How to deal with a financial emergency

Britain is a nation of borrowers with recent surveys suggesting that up to a third of households have savings of less than three months’ salary in the bank. That makes millions of people vulnerable to a sudden financial emergency like a major car breakdown, ill health (which means that the breadwinner has to take time out from work), or even just a burst pipe which causes flooding within the home. Would you be able to cope with any of these? If you were unable to work for a prolonged period because of an injury or ill health, would you still be able to pay your mortgage, put food on the table and fuel in the car? Here’s an easy-to-follow guide on how to deal with the unexpected financial emergency: Take stock of the situation If something unexpected happens and places a severe strain on your finances, then you should firstly carefully evaluate the new situation. That means not panicking or a hysterical response which will only make the situation worse and create additional anxiety


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