What to do when you need unexpected cash

How to Survive on a Student Budget

I like to think of myself as a pretty organised and well prepared person. I plan for the unexpected where I can but sometimes it doesn’t always go to exactly how you want it to. I have over the years been caught out a few times and needed to make some cash fast, obviously without it having a huge impact on my current commitments such as bills. So what do you do when you’re in that situation? Beg, borrow and sell in most cases; which is what I did in these situations.

 

Unexpected New Brake Pads

 

It was the time of the year that everyone dreads, MOT time. The previous year the car had passed without a hitch, in fact it had somehow done better than the year before that. The phone call came and my heart sunk, “You need all new brake pads” as well as some other bits and pieces. This was an unexpected bill, a £400 unexpected bill and in mid-January – nobody has spare cash in January. I was out at the time, no way of making the cash and I needed the car back asap so I ended up taking out a payday loan to cover the cost. I knew I could easily pay it back come my next payday so I had no problem with doing so and it was better than being faced with no car.

 

Last Minute Decision To Buy A House

 

Not your regular way of going about buying a house but one came up that was too good to miss. The only problem being that I hadn’t planned to buy a house for another year to give me the chance to save up the deposit. This wasn’t a fun task as obviously, I couldn’t take out any credit such as a payday loan or longer term loan even though I knew I could afford it. This last minute decision gave me a month to save up and to do that I pulled out all the stops. I sold everything I didn’t need or wouldn’t be taking with me, I threw myself into matched betting to take as much as that as I could and I looked for extra cash on money making apps. I managed it though, I saved pretty much the whole deposit within the month.

 

We Sprung A Leak

 

It doesn’t matter how prepared you are, when a house problem appears it always takes you by surprise; so when our kitchen sink decided it wanted to leak it wasn’t anything to laugh about. Puddles forming on the floor, cleaning products and equipment suddenly unusable, and then the cost to call out a plumber makes a leak one of the least pleasant events to happen in a house. With a plumper’s call out fee enough to give you a heart attack, never mind the labour on top, being prepared for an event like this is a must. Unfortunately I wasn’t so needed to scrape the cash together quick – why does it always happen just before payday? In this case I was lucky that my Mum was on hand to lend me the cash, which meant the repair could go ahead with less stress than there could have been.

 

Getting caught short is never fun. Making sure you have a backup plan is a must in order to make sure you can deal with it; whether this is an emergency fund, savings, a credit card or even a family member who can give you a hand.

 

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