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How To Pay For Emergencies Without Going Into Debt

having an emergency fund

    It certainly feels like the economy is looking up for many Americans. While there are still workers in certain industries that struggle to find good paying jobs, investments are up, self employment opportunities are plentiful, and the world looks a bit rosier than it did a few years ago. At least that’s what I thought until I saw this study from the federal reserve showing that half of Americans would struggle if faced with a $400 emergency expense! If you fall into this category, it’s important to figure out how to pay for emergencies without going into debt. So Many People Can’t Afford Emergencies I’m certainly not one to throw stones. Back in the day, we whipped out a credit card for most expenses, emergency or not, expecting that we’d make our payment at the end of the month just like everyone else. I had hoped that  the recession taught most of us that jobs can disappear at any time and an emergency fund can be the difference between inconvenience and financial ruin, but I think maybe I was wrong. While this survey did have some positives, with the majority of respondents saying they are doing OK or ...

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Don’t Blow Your Tax Refund

wise things to buy with tax refunds

According to the Internal Revenue Service, 75% of tax payers will get a refund this year. Since the average refund is almost $2800, it’s time to start thinking about how to put that money to good use. A tax refund is not a windfall or a gift from the government. It’s your money, earned from work, that Uncle Sam has been holding all year long. Don’t blow your tax refund by treating it like found money. Pay Off Debt One of the best uses of a tax refund has to be paying off debt. While government won’t be paying any interest for holding your money, you’ve likely been paying interest to your creditors. Having a couple of thousand dollars to throw at credit card bills or high interest loans can be a huge morale boost for those struggling to get out from under their debt. Start Or Top Off An Emergency Fund We all know that not having anything in savings for emergencies is often the reason people go into debt. Most experts suggest saving at least three months of necessary expenses, but that number often seems too overwhelming for people who live paycheck to paycheck. Even having $500 or ...

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What To Do If You Hate Your Job

Things you can do if you hate your job

Is Friday at 5PM your absolute best moment of the week? Do you find yourself not enjoying Sunday afternoons because you’re already thinking about having to work the next day? Do you spend a good portion of your time and energy complaining about your job? Are you completely stressed out because you feel trapped in a job or career that isn’t what you thought it would be? What do you do if you hate your job? Do You Really Hate Your Job? Before you write off your job completely, figure out why you hate it. Is it because you aren’t being challenged? Are you being challenged too much? Are you missing time with your family? Do you have to work with difficult people all day? Make a list of all the reasons why it seems that you hate your job. When I did this, I found out that I don’t actually hate my job. I just hated the amount of time it took me away from doing other things. Make Changes That Will Make Your Job Better If you hate your job because of a horrible co-worker, can you move to another department or change schedules? If you hate your ...

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Things That Go Wrong

Stack of Money

Why You Sometimes Might Need Money Fast Isn’t it always the way that something will wrong and will need fixing straight away, the day you spend your last dollar before payday. We all know how important is it to have an emergency fund. Savings gives you piece of mind to deal with anything that might happen. However, in some instances, the emergency fund might not have enough to handle life’s emergencies or you may not be able to get to your money after hours. That’s why it’s good to have a back-up. What do you do if you need money straight away and your savings account can’t be accessed? If you’re really in a fix, an online loan company like Wonga can help get you out of a bind.  What kind of problems might occur that need money fast? Broken Lock – It’s been playing up for ages, but you get home from work this evening and the key won’t turn at all. The door’s wooden and your lounge window is much too big to break. You phone the locksmith who tells you he can be out to you in a jiffy, but he only accepts cash. Car Breakdown. Now ...

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5 Tips for Saving Money in the New Year

saving money

  With the New Year right around the corner, now is a good time to start thinking about saving money. There are several things you can do right now to reduce your overall spending, and increase your savings. With a little bit of determination and organization you will be able to cut back on some spending and save a lot of money over time.  They more you are able to save now, the more financially stable you will become by the end of the year. Below is a look at the top five tips for saving money in the New Year. 1.    Set Budget If you do not already have a budget in place, it is crucial that you create a workable budget. This budget should detail all of your expenses, including housing, transportation, medical, food, clothing, and miscellaneous. You also want to track your spending to make sure that you are spending within your budget. 2.    Add Raise to Savings If you were fortunate enough to have received a raise this year, why not put it into your savings account instead of spending it? This will not provide you with any less money than you had this year, so ...

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