At least once in your life, you will find yourself in need of instant cash. Emergencies, accidents, God knows what can happen. You need to prepare yourself for situations like this, but first, you should know when they can occur. The knowledge of how to identify unexpected expenses is crucial as it can happen to anyone. And if you are in need of instant cash already, click here. Now, let's get to the list.
1. Health issues
Good healthcare is expensive, and you know that. Bills, pills, and endless waiting lines, this is the reality of today's medicine. But it is not even half as scary as a vision of a sudden need of treatment that your insurance doesn't cover. Even worse, when the person needing that treatment is your kid. Another health-related reason for an instant cash need is when you can find yourself too sick to work. You can lose your job, but even if you only have short-term health issues, you don't get fully paid. Sickness of any kind can cause some severe damage to your budget.
2. Losing a job
It this world, one day you're in, one day you're out. You can't predict it. The financial crisis makes your boss fire half of the workers including yourself or he wants to hire somebody with less experience and a lower salary. Having a job is a constant race. Will you make to the finish line before others, who knows? But losing a job doesn't have to be scary, as long as you find another one quickly. If not, then you are most definitely in need of instant cash. You have to support somehow yourself and your family during the search for a new career opportunity.
3. A sudden need to relocate
Moving is always expensive, and it can be a financial burden when don't have much time to plan it. Imagine you get evicted from your apartment because of some unexpected issues. It can happen to anyone. Unfortunately, there are many reasons why you can be forced to leave an apartment on short-notice, everything depends on the will of your landlord. So you suddenly might need money to move, but also some extra funds to put down for a new place. You can also find yourself with a promotional offer that requires you to relocate fast. You have been waiting for so long to be recognised. And now to not be able to grab that opportunity just because you don't have moving money, that's just sad.
4. Your car refuses to work with you
Nothing worse than a car breakdown in the morning when you have places to be. Surprises like that not only are problematic but also need an instant solution. And having your car repaired can come at a high price. You can find yourself with a bill from a mechanic and with a payment for a rental car as well. This expenses can do serious damage to your budget, depending on how long it will take to make your car driveable again.
5. Divorce or a break-up
Life is no happy ever after story. Break-ups and divorces happen, and they happen often. You argue a lot with your partner and one day you have enough of it. You can't imagine living together under one roof. All you want to do is pack your things and start over, but do you have enough money to do so? Divorces are expensive, and let's face it, sharing everyday expenses is so much easier than paying for everything from your pocket. Your savings might not be enough for you to turn your life around.
6. Unexpected pregnancy
You or your partner find out that you will be a family now. Of course, you are thrilled, but there is one negative thought in your mind. You didn't expect to become a parent so suddenly, and you are not prepared for it financially. Babies on the way mean your expenses list will grow more and more. With emergency fund plans ready, you will have less stress, and you will focus only on the great things that are about to happen.
All of those things and many more can cause your budget to suffer. It's a stressful situation to find yourself in. You hope these moments will never happen, but how can you know? Fortunately, much of the worry can be minimised by having a cash emergency fund. Be prepared for the unexpected before it happens.
