Dealing with unanticipated expenses

Category: Personal Finances

Financial collapse

An unanticipated expense can be financially devastating if you aren’t prepared. The following tips can help you become ready in case something unexpected should ever come up that requires a substantial amount of money, such as a job loss or medical expense.

Create a budget that allows you to stash money for a rainy day

Your budget shouldn’t just include how much you can spend on fun purchases and what you need to have for your monthly bills, but it should also allow you to stash some cash each month. Ideally, you should have a few months’ worth of expenses saved up should an emergency ever arise, but the more you can have, the better. If you are already facing a financial crisis, don’t just find a solution this one time and move on—prevent it from getting to that point again. Begin saving as much as you can and as quickly as you can. Find ways that you can cut down on costs and expenses, and stick to these lifestyle modifications.

Look into your loan options

If you are truly desperate and have no other options, you may want to consider taking out a loan. Visit your bank and find out what’s available to you and what you might qualify for, such as a payday loan or even refinancing your home. Although they might temporarily solve a financial issue, they are not a permanent solution, and failing to make timely payments on the loan will just make your problem worse.

Contact Peachtree Financial Solutions

If you are receiving annuity payments and you need to pay for an unanticipated expense, you can sell some or all of your future payments for cash now. Alternatively, you can prepare yourself for emergencies by having accessible cash through the sale of your annuity payments.

Are you struggling financially due to an unexpected situation, and you need cash now to stay afloat? Are you the recipient of an annuity payment stream? We can help you receive cash now by purchasing some or all of your annuity payment stream. When you sell an annuity payment stream, you are trading in your future payments for a  cash payout. For many, this proves to be extremely convenient, because it gives them the financial freedom to take care of expenses that have been piling up. Contact Peachtree Financial Solutions today for more information on how you can receive cash now for the sale of an annuity payment stream.

Nothing above is meant to provide financial or tax advice. You should meet with appropriate professionals for such services.

Tags: budgeting, cutting costs, emergencies, loans, saving

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