Totaled your car? Had a medical emergency? Unexpected job loss? When you are strapped for cash, it may seem like there is nowhere to turn.

In fact, there are a multitude of options when you need money and have used up (or never had) an emergency fund. Of course, the best option is to save up the money yourself and avoid going into debt. But if that’s not possible, check out some of the available methods below to help you when you’re in a pinch. Each option has its own pros and cons, so make sure you consider your options carefully and fully understand the terms before you commit.

1. Personal Loan

Designed for personal expenses, there are both secured (backed by collateral) and unsecured personal loans available through banks and other lending institutions. The better your credit score, the better interest rate you will likely qualify for. You can use a personal loan calculator to see what your monthly payments and total cost of loan would be over time depending on the amount you need and interest loan you qualify for. Make sure you understand the difference between payday loans and personal loans (here’s a quick explainer).

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