Too many people are unprepared should they face a serious financial crisis. That is why it is important to begin preparations to handle such an emergency. To get through times such as a job layoff, there are a few things that one should have in place. A savings account with the equivalent of six months’ worth of expenses is the first step. Should you lose a job, this emergency fund will allow you to pay all your bills without earning a dime.

Another item you should have on hand is a credit card with a zero balance. The credit card is kept solely for one purpose, and that is an emergency. Like the savings account, the credit card can help you navigate a tough financial situation. The other thing you can do to prepare for a financial emergency is to find a title loan lender like Embassy Loans ahead of time.

Embassy Loans has helped tens of thousands of customers obtain cash in emergencies. If you own a vehicle, it is possible that you can use it as collateral to complete a car title loan. It’s feasible to process these loans very quickly, and borrowers can have their hands on their money within an hour. The process starts by filling out an application, which takes just minutes to finish. After applicants provide proof of identity and residency, Embassy Loans assesses their vehicle for its value. The loan documents are drawn up, and borrowers then gain access to their money. The loans are not based on credit either.

Building a savings account can be difficult, especially six months’ worth of expenses. Still, you should attempt to establish such an account. Turning to your savings account in times of financial emergency is an ideal solution. Credit cards are an easy emergency solution. Depending on how high your credit limit is, you might be able to make it through several months without having to rely on other means. The problem with the emergency credit comes when you must pay the bill. It may take some time to repay the card.

Regarding cost, using credit cards and car title loans will cost more than using a savings account. When faced with a financial emergency, though, the cost is relative. Realistically, in times of a financial emergency, you may find that you get through the situation using some combination of savings, credit cards, and loans.