How to Cope with Unexpected Costs
Spending is something that we always seem to be doing. Spending on ourselves, spending on our home, spending our cars, and just generally spending on the things we want and need in life. But what do we do about that? We complain like no end, simply because money is flying out of our bank accounts quicker than it seems to be coming in, and it just gets our knickers in a twist. But when you think about it, even though you would rather have the money spare to go and do whatever you wanted, you’re spending money on the things that make you happy. So what happens when you seriously have to spend money on unexpected costs; the things in life that won’t make you happy. There are many occasions where this will happen, and we’re going to talk you through a few of them, so that you can deal with it the right way!
The Loss Of A Loved One
Now this is something that’s going to seriously hurt, and to think you have to spend so much money simply to put someone to rest. It’s a super hard time, but one where you really need to be with the people who mean the most to you. The people who are going to be that support system to help you through. As for the cost side of things, if you visit websites such as heartofenglandfuneralcare.co.uk, you’ll find a company who is going to keep this unexpected cost down for you. They will also support you through the hard times! It’s all about who you chose to facilitate this sad time, because some businesses charge a fortune with little support, which is just so terrible!
Relationship breakdowns are just hard to deal with. One minute you’re fine, and you have this partner for life that you thought was going to be by your side forever. But then all of the sudden, things start spiralling out of control, until you hit rock bottom. Even if it’s mutual, and you actually don’t feel that cut up about it, you’re still going to have to deal with all of the headaches it will bring, and the biggest is the expense. There will be legal fees for you to pay, but if you’re married, you will get a payout to cover it. If not, there are plenty of businesses who would offer financial aid in this time of need. Although you may need to pay them back at a later date. But the most important thing you can do, is try and get through it as quickly and as sensibly as you possibly can. Don’t drag it out any longer than it needs to be!
Rainy Day Fund
A rainy day fund, otherwise known as an emergency fund, is a sum of money that can be used in the event of an unexpected situation. Situations such as paying for funeral costs, losing your job, or another big expense.
Most financial advisors would recommending saving around three months worth of money to cover the cost of your usual outgoings. If this is something you think you would struggle to achieve, take a look at these rainy day funding tips.