*This is a featured partner post
I’m not one for superstitions, but I’ve had my fair share of bad luck over the past few years. If someone were to admit they’d put a curse on me, I wouldn’t not believe it.
Thankfully I’m pretty resourceful and have a few solutions to getting out of a pickle. Most of my misfortune has been down to unexpected car trouble, so perhaps I’m not cursed, perhaps I just buy old cars. Either way, these are my top tips for how to cope financially when something goes wrong.
How I Cope Financially When Misfortune Strikes
The ideal solution is to have an emergency fund so that any unexpected expenses can be easily covered. I know more than anyone that this is easier said than done, and it’s taken me until my thirties to build up even a small one. If an emergency fund is unrealistic, these methods also help.
Borrow the money
Providing you can afford to pay it back, there’s no shame in borrowing money. If friends or family offer then make a clear repayment plan involving dates and amounts so that no one falls out. If they don’t, then don’t worry, there are companies out there that do small loans, which can really help you out if you’re stuck. That way, you don’t have to d without something important like your car if things go wrong.
Offer your services
If you need to make some extra cash, ask your work if there’s any overtime going. If you’re self employed, reach out to others in your field to see if they can put you in touch with someone looking for the services you offer. I’m a freelance writer and if times get hard for me, I tend to look on freelancing sites to see if I can pick up extra work. Even if the rate is lower than I’d usually charge, extra cash is extra cash.
Sell unwanted items
My home is always in need of a de-clutter and thankfully that saying about one man’s trash being another man’s treasure seems to be true. I try to trim down my wardrobe in batches by putting my clothes on eBay. If I list clothes for the right season, the few pounds I earn here and there soon add up. Selling old mobile phones online can also fetch a good amount. Google your phone model and it’s selling price to find out which selling sites will give you the best price. If you have any vintage items, you’ll probably get your best price on Etsy – it’s not a bidding site so you list the item for what it’s worth and no one tries to haggle!
Cashback sites are great for the long game
I try to get cashback on everything I buy online. Usually I spend all year collecting it without cashing out and last year I made £200 in cashback. It’s a great way to save up an emergency fund without taking any of your monthly income out of circulation. Usually the payout isn’t instant and if you want to draw it out as a cash sum rather than vouchers, you’re looking at waiting about 5 days. Five days seems like a long time if you need the money urgently, but if you know your MOT is due and you’re expecting a fail, you can at least draw the money out in anticipation.
Hopefully these tips have come in handy and given you some ideas for next time misfortune lands.
You might want to check out how to save money around the house.