How do you save for unexpected expenses when you’re already on a budget? We’ve got some great ideas on how to generate extra cash…
How to cope with an unexpected expense when you’re on a budget
Ever noticed how big bills have a habit of popping up when you’re least ready for them? If you’re already having to watch the pennies, it’s the last thing you need to deal with. However, with a little careful preparation, you could build up a buffer to take the impact of that next major expense.
Extra overtime could prevent under-funding
You could start by asking at work if there are any extra hours available. Even if it’s just three of four additional hours every week, it all adds up to more money in the bank for you. And because it’s money you haven’t had before, you may want to set it aside in a separate account. That way you’ll soon have that nest egg for a rainy day.
Make money from stuff you don’t want
What you might view as clutter could be treasure to someone else. So get clearing out all those clothes, DVDs, CDs old tech and homeware and put them up for sale online. If you haven’t done it before, getting started on the likes of eBay and gumtree is easier than you might think and could soon bring in a handy extra stream of cash. If you’re not technically minded and like meeting new people, then why not check out where your local carboot sales take place?
Get cash for questions
It’s always nice to be asked your opinion – it’s even nicer to be paid for them. And that’s just what you can do for various companies online. With as much as £5 per completed survey, you can soon start to rack up the cash as the surveys come in.
Rent out a room and make money from your home
Did you know the government runs a scheme designed to help people rent out rooms in their homes? And did you also know that you don’t have to pay tax on the first £7,500 you earn in rent each year? That’s up to £625 a month without stumping up tax! Likewise, if you live near a city or train station and have a spare car parking area, you might want to think about letting it out for a monthly fee to commuters.
In an emergency, a cash loan can help
Of course, even with careful planning, we can all be caught out. That’s when a doorstep loan comes into its own. Loans delivered to your door are fast and friendly and can even help you cover an unexpected expense. Click the apply now button below and find out if you could be accepted in principle for a cash loan.