Life doesn’t always go to plan, which may be the understatement of the century. While anyone with even the smallest amount of life experience can agree with such an insight, it doesn’t make things easier when our plans are subverted. This is especially true as it relates to financial matters, because not everyone can easily swallow an emergency payment they weren’t expecting to make, and especially not many at the same time.
When it rains, it pours however, and that can lead many people to really struggle to format their budget in accordance with so much turmoil. Even a small cost can translate into a big life obstacle, especially if it precedes another expenditure we weren’t counting on.
Thankfully, with a little preparation and foresight, you can make this process easier to manage when it does come home to roost. In this post, we’ll discuss how to deal with unexpected, but necessary emergency payments more easily:
Consider making financial adjustments
Not everyone has the financial wriggle room to swallow an emergency payment that easily, but in some cases you may be able to tailor things so a week or two of discomfort in a certain area is acceptable enough for this to be possible. So for example, it might be that you hold off on purchasing new clothes for a couple of weeks, cancel this month’s subscription to a streaming service and rely on your physical media collection for evening entertainment, or perhaps you’ll cancel a pending luxury order you had on hand. Sometimes, it’s good to evaluate our current budgeting cycle, and if we can help ourselves then it’s smart to do so. If not, then that’s absolutely understandable too.
Try and negotiate payment arrangements
It might be that you have more flexibility available to you than you had initially imagined. For instance, you may be able to pay off an incurred cost or fee through a payment plan, or perhaps you have a certain date by which you need to pay the invoice. For example, a locksmith might be happy to come out and attend to your emergency situation (granting you access back to the house after losing your keys, perhaps), and then give you three weeks to pay after taking all of your details and signing the contract with you. This can give you some breathing room, and it never hurts to ask.
Don’t overspend out of desperation
An emergency payment can disorient us and leave us feeling a little out of sorts. This is why it’s good to make sure that the payments we’re volunteering actually are going to a reputable service or brand that will provide a good outcome. For instance, if you lose your keys, then understanding the VW replacement key cost from official sources is much better in the long run than opting for a half-working third party option that might not be as reliable or officially supported, causing you a bigger payment replacing your mistake later. Take a breath if you can, and focus on the next step forward.
With this advice, you’re sure to deal with the unexpected but necessary emergency payments we all must deal with from time to time.
PLEASE NOTE – this is a collaborative post
