Emergency cash – 5 tricks to have more cash in 1 month when you need it urgently
You want to buy the car and you need emergency cash…..
You want to go on holiday and you need cash…
You want to buy a bike and you need emergency cash…
You are loosing your job and you need emergency cash to survive a few months…
Emergency tax is the answer
What do you do? all you need is to have cash. It is not about money, it is just about cash. Remember cash is king!!! If you have it and don’t have to pay interest on having it, you will be fine.
These are five simple tricks to have more emergency cash within 1 month.
- Apply for a good credit card or two of them with the longest possible interest free for purchases. there are many of then available for 18 or 24 months or longer. Start using it for all shopping, this way cash will stay with you (£1000-£2000 per month of cash savings). Check out this post for more details
- Stop any non essential shopping, limit your expenses to food, bills, mortgage or rent (savings will depend on your life style but can easily keep £200-£1000 per month)
- Start cycling anywhere you can, this will save you some cash on petrol (£50)
- Review evere simple direct debit and close all non essential such as: gym memberships, TVs, games, amazon, anything which is non essential (it depends on your life style but easily can save £200-300 per month
- Identify additional source of income (work at restaurant, publishing, other way to utilise your skills (depends on your skill)
Remember, any debt or credit card must be carefully considered as you are living for money that does not belong to you. Make sure you always pay the minimum to avoid the interest. If you make a mistake you will pay charges. Your credit rating could also suffer. Make sure you have the plan to pay it off.