If you don’t have savings, there are still ways to see yourself through a rough patch says R4’s MoneyBox presenter
I won’t ask what the disaster was or if it could have been avoided! It is there and you need £2,000 to deal with it and you need it now!
First, do you have enough savings to cover it? And yes, I know that is your house deposit or your holiday fund but what rate of interest does it earn – 2%, 3%? And what rate will you pay on a loan if you take one out? A lot more than that, I can tell you. So spend that £2,000 out of your savings and then make a standing order to yourself for £200 a month and it will all be paid back and earning interest by next Christmas. Job done.
