Financial unforeseen events can happen to anyone, even those who consider themselves organized with their finances, after all, accidents happen, and sometimes nor the emergency reserve is enough to cover unexpected expenses.
That refrigerator that breaks, the car tire that needs to be changed, a more expensive medicine that we couldn't predict. These are all factors that we cannot control, but in any case, it is important to prevent yourself.
In order not to go through complicated situations, the watchword is: planning. Although there is no certainty about the amounts spent on certain unforeseen events, many economists guarantee that organizing is the key to getting out of more complicated situations involving extra spending and financial unforeseen events.
Therefore, we separate 5 tips for dealing with financial unforeseen problems in a simple way and well organized. See what they are:
- Organize your finances;
- Make an emergency reservation;
- Purchase insurance and health plans;
- Use your credit card responsibly;
- Start using salary on demand;
To learn how to apply these tips in your day to day, continue reading the article and learn how to deal with these surprises. Check out!
5 tips on how to prepare for financial unforeseen events
We may not even be sure when they will happen, but for sure, unforeseen circumstances will always be part of our lives. For that reason, having a planning well-defined can be the key to don't be caught off guard when those eventualities happen.
In case you still don't know how to start your planning, check out, below, 5 tips that will prepare you to face financial unforeseen events.
1. Organize your finances
To start saving, you need to start with analyzing your earnings, fixed and variable expenses, investments and what's left. From this detail, it is possible to understand how it is related to money and how it can be applied.
It is also necessary to be attentive, since many people confuse unforeseen events with one-time expenses, which gets in the way of “close the account”.
There are expenses that happen every year in a timely manner, such as the payment of the IPVA, for example.
However, many people see these expenses as unforeseen, just because they happen few times a year. It is important to differentiate one from the other and ensure that one-off expenses enter our planning!
2. Make an emergency reservation
Invest in a emergency reserve<span style=”font-weight: 400;”>. The reserve exists exactly to help in unexpected moments, such as being unemployed or in times of illness, for example. The reservation is important, as it makes us more relaxed in case any unforeseen happens.
To set up your reservation, you will need the spending estimate monthly payments that you have (and that you should have already calculated in the planning) start saving the equivalent of a few months of that expense.
Many economists define as a rule that the reserve has a value equivalent to 3 to 6 months of your fixed monthly expenses. This alternative, without a doubt, is ideal, but feel comfortable to make an account within what makes sense to you.
For example, if you are a more anxious person, it may be a good idea to save the equivalent of more than those 3 months. However, with the current economic crisis that we are experiencing, it is totally understandable that this reserve is smaller. Know that the emergency reservation is important for you to sleep more peacefully at night.
This is a great alternative for those who want save money, but you need good liquidity. That is, having the power to withdraw money at any time. There is savings, an old one known to UK citizens, however, there are forms of investment low risk, good liquidity and greater profitability that she.
Among the most sought after alternatives are Public Treasury, like the Selic Treasury, for example. Are extremely reliableas they are directly linked to the government and offer investment options for a really low value, being ideal for all types of investors. Or even accounts, in digital banks, that yield more than savings, for example.
3. Purchase insurance and health plans
Many people think that insurance is completely expendable, as they can spend a lifetime paying for it without ever having to. However, the general advice is that investing in them is one of the best ways to safeguard against unexpected expenses.
Make one car insurance, for example, saves you from having to pay a considerable amount if you have a problem with your car or, worse, in case of theft or theft. In addition, there are insurers that offer towing services, which are widely used in everyday life.
There are also real estate insurances that, in addition to protecting your assets in serious cases, such as floods, fires, thefts and break-ins, also offer smaller services, such as minor hydraulic repairs, electrical power or key changes.
An increasingly adopted alternative has been the safe for cell phones. This is a great alternative for those who want to keep themselves safe from theft, theft and, in some cases, breaks and scratches.
Among these investments, it is also necessary to add health plans. We always hope that nothing happens, however, our health always needs attention and, unfortunately, the treatments, however small they may be, tend to be expensive.
So, having a health plan ensures that we go through hard times of illness with a little more of tranquility.
Already one life insurance style=”font-weight: 400;”> You may have additional coverage such as paying for Temporary Disability Fees (DIT) and coverage for Serious Illnesses, which may pay benefits to the insured person still alive.
Although it seems things that are far from your reality, it is always good to be cautious against these situations, providing security not only for you, but for your family and loved ones.
4. Use your credit card responsibly
Currently, credit cards have assumed a fixed position in the lives of most UK citizens. This is due to the ease of access that many digital banks offer the population, such as annuity 0 and lower interest rates.
This represents greater purchasing power, however, without due financial education style=”font-weight: 400;”>, also means greater indebtedness for its indiscriminate use.
According to a research released by Guiabolso, the lower strata of society have less financial knowledge, but also use more than the credit card limit.
This is justified by the lack of financial planning, in addition to social questions linked to the problem. Therefore, the use of the credit card can be carried out, however, with the due planning and responsibility.
After all, it means a great form of indebtedness today, but it can serve as a way to fill certain pending issues. Of course, only as a last resort.
Currently, by failure to charge the annuity and lower interest rates, having a card only for emergency moments has become a really viable great option.
Therefore, although many UK citizens still shy away from the idea of using credit cards, for fear of getting into debt, it is possible to have their use totally controlled, betting on financial education.
5. Start using salary on demand
On-demand pay is a relatively recent benefit in the country. It allows the employee to have access to the salary of the days he has worked before the pay day, when he needs it. Therefore, the company that offers the benefit to the employee is also offering a new alternative to resolve a financial unforeseen event, if he does not have money at the time it happens.
HR Consultants UKy is a financial platform that offers this service. The transfer requested by the employee through the application immediately falls into the account of the employee, who does not pay interest for it and can use his own salary on any day of the week, at any time.
To find out more information about salary on demand and how to adopt it in your company, follow the article: Salary on demand: the best benefit for advancing payments
The benefit directly influences the financial life of employees, who can cover indebtedness and avoid abusive charges on overdrafts or credit cards.
Through this, employees' financial and mental health is valued, promoting greater well-being in several areas of their lives, including professional ones. And that means a positive attitude not only for the employee, but also for the company.
After all, with a greater appreciation from the employer, employees will feel more engaged and will have that workplace as a good reference.
If you want to know more about how to hire HR Consultants UKy access the website and understand how the platform implementation works, which does not generate any cost for the company.