Sometimes life throws things at us and money becomes short. We have to cut back on luxuries and try to make do with less.
This year, I have had to cope with a big loss of income and it’s hit us hard as a family. We have had to manage our finances carefully and saving has taken a back seat for now.
Thankfully our children still have their Child Trust Funds which will give them a lump sum when they come of age. And I still have my savings fund which matures in three years time. My plan for that money was to go on a cruise but I don’t think that will be possible now unless I make a miraculous recovery.
When faced with a big buy you can raise money with a loan. peer-to-peer lending is a great way of taking out a loan with low interest. It’s good to know that there are places that offer safe and protected loans without those humongous interest rates. It’s also a great way to increase your savings by becoming a lender yourself. You can gain interest on your savings by loaning them to someone else.
I need to raise money for a big buy, which is proving to be difficult with our current financial situation. This week I made a difficult decision, egged on by my Facebook friends I have opened a Crowdfunding page to help raise money for a power chair. My condition is getting worse and I’m finding it more and more difficult to get around. I can’t self propel my manual wheelchair for very long due to the damage to my spine so I have to rely on being pushed around. I did buy a second hand power chair last year off eBay but it was so cheap I had a feeling it wouldn’t last long. I was right. It was good to have a little independence for a while though. If I’m honest, I didn’t think I’d be using it for long anyway because last year I was convinced that I would get better, but following my new diagnosis this year, I now know that I am looking at a future where I get worse not better. I’m not in a position to take out a loan so I set up my Crowdfunding page and I’m already wowed by the support I’ve received.
It would be so lovely to be able to get about by myself again. I could face the future with more positivity. I have to admit, I’ve not coped very well with the start of this year and I’ve been feeling very low since my new diagnosis. The thought of getting some new wheels really excites me and I’m looking forward to the warmer weather and being able to spend more time outside with my children.
If you would like to know more about my condition, Stiff Person Syndrome, then The Tin Man has lots of information. My type of SPS is one of the rarest, progressive encaphemylitis with rigidity and myoclonus.
What do you do when cash is short? I’d love to hear of any frugal tips you may have, or ways of raising money for those expensive things that you really need.
Disclosure: This is a collaborative post