Are you prepared for an unexpected financial emergency? If you are not, your financial situation can take a drastic hit. The added costs of an expensive home repair, car repair, or medical emergency can severely damage your finances. If you haven’t already, you need to begin preparing for this type of eventuality. There are a number of things you can do to plan ahead.

• Keep a credit card with a zero balance.

Credit cards can get you into trouble financially, but they can also save you in a time of need. Keep one card set aside for use only in an emergency. Do not use it for any other purpose. You may need to keep it updated. If you do not use a card for extended periods of time, the creditor may cancel your account. If necessary, you may have to make a small purchase and pay it off right away just to keep the card active.

• Build a savings account.

Every household should have a savings account just for emergencies, with approximately three to six months’ worth of expenses. Saving is challenging and saving an amount equal to six months of outgoings can be a challenge, but start now. Build the account and do not use it for anything other than an emergency.

• Make arrangements with a family member or friend.

If you have a family member or friend who can afford to help in times of emergency, take advantage of an offer to help. The key to borrowing from a friend or relative is to take the loan seriously and pay it back as you would any loan from a financial institution. If you do not, you run the risk of damaging a long-term relationship.

• Consider fast loan options.

In an emergency, you need access to cash quickly. Traditional bank loans simply take too long to process. Quick loan alternatives and a car title loan are some of the best. Embassy Loans has helped tens of thousands of customers reap the benefits of an auto title loan, one of which is the processing time. Embassy Loans can complete a car title loan in as little as an hour. There are no credit checks, which helps to speed up the process. Embassy Loans can get you the cash you need to deal with your emergency.

Being prepared in times of a financial crisis certainly pays off. If you have not already, start building an emergency fund and sign up for a credit card that you will keep on hand only for use in a time of need. If you need a quick solution, Embassy Loans can always help with a car title loan.