The Right Amount to Borrow in a Crisis Worksheet

When you’re in a financial struggle during a crisis, adding debt into the picture might feel like a bad move. It’s not.

Honestly, borrowing money to help you survive what you’re going through right now may be your best option. And if you’re going to do it, do it now. That way, your credit score is still good and you haven’t maxed out your credit cards before you apply for a loan.

Your next question is, “How much do I need?” 

You want to borrow enough to get through this situation without having to borrow again. The application process can be stressful enough once. And it feels more anxiety-provoking when money starts to get tighter.

This worksheet will help you determine how much money you need to borrow, so you can get through your current crisis, and recover on the other side. In this situation it’s better to ask for more than you think you need, because costs that you haven’t even thought of yet may crop up… and your crisis could last longer than you expect. It’s better to cover all the extremes than end up short.

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