Let’s face it, even with a crystal ball there is no way of knowing what the future brings. For many people, the unknown involves unexpected bills and unless they’re dealt with as soon as possible, it’s easy to spiral into debt.  However, there are some steps you can take to prevent the unexpected from broadsiding your financial position and here we take a closer look.

Call Them and Negotiate

It’s easy to ignore the bills when you know you don’t have the funds to pay them but unfortunately, burying your head in the sand only makes the situation worse. Even if you haven’t got the money, open all your bills immediately and then sit down and work out how you can manage to pay the amount going forward. Perhaps you can afford a payment plan and if you have a monthly figure in mind when you make the call, you’re more likely to reach an agreement. If you don’t, owed amounts have a tendency to increase considerably over time as interest is accrued.

Cancel Other Payments

When you start to feel as though you are losing control of your money, it’s important to sit down and work out exactly what your outgoings are and how they compare to your income. Sometimes, we have unnecessary mandates in place with our banks to pay for things like gym membership, Netflix and Amazon Prime, which can mount up to a considerable amount of money over a period of time. By rationalizing your expenditure and determining what is necessary and what is not, you can often give yourself more wriggle-room financially for those unexpected expenses.

Sell Your Stuff

We all accumulate a whole load of stuff during the years, particularly families with children. As they grow up and toys become neglected or the vintage cot you bought for your first born remains stashed in the attic. Think about organizing a garage sale and shifting all the junk you don’t want because there’s bound to be someone out there who does! Not only will you have a clutter-free home once again but you’ll be surprised at how much you can make from the things you no longer need.

Pawn Your Valuables

If you have some treasured items that have considerable sentimental value that you don’t want to let go of, you could consider pawning them instead. Pawning is a way of raising money using items of value as security on the loan. Interest rates are generally competitive although should you not be able to settle the balance owed within the specified timeframe, you risk losing your items altogether. For that reason, pawning is something you should consider carefully, particularly when negotiating the value of your pieces.

Rummage down The Back of the Sofa

It sounds unbelievable that the back of your sofa could be a source of cash but research shows that the average household has around $200 stashed around the home. Coins that fall from pockets and behind your sofa’s cushion can soon accumulate to quite a fortune, depending on the age of your sofa of course.  While you’re at it, you can also check all the other nooks and crannies where money could’ve been stashed in a hurry and forgotten about. When we’re flush with cash, it’s very easy to get careless with small amounts of money and if you find it, you can get yourself out of a tricky situation quickly!

Take out a Personal Loan

Sometimes it’s worth consolidating our financial position with a personal loan. With interest rates at an advantageous level and payments spread over a period of time, you can get the room to breathe more easily. Personal loans are a good way of wiping the financial slate clean, particularly if you owe different amounts of money to different companies or people. By bundling all your creditors together, you can manage your financial position much better. You can also use personal lending to raise the funds for fun things like vacations or a new car and spread the cost over as long as you need to, making it an affordable option. If you want to know about the options available to you, contact Kingofkash.com for more information.