I like to think of myself as a prepared person, I try and budget a bit for unfortunate mishaps, but even the most prepared person can get stuck thinking ‘What are we going to do?’.
I like to think of myself as a prepared person, I try and budget a bit for unfortunate mishaps, but even the most prepared person can get stuck thinking ‘What are we going to do?’. Just a few years ago I was a single mum to two children, I had my own house and everything was under guarantee, well I thought so, until I discovered the kitchen full of water. The washing machine had decided to unleash a full load of water. A trip from the washing machine repair man for the machine which was a month out of warranty, and a dead machine was diagnosed. I knew I had enough put aside enough in savings to buy a new one, but then the next morning I was not so prepared when the clutch on my car just suddenly stopped working. A trip to the garage, with a quote of £490, and not being able to use my car until it was fixed, meant that suddenly things looked bleaker than bleak.
I remember vividly sat there in front of my online banking, trying to work out how I could afford to do both and still pay the bills, when my son arrived home with a letter for a residential school trip costing £300! I could of cried, and very nearly did. I rang a friend to vent some anger at my bad luck, when she asked why I couldn’t put it on my credit card. I have never been a fan of a credit card, I am much more a ‘save and then buy’ kinda person, but I just couldn’t see anyway out. In one swift phone call I was sorted, I had been accepted. It meant I could get my car fixed, and get the new washing machine. Did I worry about my new found plastic friend? Not really, I like to think I have my sensible hat on most days, and never spend more than I can afford to pay back. I won’t lie, I love it, I love being able to spend a little extra than I have spare that month, or even just break up the cost of an expense over a few months. Do I regret it? Never, my new washer is still going! Now that is what you call being sensible.
Post in collaboration with Santander
Wow! I suppose a credit card could be used for emergencies but most people don’t and when people are really in a position where they are spending money they don’t have, I think that’s a slippery slope.
I’m glad you’re back on an even keel but as a single Mum myself, I save knowing that the only thing you can be sure of is that an unexpected expense will crop up nearly every month and when there is no-one to rely on but yourself, it’s vital to expect the unexpected and not assume that it won’t happen again next month. I say this having to replace every carpet in my house when I moved in when it had turned out the previous owner’s dog had done it’s business EVERYWHERE! They had been careful with the cleaning products when I’d viewed so I’d not been able to tell how bad it smelled. I then ran over a pothole, resulting in a £290 bill. I had to get a new sofa, new bed, my son needed school uniform. You see what I mean? There are “one off” expenses all the time. Credit cards are such a slippery slope and take self control sadly many of us lack.