Medical emergencies bring a lot of panic and anxiety along. During such a difficult time, people often lose hope and begin stressing out more than they should, but we don’t blame them. The thought of something bad happening to a family member is enough to send shivers down our spines.
One thing that is even worse than the medical emergency itself is not having enough money to pay the hospital bills and provide top care to the beloved family member. The feeling of not being able to provide what is best for the people we love is soul-crushing, and nobody wishes that even upon their worst enemy.
In case of an emergency, you should be prepared for the worst and have a plan to execute if things go south and you are in need of financial help. If you ever find yourself stuck in a medical emergency without the required money, here are some things to remember.
1. Ask Friends for Financial Help
You may have heard that “a friend in need is a friend indeed.” We understand that asking for money from someone is not ideal, and you may feel hesitant to approach your friends. But in times of emergency, you have to keep everything aside and focus on treating your loved one.
Asking your close friends is a great idea because you know you can rely on them and they will help you out. You can take the required amount from a single friend or multiple friends. You can return the money to them in installments later when things go back to normal.
2. Ask Family Members
You might not be comfortable asking your family members for help which is completely understandable, but you should ask for their support and not be ashamed of doing so during an emergency. Family is always there for us, and they understand our pain. You should keep this option open if nothing works out.
3. Advance Salary from Office
Most of the companies offer an advance salary in case of an emergency, and you can ask your boss to help you get yours as well. The best part about getting the advance salary is that it is your own money. However, you might face difficulties later, but getting an advanced wage is a great option for the present situation.
4. Loans from the Office
Many companies offer loans to their employees, which are then deducted from the monthly salary until the loan amount is completed. This is perfect if you don’t want to be worried about the monthly expenses later.
You have to apply for a loan in your company and provide the required documents. The HR or finance department will go through them and grant a loan to you. You can customize a few clauses of the loan if you have good relations at your office.
5. Loans from Banks and Other Institutions
Many banks and other financial institutions are there to help you in a medical emergency and proceed with the steps to getting loans fast. Though there will be interest rates on the bank loans, you can rely on them and keep your dignity intact. If you are not comfortable asking for money from others, bank loans are the best and most viable option.
If the banks in your vicinity don’t offer quick loans, then you get loans against assets. You can get loans against jewelry, property, and shops, etc.
6. Pay via Credit Cards
You can pay the medical bills using your credit card in case of a medical emergency. It might not be the best option because of the credit card limits and high interest rates on credit card bills, but credit cards come in handy when there is no other resort.
Although your credit card limits may vary, you will still be able to pay the initial hospital bill and get some time to arrange the rest of the money.
7. Selling Jewellery
Jewelry is a prized possession, and you buy with all your heart. Selling your jewelry in a situation where your life or the life of your beloved is in danger is a wise decision. There is no point in keeping the jewelry with you when the person you love is on a hospital bed.
Although before deciding to sell your beautiful jewelry, we recommend trying other options. If nothing works out, then find a reliable jeweler who will give you a fair price and sell it to them. You can also sell them online to other people.
8. Sell Your Car/House
We don’t suggest this option wholeheartedly, but if every other opportunity fails to work, there is not much you can do. Selling your car or house is a hard decision to make, but it is not harder than losing a loved one because of not having money.
You can buy another car and house later as it is not as important as your family’s life. Humans can go to any lengths to keep their families safe, and selling your assets gives you hope that the person you love will get the best possible treatment.
These were some of the things that could help you during a tough and unwanted medical emergency. The situation at hand is already difficult and not having enough resources adds to the inconvenience, increasing the stress.
All of the mentioned ways of acquiring money are full proof, trustworthy, and many people use these options in their difficult times to help themselves. We hope and pray that you never come across such a helpless situation, but you now know how to handle it financially if God forbid you ever did.
Hi, they call me Jenna, and I am also known for achieving a gold medal during my Ph.D. in science life. I always had a dream to educate people through my utmost writing hobby. So, I chose this blogging path, and Biomadam gave me this opportunity to present for them. I now stand to entertain you. Continue reading my articles & discuss if you’ve any confusion through the comment section below.