• Home
  • About
  • Contact

The Phat Startup

The Ultimate Lifestyle Blog for Entrepreneurs

  • Blog
  • Blogger Lifestyle
  • Money & Finance
  • Motivation
  • Personal Growth

Money & Finance

4 Ways to Handle Unexpected Expenses

Would you be able to cover an emergency expense despite the looming pandemic? Experts say about one in five American families couldn’t during the height of Covid-19.

This fact helped encourage Congress to pass relief bills, but are they enough? Could you handle a few unexpected expenses with your stimulus payments? Probably not. Even the recent $1,400 check wouldn’t pay most American’s rent for one month.

If you get hit with an unexpected expense, don’t feel out of options. Below, we’ll go over four ways to get the services or products you need without waiting months to save up the funds.

1. Work Out a Payment Plan

When an unexpected expense pops up, the first thing you should do is discuss the bill with the provider. Often, providers are in a good financial position. That means they’re often willing to work out a deal with you, even if you can’t afford your bill up front.

Most Americans don’t realize they can negotiate their bills. Sometimes, your provider will even give you a discount due to your circumstances. There may even be discounts you’re eligible for that you didn’t know existed!

Even if you can’t get your bill lowered, you can likely set up a payment plan in exchange for the services. So long as you keep up with your payments, you’ll be in good standing with the business.

2. Re-Budget

Is working out a deal not in your best interests? If so, then it’s time to re-budget your finances. If you don’t want to take on debt, then you’ll have to come up with the money.

Often, that means living below your means. You’ll have to cut down on your expenses. This will be a challenge if you’re already living on a tight budget. It’ll also be the most difficult way to cope with a new expense.

3. Paycheck Advances

Wouldn’t it be great if you could get paid before pay day? Well, we have good news! You often can!

Talk to your boss about a paycheck advance. If they’re not accommodating, then there are payday companies that can help you. Be sure that you can afford any fines before you agree, though.

4. Take Out a Loan

Finally, you could take out a loan to help you overcome being short on money. Loans aren’t free, but you can often find companies that will offer you good rates for borrowing money.

You can learn more about the different types of loans at yourfundingtree.com.

How to Handle Unexpected Expenses in 2021

Unexpected expenses can derail your budget. They can also leave you between a rock and hard place. Should you go into debt to get the services you need? Or, should you forgo your needs for months while you save up?

Don’t feel powerless against new expenses you weren’t expecting. The above four methods can help you get the money you need in a pinch.

If you’re an entrepreneur, then you know how these expenses can impact your business. We’ve got plenty of resources to help your business thrive through all its challenges. Keep searching through our blog to see more of our informative content.


« How Does Company Earnings Season Impact Stocks?
No More Social Anxiety: Causes & Tips To Get Over »

About The Phat Startup

The Phat Startup was created by Mike McOwen to create a space where entrepreneur lifestyle could be focused on. We tend to live a different lifestyle than most. Entrepreneurs tend to be interested in maximizing their life, not only their profit.

Connect With Me

  • Email
  • RSS
  • Twitter
  • YouTube

Twitter Feed

Mike McOwenFollow

Mike McOwen
PhatStartupsMike McOwen@PhatStartups·
29 Dec 2017

Why is content marketing so important? Find out here: http://thephatstartup.com/money-finance/why-your-business-needs-a-content-marketing-strategy-in-2018/

Reply on Twitter 946751505146707968Retweet on Twitter 946751505146707968Like on Twitter 9467515051467079681Twitter 946751505146707968
PhatStartupsMike McOwen@PhatStartups·
9 Oct 2017

http://yescincinnati.com/

Reply on Twitter 917521630162759681Retweet on Twitter 917521630162759681Like on Twitter 9175216301627596811Twitter 917521630162759681
PhatStartupsMike McOwen@PhatStartups·
25 Sep 2017

Wow, interesting

Forbes@Forbes

Millennial men are more likely than women to default on student debt http://on.forbes.com/60148NudC

Reply on Twitter 912458136849698816Retweet on Twitter 912458136849698816Like on Twitter 9124581368496988162Twitter 912458136849698816
PhatStartupsMike McOwen@PhatStartups·
25 Sep 2017

I LOVE Toronto! Miss that place

GO Transit@GOtransit

Explore Toronto’s art scene with GO! Enjoy special late night service during Nuit Blanche on Sept 30. https://cards.twitter.com/cards/v2l8b/4ttwx

Reply on Twitter 912458028355670017Retweet on Twitter 912458028355670017Like on Twitter 912458028355670017Twitter 912458028355670017
Retweet on TwitterMike McOwen Retweeted
BuffaloSabresBuffalo Sabres@BuffaloSabres·
25 Sep 2017

Batter's up! ⚾️ Spending quality time with our friends at @MiracleLeagueWN.

4
Reply on Twitter 912457252057034754Retweet on Twitter 91245725205703475454Like on Twitter 912457252057034754319Twitter 912457252057034754
Load More...

Blog Ideas That Make Money

8 Reasons Why Everyone Shouldn’t Like You

How to Organize a Successful Workshop for Your Employees

Why Read Red Rock Secured Reviews When Creating Your Retirement Plan

Search

Copyright © 2023 · The Phat Startup

Copyright © 2023 · Divine Theme on Genesis Framework · WordPress · Log in