Budgeting is a must for us. Every April, at the start of the new tax year I use Excel to create a budget for the following year. I try to cover every eventuality but even with lots of planning, we sometimes still end up with unexpected costs.
I have a sheet for each bank account. It keeps track of the deposits and withdrawals for each month so I can make sure we never go overdrawn.
Sometimes, though, even my best planning goes awry!
Last month I totally missed off the car MOT. Not only did I forget to save money for any repairs that may be needed, I even forgot to budget for the actual cost of the MOT.
Last year our car passed the MOT with flying colours, which was wonderful! This year it cost over £200 to get it to pass.
We don’t have any savings at the moment. This was a huge amount to have to find when it hadn’t been budgeted for during the previous months.
The car MOT is not the only time we’ve had unexpected costs arise. Over the course of one month, our washer broke, the fridge started playing up and the freezer developed a leak.
Let’s not mention the knife slipping while I was hacking away at some ice when I should have just defrosted it!
It’s a nightmare having no washer when you’ve got 3 kids, let me tell you! It’s even worse not having a fridge and freezer for a few weeks.
We bought this house a couple of years ago. Not long after moving in, we found out that the kitchen electrics needed completely re-wiring.
The electrician informed us that they were very dangerous. It wasn’t something you could put up with for a while, like not having a washer. It had to be done straight away to make it safe.
After living in rented accommodation for my whole life, it was a shock to the system not being able to call the landlord and have him foot the bill!
If you don’t have anyone who can help out when these situations arise, it can be hard to know where to turn. A payday loan can be a godsend when something urgent arises.
Vivus can help, they offer one payment loans. You borrow the money you need, between £100 – £500 and repay the whole amount, including the interest when you get paid, from 10 to 41 days.
New customers get their first loan for half price. For example, if you were due to be paid in 14 days and you needed a £200 loan, you’d only pay back £211.20.
You apply for the loan online and get an almost instant decision. There are no hidden fees.
If something should happen that stops you paying your loan back on time, you have 5 days to pay without incurring a late payment charge.
This is a collaborative post.