We all know the theory that we should have a contingency fund. Money we put aside each month which we keep for when something needs fixing. Sometimes though, I find that everything seems to go wrong at once and I struggle to balance my finances! So, what can you do?
Does it all need paying for now?
First of all, can any of the things which need repairing wait? Could you manage without your car until you get paid? Maybe it would be cheaper to get the bus to work for a few weeks? For us we can’t wait for a car repair. But when our washing machine failed, a family member was happy to let us pop round with our washing until we could afford to replace the machine! If there’s a way to spread out all the things which need paying for, do! If none of it can wait, prioritise and make sure you sort out paying for the most important thing first.
Make extra cash.
This sounds obvious and it really is. Look through what you have which you don’t use or don’t need anymore. DVD’s and Video Games can provide quick cash – although you may not get a great price, it is a great way to top up your purse in a hurry. If you can wait for the money, look at selling on sites like eBay.
Over the summer we had a big clear out from our garage, and sold a tent or two on Gumtree. The great thing about Gumtree is that the buyer pays you cash and there are no fees! So, if you have clothes, toys or furniture which you could clear out, do it!
Gift vouchers are something I sometimes forget I have, I tuck them into my purse and forget them! When you have a cash shortage, check to see if you have any vouchers to spend. Some vouchers can be used in a variety of shops, including some food retailers. This frees up money to put towards whatever it is you need to pay for! You can also sell gift vouchers online at sites like Zeek.
Borrowing money might be the last thing you want to do, but sometimes a short term loan can give you the breathing space to be able to move forwards. If you have a relative you can ask for help, do! Otherwise you could consider a pay day loan from a company like Cash Lady, but make sure you can afford the repayments and remember this is only a short term solution.
Ask for help.
If you’re really struggling with money, ask for help the Government has set up a free helpline National Debtline. which can offer assistance.
This post is an opinion post, not intended as advice. Always seek independent advice on financial matters. Collaborative post.