A flat tire. A leaking water heater. A surprise medical bill.
These are the kinds of emergencies that can throw your finances off track, and they’re more common than you think. According to the Federal Reserve, nearly one in three adults would struggle to cover a $400 emergency expense without borrowing money or selling something.
If you’re not sure how you’d handle an unexpected expense, you’re not alone—and you can take steps now to prepare before life throws you a curveball.
What should you do when an emergency happens?
Pause and assess.
Before reaching for a credit card, get clear on the exact cost and urgency. Some expenses can wait, or payment plans may be available, reducing the immediate financial hit.
Check your budget.
Look for expenses you can pause, even temporarily. Skipping takeout or streaming subscriptions for a month could free up funds to help manage the emergency.
Use your emergency savings if you have it.
Even a small emergency fund can keep you from relying on high-interest debt during an unexpected situation.
What if you don’t have savings yet?
Many hardworking people are still building an emergency fund, and emergencies don’t wait until you’re ready. In these cases, it’s important to know your options so you don’t get trapped by high-interest credit cards, payday loans, or overdraft fees that create more financial stress.
One option: The Just Ask Loan
At PostCity Credit Union, we created the Just Ask Loan for moments like these. It’s a small-dollar loan, up to $3,000, with a short term to help you cover emergency expenses and repay in a manageable way.
If you’re faced with an urgent car repair, medical bill, or another unplanned cost, you don’t have to feel stuck or alone. The Just Ask Loan is here to help you navigate the situation without falling into a cycle of expensive debt.
Emergencies will happen. The key is having a plan. Start your emergency savings when you can, review your spending regularly, and know your options before you need them.
And if life happens before you’re ready, remember—you can Just Ask.
Learn more about the Just Ask Loan here.
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