There are times that we can’t always plan for, things like the washing machine breaking down at the same time some other unexpected bill arrives, and not everyone is able to save for a rainy day unfortunately, but recently for me it was that my car broke down, it was the battery, the natural life of the original battery, had apparently expired. As a parent this sort of spanner in the works can be a bit of a stressful situation, and not something you need on a busy day in 25c heat! We were planning a trip to the Wetlands in Newport but obviously that ended up being cancelled!
Luckily I had over estimated my monthly payments with the utility company so received an unexpected refund a few days before, which is very rare! So I was okay and we managed to feed the family, pay the bills and get my battery replaced. The actual repair of the car was very quick and easy, I called the local garage, they jump started the car, explained what the problem was and booked in the repair and did it within the hour. That really makes a difference when you have small children nagging you to take you to the park!
Even though I was lucky this time, if it was a tough month, or near Christmas (God forbid) then I may have considered a small payday loan, to be able to get the breathing space I needed, and recent Recently Which has said unauthorised overdrafts are more expensive than short-term loans, so I certainly wouldn’t have considered an unauthorised overdraft, once upon a time when I was a lot younger I managed to end up paying a lot of bank fees and really learnt from that lesson. One thing I think they should start teaching children in school is money management. I am definitely trying to teach my girls the value of money and they have even started their own little card making business, so fingers crossed they won’t end up paying fees for overdrafts and loans!
Obviously payday loans aren’t long-term solutions and it’s always best to put some money aside for these types of emergencies, plus you need to be aware of the costs involved with these loans. However they can be a useful tool if used responsibly, and you just need a little bit of help as a one off.
The company Vivus can provide short term loans from £100-£500, so get in touch with Vivus if you think you could responsibly use the tools they offer.
Please read the terms and conditions before signing up though. Always be responsible with money and seek advice if you are having any difficulties with repaying debts.