While we all wish we had deeper pockets, periods of financial emergency can be particularly emotionally and physically taxing. Although it can be difficult to ask for help, there are many steps you can take to minimize the damage until you get back on track. We’ve put together a list of tips and tricks that can help you weather the storm:
Loan for Today
For many of us going through a money crisis, it can be tempting to throw everything onto a credit card and hope to deal with it later. Big mistake! With the confusing repayment terms and conditions, on top of the high interest rates, it’s much safer to find low interest money loans to help you through the pinch without sending you into an endless cycle of debt. Fair loans put the control back in your wallet and leave you with more disposable income to utilize in other areas.
Automatic for the Payment
Have you ever forgotten a bill? If you’re directing all of your attention towards the money coming ‘in,’ it can be easy to miss some money that was meant to go ‘out.’ Luckily for us, we live in an era where most of our bills can be paid with simple, automated payments. It’s quick and easy to set up and will save you plenty of hassle down the track. Now you’ll be able to focus entirely on your finances and not worry about missing anything.
Sell, Sell, Sell!
Although Facebook’s Marketplace is relatively new, people have been making turning their unwanted goods into cash via sites like Craigslist and eBay for decades. These online trading posts are a great way to declutter your life and gain extra funds that you can use today. If you’ve ever invested in a hobby in which you later lost interest, or just have excess stuff lying around, post them online and see if anyone is interested.
A Break from the Stream
Streaming services like Spotify, YouTube Premium or Netflix are wonderfully affordable on their own. However, if you’re subscribing to every service available, the cumulative cost can make a serious dent in your monthly budget. Take a break and cancel at least some of your subscriptions for a few months. You might find that you can get by just fine with free-to-air services and the joy of seeing your bank balance swell may more than compensate for that show you gave up binge-watching. You can also try calling their bluff ‒ often if you attempt to cancel, they’ll make an offer to keep you onboard. You may be able to score a few months free or discounted.
Get in Touch
When faced with a wall of bills that you cannot manage, have you ever considered just giving them a call? Not many people think to do it, but creditors are usually more than happy to work manageable payment plans or hardship discounts. Ignoring due dates in the hope they’ll go away will only get you into deeper trouble. You’ll be surprised at how willing they can be to work with you and ease your short-term burdens.
Add all of these to your to-do list, and hopefully, you’ll find life significantly easier until you can sort out the immediate financial emergency and get back in the black. Coupling this list with a modest lifestyle will see your bank account remain steady for the time being. Best of luck!
