Financial emergencies can happen to anyone, no matter how much you plan or work. The good thing is that if you’re in financial trouble, there are a few things you can do, and the following are five tips that could help.

1. Make a Few Calls

The first thing you want to do if you’ve hit a financial emergency is talk about it. Often, people who are going through a financial crisis tend to keep it to themselves. Sharing something like this is scary, and people feel embarrassed about it. Truth be told, it seems like this society vilifies people who fall on hard times. You’re going to have to call your credit card companies, car loan companies, and any other lender you can. Tell them what’s going on, and see what they can do to accommodate you. The worst thing you can do is stay quiet and let bills pile up.

2. Looking to Borrow

Sometimes, the only thing to do is borrow some cash. Those with good credit can just borrow against a credit card or something like that. Some people may even be able to look for a personal loan, but those having financial issues every so often might have bad credit. If this is the case, a good option is a home equity loan. Yes, a loan for home equity with poor credit is possible; you just have to inquire about it and see what you have to do to qualify. Of course, you could always go to family members or friends. Some of these folks are willing to lend; just make sure you don’t abuse their goodwill.

3. Budgeting and Cuts

The next thing you’re going to have to do is make some significant cuts and start budgeting effectively. If you need to, you can talk to a wealth management specialist. You’ll see needless expenses you can omit. This could include things like eating out often or ordering take-out too much. It could also include expenses that aren’t necessary, like streaming services or delivery subscriptions. Hopefully, you’re able to deal with this crisis so that you can go back to spending the way you like to spend. Budgeting can feel stressful, but the financial situation you’re facing is a big deal, and you have to deal with that first.

4. Avoid Big Purchases

It’s essential to stop all big purchases and decisions. Sometimes, it’s easy to make a decision when you’re facing a problem. You might think you must get this now because you may not be able to get it later on. You might even buy something because you just want to feel good. Whatever the reason may be, be cautious here. What you should do is halt everything until you can deal with this crisis. A significant purchase or financial decision is only going to make things harder for your right now, and that’s not what you need right now.

5. Adding Additional Incomes

It might be a good idea to consider a secondary income stream or maybe a few until you’re able to sort everything out. The good thing is adding additional streams of income has never been easier. There’s so much you can do, like joining the rideshare industry or delivering packages or food to people. You could also rent out that granny house in the back to folks who are visiting your area for a little while. It might be challenging to juggle an extra gig or two, but this is what you’re going to have to do for a bit. Most of these jobs work around your schedule, so they’re doable.

Try some if not all of these solutions. It may take some time, but you might be able to crawl out of this financial black hole with a bit of work and patience.