In the US, only 39 percent of us could cover a $1,000 emergency-room visit.

When an emergency strikes, this worrying statistic can cause personal disaster. But, luckily, there are ways you can stump up some cash.

Do you need to get cash now, but don’t know where to turn? You’ll need to know your options and quickly. Here are eight ways to successfully raise funds in an emergency.

1. Ask Family and Friends

When you’re faced with an emergency, pride is not your friend. Turn to those who you know and love to help raise funds.

You may be surprised to find that, during an emergency, friends and family and the first and happiest to help you out. Of course, it’s a good idea to draw up a contract so that your friends or family will know how and when they’ll get their money back.

Don’t borrow more than you can afford to pay back and try to avoid asking friends who desperately need the cash themselves.

Unfortunately, friends and money don’t often mix well. So, do everything you can to avoid this situation from turning sour.

For example, pay your friend back in smaller sums and don’t use their cash for anything other than the emergency. Don’t plan a holiday when you haven’t paid them back!

2. Assess Your Outgoings

If you’re facing an emergency, it’s time to cut all of your outgoings and live on a very tight budget. Assess where your money is going, can you hold off from paying into your pension fund for a month or your student debts?

Perhaps you pay for a couple of huge phone bills which can be cut off. These expenses can save you money which can be used for an emergency.

Of course, this won’t raise a huge amount of money but going into frugal mode can help you avoid taking out a personal loan which is difficult to pay back.

This step isn’t necessary for many to take but it’s one to keep in mind as being frugal when an emergency isn’t looming can help you save money for next time.

3. Take Out a Personal Loan

After being completely sure that you can’t stump up the cash on your own from cutting your expenses, it’s time to consider a personal loan.

You have many options here so doing your research is necessary, even when you are in the thrawls of an emergency.

Do you need monthly payment loans? Where is it possible to get a loan with your credit score? These are important questions to consider.

4. Use a Credit Card Cash Advance

This is one of the most expensive credit card transactions you can choose. However, sometimes it is necessary.

Make sure you get in contact with your credit card company to learn how much a withdrawal with cost you.

You could be looking at a large amount of interest. But, if you can meet the minimum requirements for repayment, you may not damage your credit rating.

There will be an advance limit which you should also find out before you reach the ATM. You can find out this limit information by checking your credit card statement.

5. Research Payday Loans and Alternatives

If you believe you’re in a tight spot which you can get out of within the next month, then a payday loan could be a viable option for emergency cash.

However, remember that you’ll need to pay back your loan within a few weeks, which isn’t much time at all and you’ll be charged a fee.

You’ll find that this method is easier to get money from than a traditional loan as you don’t need good credit and may not even be checked. But, this is because payday loans are more expensive than regular loans.

If you have ongoing financial issues, this option is not for you. But, if you find yourself stuck for cash which you KNOW you can pay back, it could be an option to consider and you’ll have to take the hit for borrowing.

If you use this as a long-term strategy, you will find yourself in a lot more debt than you even started with. Don’t take this option lightly.

6. Ask Your Employer for a Payday Advance

If you are currently in work, you can avoid an expensive payday loan by asking your employer for an advance.

This may involve explaining your emergency situation, which you may not feel comfortable doing, but it could save you money in the long run.

The benefit of doing this is that you won’t be stuck in a loan trap and instead will be able to avoid high fees.

If the reduced wage for next month will cause problems for you, then discuss with your employer the possibility of repaying the advance over multiple paychecks.

You could also offer to work overtime in order to boost your paycheck for the next month.

7. Increase Your Ingoings

As well as reducing your outgoings, this is the time to get sell everything valuable that you own. You can use eBay, Craigslist, and Facebook to make a quick buck.

If you don’t want to sell your things for good, consider pawning them. Of course, this is only an option if you have valuable items.

You may want to consider a yard sale, if you have time, to raise funds for items which are unlikely to be quickly sold online.

Another option is to rent out a room in your apartment and move in with your friends or family for a short time. Consider Airbnb for this.

If you own a car, you could also consider driving people around on Uber for some extra cash. Don’t have a car? Try pet sitting or dog walking instead.

Need to Get Cash Now? Get Creative to Avoid Debt

Of course, sometimes an emergency strikes and it’s essential to get as much cash as quickly as possible. But, other times an emergency may be impending but cash can be stumped up without turning to risky solutions such as a payday loan.

Assess your situation carefully before you risk taking on a large amount of debt simply to quickly get cash now.

When your personal emergency has passed, now is the time to assess your finances and build up an “emergency pot” of money for the future. Here are our top ways to save.