How to pay for a domestic emergency or unexpected expense

Statistically, we’re all likely to face at least one unexpected expense per year. Domestic emergencies definitely fall into that category and, depending on the incident, can be very costly. Whether you have burst pipes, a break in, an car breakdown or the boiler finally gives up the ghost, the amounts of money involved can be very intimidating. So, what do you do if you need to cover the cost of a shortfall created by an emergency like this? Savings You might be saving for a trip around the world but, if a domestic emergency arises, that’s the first place to turn for funding. Most money saving experts estimate that around 20% of monthly income should be put into a savings account. This will help you move towards life goals and also provide some buffer if things go wrong. However, statistics tell us that 16 million people in the UK don’t have savings of more than £100. So, if you haven’t yet managed to start putting the cash aside, you’re not alone. Credit cards Depending on


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