Life. It can be pretty tough and when it decides to throw numerous, expensive problems your way in a short space of time you could find yourself in hot water. This interactive guide attempts to offer some examples of things that can go wrong, to encourage you to keep a savings buffer.
Here in the UK, 4 in 10 people have less than £500 in their savings and 28% of adults have nothing in the bank, leaving them vulnerable to debt should life throw them a curveball.
Let’s take a look at a week of very unfortunate events, that could easily take place and have you scrambling for cash by the end of the month.
After an extremely unfortunate week, it's finally payday. Although relieved, nearly half your salary is already gone due to overdraft repayment and fees, and you still have a full month's worth of bills to deal with.
No matter how rough your financial situation gets, there is always help at hand. Debt management service PayPlan offers free advice on a wide range of debt solutions including DMPs (debt management plans), IVAs (individual voluntary arrangements) and self-employed IVAs.