Types of Unexpected Expenses – When you’re on a tight budget, unforeseen expenses can be a huge problem for you, especially when you lack the funds. There are plenty of ways unexpected expenses can be dealt with, from borrowing money from a family member to taking out a quick loan from payday loan lenders which can provide you with extra financial support in difficult times. Below are examples of the most common unexpected expenses.
Car repairs or replacement
In the event of a breakdown, an accident, or if your car has been in a steady decline for years, repairs can be expensive. Sometimes replacing parts or even getting a new car can be the cheaper option. Replacing your vehicle can be a huge financial burden even if you are planning on purchasing a used car. It is always a good idea to put aside money to cover repairs or purchases that are linked to your car.
Boiler repairs
Boiler repairs can be a huge drag, especially in the colder months. Boilers can be temperamental if they’re not serviced frequently. Servicing the boiler is a lot cheaper than fixing/replacing it. The price of repairing a boiler can vary and depends on what needs to be fixed and how old the boiler is. Costs can start from about £150-£200 if it is just a small repair, for example, if the gas valve needs to be fixed, or you could pay several hundred pounds if you must hire a repairman to replace a heat exchanger.
Funeral costs
In the terrible event that someone passes, a funeral can be costly. The average funeral costs almost £4000 and you may have to pay for extras. Ordering flowers and paying for catering can be incredibly expensive and together with the memorial you may spend more than £2,000 for these three things alone. If such an event does occur, you may not be prepared to deal with grief and the financial side of things.
Pet emergencies
A visit to the vet is nothing unusual for the average cat or dog. Pets frequently have to get check-ups or may fall ill at times. In the worst-case scenario, pets that are allowed to stray from the home could get into an accident, sometimes sadly suffering injuries from getting hit by a car. No matter what it is, if something happens that requires them to go to the vet, it can be costly if you don’t have insurance.
Major home repairs
Major home repairs that may need to be carried out suddenly and without warning include fixing the roof, repairing a burst pipe or a broken window and even taking down a large tree in the garden. Depending on the scope of the project, this can all be costly to fix or replace.
Poppy Watt