Tales of the Unexpected

Scarier than any horror movie, is the unexpected bill!

Here’s how to deal with it when you’re on a budget:

  1. Expect it: You don’t know what or when, but at some point there will be an unexpected new Tyre, plumbing issue or event. If you know it’s coming it’ll reduce the panic and help you plan ahead.
  2. Save for it: Dave Ramsey (and many other financial experts) recommend you have an emergency budget of £1000 in savings in case you need it, then you won’t borrow or not pay something when one of these horrors show up. £1000 seems a lot, but that’s only £10 a week for 2 years (or if you can, £20 per week for 1 year)… see if you can cut something out, Sky TV or some people’s takeaway habits alone would cover that.                                                                      If you really can’t budget for it now, don’t worry: Pay what you have to, save any change you can, sell anything you can (Ebay, boot sales, etc.) or look for extra income. Check out my posts on this here and here.
  3. Save for other budget-busters: Some things you know will come outside your normal budget, like Christmas, birthdays and trips…. if you plan ahead, save and bargain hunt for these an emergency around the same time won’t hurt your pocket so much. If Christmas is already paid for, a new Tyre in December won’t mean not paying a bill or for someone’s present!
  4. Ask for help: If you’re really struggling financially, CAB National Debtline your benefits department or your local church (who often have Food Banks among many other useful resources and contacts) may be able to help, if you don’t ask you won’t know.

 

I hope that will help you budget for the future.

If you have any tips, please feel free to add a comment below.

xx

3 thoughts on “Tales of the Unexpected

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s