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How to pay for the unforeseen expenses

Date: Tue, 01/30/2018 21:42
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Heard that I can't use credit cards when I'm in a debt management plan. How will I pay for the unforeseen expenses? I don't have an emergency fund.




You have heard it right.

Start building an emergency fund. Lead a frugal life to save money. Make it your goal to save 10% of your monthly income every month.

Sub: #1 posted on Wed, 01/31/2018 - 02:49

ditchdebt ditchdebt

(Posts: 667 | Credits: 98.88)

You have to create an emergency fund out of your paycheck. As ditchdebt suggested, try to save at least 10% every month.

Sub: #2 posted on Wed, 01/31/2018 - 05:36

tiarajoseph11 tiarajoseph11

(Posts: 330 | Credits: 45.4)

It's high time you learn to live without credit cards. It is true that credit cards are good but, first pay off your debts and then start managing cards efficiently.

Sub: #3 posted on Thu, 02/01/2018 - 05:16

Good Nelly Good Nelly
Industry Expert
(Posts: 2670 | Credits: 372)

plan a budget first and set aside money. Cut down extra expenses. It will help you to build an emergency fund. Don't use credit cards to overcome an emergency. It is a mistake.

Sub: #4 posted on Fri, 02/02/2018 - 05:29

sanderspatricia29 sanderspatricia29

(Posts: 713 | Credits: 73.21)

You can sell unused items to have extra cash. There are ways to earn a side income too.

Sub: #5 posted on Fri, 02/09/2018 - 04:43

Mabelle Page Mabelle Page

(Posts: 163 | Credits: 16.04)

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