5 Ways To Cut Out The Emergency Costs

Thursday, March 21, 2019

When you find out that you have to pay out some emergency costs, it can be the worst feeling ever. You’ve just managed to get yourself on your feet financially - maybe you’ve even accrued some savings - and now you’ve got to pay out a whole lot of cash for this emergency situation, and you don’t really know what to do. Luckily, there are some ways around this, and you don’t always have to splash out the cash when it comes to the emergency costs.

We’ve put together a list of 5 things that you can do if you find yourself in a situation like this.

1. Ask to pay the cost back in installments
If you’ve found yourself with a fine, or some other form of cost that you’ve got to pay back, then there is no harm in asking whether you can pay it back over the period of a few months, or perhaps even a year. Not everybody can afford to deal with a bulk payment, and if you negotiate with the company in question, then they may be flexible about your repayment options. Whatever your emergency cost is, don’t be afraid to try and haggle about how you repay it, and don’t hand over a bulk payment until you’re absolutely certain that you have to do so.

2. Protest your innocence if you think it’s incorrect
OK, so you’ve got a speeding fine, and it puts you out almost $100. That’s a lot of money, but you don’t actually remember doing this, and you know that you’ve always been a responsible driver. Instead of just paying out for this, you should ask the company that sent it to you whether they have further evidence, and whether you can appeal the decision. After all, you shouldn’t have to pay out if you believe that it’s a mistake, and this can leave you seriously out of pocket. Visit a site like if you think you’ll need a bit of support from the professionals here.

3. Cut out non-essentials
Sometimes, you just have to bite the bullet and pay out that emergency cost. And yes, whilst you’d prefer not to, there really is no choice some of the time. In order to pay this off with minimal impact to your savings, you should cut out that non-essential spending, at least for a few weeks. Of course, you still need to pay your rent, eat, and pay to get to work, but you probably don’t need to take yourself for that $20 meal out every other day, so try your best to avoid those fancy restaurants and drinks out whilst you get back on your financial feet.

4. Keep on top of savings
When you open up a savings account, you may be all geared up about saving that cash. Over time, however, your passion towards this slowly fades away, and before you know it, you’re putting $0 a month into your savings, and blowing your cash on things that you don’t really need. Again, if you find yourself in a tricky financial situation, then you’ll be a lot better off if you have a bit of a nest egg there, rather than just using your current earnings to battle with it. Even if you only put $20 aside each month, it will add up over time, and it could help you a lot in an emergency.

5. Be more responsible
The main thing to remember if you don’t want to splash out the cash, is that you should be a little bit more responsible, especially when it comes to things like driving. Don’t DUI, make sure that you park in legitimate spaces, and try not to speed down those roads with speed limits on them. We know, some of these rules seem pretty illogical, but following them can help you to save a lot of cash in the long-run. The best way to deal with an emergency cost like this, is to make sure that it doesn’t happen again in the future, as you don’t want to be dealing with these things twice over.

If you want to cut out those emergency costs - or simply deal with them more efficiently - then make sure that you keep these things in mind. Whilst you can protest the cost and pay it back over time if necessary, the most important thing is to save up some cash beforehand, and try to be more responsible when it comes to fines and other costs. We know, we sound like your Mom, but trust us, you’ll be glad that you remembered this when you save yourself a lot of cash in the long-run!

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