt consultant. The interest rate and fees are so high, you will never be able to repay it in full.

I need financial help right now: Entitlement programs

Emergency help programs are hard to qualify for and often take months to supply repayment. They rarely can help you when you say to them “I need financial help right now”. However, I do want to give you a list of some emergency programs that are available from the government.

There are various assistance programs offered by the City of Toronto and the Province of Ontario providing financial help for families in need. Some resources to get access to are:

• City of Toronto Human Services Division – Children, employment, housing, medical and health programs.
• TorontoCentralHealthLine.ca – Financial help is available to help pay rent and utilities so people can stay in their homes.
• Canada Mortgage and Housing Corporation – Did you know that CMHC invests $2 billion a year to help Canadians find quality, affordable homes?
• Ontario Ministry of Community and Social Services – If you qualify, Ontario Works can give you money to help you cover the costs of your basic needs (e.g. food) and housing costs. This is called financial help.

I need financial help right now: Nonprofits offering emergency financial help

There are many charities and not for profit organizations in the Greater Toronto Area and Ontario. Each one focuses on a different need or group of people. You should not overlook the role a charity or not for profit organization can play to help you through a financial emergency. Again, they can’t solve all of your problems all at once when you tell them “I need financial help right now”. But they are there to serve needy people and families facing a financial emergency.

I need financial help right now: What happens if you aren’t eligible for assistance programs?

Government assistance and nonprofit programs often have a lengthy application procedure and certain eligibility criteria. As well, it can take months to get support. Which makes it difficult to get economic aid immediately. Many times they cannot act fast enough when you tell them “I need financial help right now”.

There is one more source that could aid you to receive emergency funds quickly.

I need financial help right now: Crowdfunding may work for your needs

In times of economic stress, crowdfunding has shown in some cases to be a powerful tool that assists people to get the help they need. Many got help through a crowdfunding plea of “I need financial help right now”. You cannot plan for when you’ll be confronted with an emergency, or just how expensive it will be to recover from it. But you could use crowdfunding to discover support from people who sympathize with exactly what you are going through.

Take the time to acquaint yourself on your own with the various crowdfunding platforms.

I need financial help right now: What to do if you have too much debt

We hear many times “I need financial help right now” or “I need financial help immediately”. If that emergency arises and you have not planned for it and saved, your options are very limited.

Act before you find yourself in the throes of an emergency and financial crisis. Ira Smith Trustee & Receiver Inc. has helped many Canadian companies and people throughout the Greater Toronto Area (GTA) dealing with the economic crisis that needs a plan for Starting Over, Starting Now. Don’t delay. Give us a call today. Financial troubles can be solved with prompt activity and the ideal plan tailored just for you.