How to Get Temporary Financial Help

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Get temporary financial help by asking relatives for loans, selling personal assets or taking out a temporary loan. Avoid taking temporary loans from banks or relatives unless you anticipate getting back on your feet relatively quickly with advice from a registered financial consultant in this free video on personal finance.

Part of the Video Series: Personal Finances & Money Management
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Video Transcript

This is financial adviser Patrick Munro talking about how to get temporary financial help. If an individual finds themselves in a spot financially that they need financial help, there are various avenues in which to consider. One of the most popular avenues is to get in touch with relatives that are not in a financial situation and based on your relationship with them, they can give you a bridge loan to get you over a rough spot. If that's not available to you, you can basically look at some of your assets that you currently have and if they're salable, try to sell those assets to raise cash. That is also a temporary financial situation as well. You don't wish to sell the asset and is free and clear you can get a bridge loan or if it's a car, a title loan to bridge you over that as well. Temporary financial help means that you're anticipating getting back on your feet in a short period of time so if you have incurred a loan during this period of time, you would anticipate paying it back once you get on your feet. This is Patrick Munro, financial adviser talking about the various ways to help temporary financial help.


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