Do you ever get those months where there seems to be more of the month left than money? Those months are few and far between, thankfully, but when they do happen it’s a nightmare. Particularly with small children.
Lately, we have been lucky, but my poor best matey, Sim, had a bit of a disaster when her fridge-freezer packed in two days ago… Not content with just giving up the ghost, it decided to do it right before she went to bed. That’s yet another thing that needs to be sorted. However, it did get me thinking, how do we manage when an unexpected expense means we’re left short?
I have wracked my brain and come up with 5 ideas to help you decide what to do if you have to make a large purchase and know it will be a financial hit.
Think ‘Do I really need it?”
Can you live without a microwave or a dishwasher for a few weeks? Do you need a new tumble dryer immediately? If the answer is that your life will be manageable for a few weeks without it then wait. It’s not going to do you any harm and you might actually find that you don’t need that appliance in your life. (Although, if you have small children, do not think twice about a television! You NEED the television.)
Have a look on recycling sites before making your purchase
There are plenty of kind people in the world and very often they choose to give away unwanted items from their home. Check out Freecycle in your area and see if anyone has what you need. We picked up a cotbed from there a few years ago. It was in excellent condition.
Sell unwanted items
It may not be instant cash but with Facebook selling groups, Facebook Marketplace, eBay and Gumtree there’s plenty of places to sell anything you don’t want lying around the house. In my experience, good quality clothes and shoes sell quite well and let’s face it, everyone has at least one item of clothing they don’t want anymore. Just make sure you post your items for sale in relevant groups or categories.
Withdraw any payable earnings from your cashback accounts
If you use TopCashBack or similar sites and have some payable earnings in there, why not withdraw it? It’s certainly not helping you in TCB’s bank account but will certainly help you to survive until your next payday.
Short term loans
We’ve all heard of short term loans and the potential dangers of using short term loan companies but used correctly and they are a valuable asset. They aren’t designed to be paid off over a long term… they are purely there to get you through to payday. The tip is to only borrow the MINIMUM amount you think you will need and then pay it off as soon as you get paid. If you need to make that big purchase and know you’re going to be short, sites like Cash Lady can, very often, save your bacon.
Do you have any other tips to help with a big purchase?