Tips For When There is No Rainy Day Fund

Sometimes, despite your best made plans, there may be times when you need money quickly. Perhaps your boiler breaks, you have a burst pipe or you suddenly need some car maintenance. Just recently, our washing machine broke on the same day that the clutch had to be replaced on our car and so we had two unexpected expensive bills to pay in a short space of time! It's not always easy to find the money if you don't have savings and it's certainly not always easy to save up funds in anticipation of this. There are however, a few tips that can help you during a financial emergency.


Visit online deal sites These sites are sites which share with you the best deals, freebies and vouchers that are out there. This can save you a fortune. It's certainly worth checking here before you make a purchase as there might be a freebie, deal or voucher that you can use to save you a considerable amount on the original price. 

Avoid Spending. This could include making packed lunches throughout the week. Buying a shop bought sandwich or meal-deal or regularly buying coffees, can really add up. Have a look in your cupboards, fridge and freezer and see what meals you can make out of the contents. Chances are you wont need to spend money on food for a few days.

Selling items. Do you have unwanted items lying around? Perhaps your little ones have outgrown some toys and clothes? Selling your unwanted items can give you a little more spending money. 

Consider a loan One option is to consider borrowing money. Polar Credit is a fast and simple credit line that can offer small amounts of cash that you then pay back via monthly repayments. You apply online and are then given a credit limit so you can transfer funds into your account as needed. Repayments can be tailored in line with your current financial position. The interest accrued is based on the actual amount borrowed rather than the credit limit. With all loans, it's important to consider whether you'll be in a financial position to pay the money back as if not, this could mean you'll be in a worse position financially.

Overtime Can you make a little more money from putting in a few more hours at work that week? It's certainly worth asking your employer if this is an option as it can really reduce the stress that comes with being in a bad financial situation.

*Collaborative Post