Do you have wiggle room? Can you wiggle your stuff right now?
No, I’m not talking about wiggling your body (although feel free to wiggle as you’re reading, I don’t mind!) I’m talking finances; how much can you wiggle money-wise.
There is no right or wrong answer here, we’ve done it differently in the past to how we do it now…I’m just going to give some examples for when things get tight with unexpected bills and such.
First things first, you’ll need to know how much the expense will be and how much you have left out of your monthly budget towards it.
Secondly, look at due dates: If I have an expense now and the money set aside or a bill later in the month/year, I could use that now and replace it before the later bill is due. CAUTION: Only do this if you are certain you will be able to replace the money, getting into arrears with something else is not the answer (we’ve been there, we know).
There are many more ways to wiggle budgets, so let’s continue…
Cut out something, non-contract packages like Now TV, Netflix and Amazon Prime all work on a month-by-month basis, if you can live a month without it, you can save. Give up a takeaway, meal out or trip to the pub.
Borrow from savings, again only if you’re sure you can put it back. Say I borrow £30 from my Christmas money, I have enough time to pay it back £10 per month. Even if you have a rainy day fund for things such as this, try to treat it as a borrow. Otherwise, you’ll deplete your funds pretty quickly.
Make more money: Sell stuff online, at a boot sale or in the local advertiser. Can you get overtime or do a one-off job to help someone out that would earn extra dosh?
There are dozens of ways to budget, just try to make sure you include some wiggle room for that unexpected car repair, school trip or hospital visit.
Have a lovely Sunday Peeps!