When you’re a low-income family like us, something like the washing machine taking its final spin or the fridge freezer packing up can be an absolute disaster. Last year, we had an issue when the tumble dryer packed up. We were lucky that it was under guarantee – just! Earlier this year, our car gave up the ghost. It needed £4000 worth of repairs, which just wasn’t possible. We ended up buying a new car, but trying to find the money for it was a real struggle.
We have looked into getting a credit card for emergencies, but with money seemingly available all the time, it’s probably too much of a temptation for us. We are lucky enough to have family that can lend us the money short term when we need it, but if that wasn’t an option, we would be considering looking into personal loans online.
Obviously, this sort of loan is far from perfect, but when you need fast cash, it’s reassuring to know that they are there to help. You need to ensure you are in a position to keep to the repayment terms and pay it back as soon as possible, otherwise, it can be a slippery slope. Using a reputable company who abides by the FCA rules for responsible lending is an absolute must.
With the most expensive time of year rapidly approaching, we are really hoping and praying that nothing breaks down or packs up, but if it does, there’s always some way of sorting it out!