No matter how frugal you are and how meticulously you planned your budget, something always crops up to send your finances into a spin. That’s fine though, right? You’ve got a healthy savings pot to cover all those unexpected expenses. There might be good intentions there, but most of us rarely have enough in the savings account when the unexpected expense crops up. There just never seems to be enough time to save that fund big enough!
5 Purchases You Never Seem To Have Time To Save For
A New Car
If your beloved ‘vintage’ vehicle has finally spluttered its last breath, you’re going to need to find the cash for a new car pretty quickly. Most of us have to commute to and from work every day. We use the car to pick up the groceries, and we might even have to drive it as part of our job. There is simply no choice, regardless of the cost. Car loans usually demand at least a third of the cost of the car as a deposit. You might need to seek out another ‘vintage’ model to get you back on the road for now.
A Family Home
Saving up for your first family home together can take years. In fact, it can take so long to save that you don’t reach your golden figure before the kids have come along! You might have done everything you could to avoid waste and put as much money in the savings pot as possible. Perhaps you even invested those savings into a high yield account? Still, these days, it is rarely enough. Your choices in a hurry are to take a more expensive rate for your mortgage or perhaps visit the bank of mum and dad.
Giving Your Business A Timely Boost
You never know when an opportunity will present itself. And in the business world, you’ve got to grab it quick to profit from it. Growth opportunities need a cash injection, but as a small startup, you might not have that kind of money available just yet. A loan might be your only option at this stage. You might contact unsecuredfinanceaustralia.com.au/ to find out if you’re eligible. When you need to buy equipment to fulfil orders that have come in, an unsecured business loan might offer you the chance to keep your new customers happy.
Nobody really plans to replace an appliance. It simply stops working, and you find yourself in need of a new one. Why don’t we save up for the inevitable death of our fridges and washing machines? Who knows? There’s no time to waste. Get yourself online or down to the appliance showroom. Your milk is souring! Will you be saving up for the next one?
You have a pet, so you probably have pet insurance, right? Except when it comes down to actually needing to make a claim, whatever your four-legged friend has wrong with them isn’t covered in full. Out comes the wallet and a trembling hand eases out the pristine credit card. Pets are very good for our health. Maybe not so great for our wealth!