1. Open a savings account intended for defraying emergency expenses. The fund in this account should be at least six months of expenses. Most people walk away because the amount seemed unattainable. But like many other goals, the road to success begins with the first step. If you are serious about your preparations for future emergencies, you have to open that savings account for your emergency fund.
2. If you have several credit cards, set aside one for emergencies. Do not use this card for your regular expenses. The only disadvantage of having a card like this is that the card company may close this account if it remains unused for a long period of time.
3. Make a prior arrangement with a friend or family member about an access to quick cash. This type of loan may come without interest since it is extended by someone close to you. You must be careful not to abuse this privilege. Be serious about paying out this loan on time as you would other types of loans.
4. Take the time to make an advance research on money lenders to avoid being careless when stressful situations come. However, this type of loan may carry high interests. Include in your advance preparations a payout plan. I am sure you don’t want to get entangled with more serious problems later on because of mismanaging this high-interest loan.
Take note that this is just a plan; a forecast of what might happen in the future. Things may happen as planned, but you need to be prepared also, in case the “unplanned” happens.