December & January finances: Managing unplanned expenses

January finances

There’s no doubt about it –  December has to be the most expensive month of the year – what with our wallets being absolutely spanked throughout the festive period, and heating bills soaring as the country gets covered in a layer of frost.

Throughout all the jolly, we have mostly got absolutely carried away with ourselves and overspent like crazy, maxed out our credit cards and will be crying into our coffee come January wondering what on earth we have done (for the umpteenth year in a row).

Please don’t shoot the messenger, but it’s a harsh reality that January is mainly spent paying back our credit cards, overdrafts leaving our wallets quaking at fear at the thought of the January sales.

But what happens during months like these when something totally unexpected happens – your guttering collapses, your boiler breaks down, your car decides to take its last breath. Our usual strategies of a) dipping into our overdraft b) putting it on the credit card c) withdrawing savings – having probably already been rinsed, and as for taking on extra work….hmmmm….not much of that around in the new year or putting your head in the sand…well that won’t cut it.

At times like these, this is when a Vivus short term loan could be just the trick to help smooth things over in the short term.

Wooooah hold on there! I here you say, I don’t want to take out a dodgy short term loan. Yes I hear you, short-term loans generally DO have a bad reputation for targeting the poor and charging sky high interest rates.  But Vivus is a different kettle of fish as they champion responsible borrowing and only lend to sensible customers who want to clear their loan as quickly as possible, can afford to repay on their next payday and therefore keep the costs down.

So let’s break it down:

If you borrow, say, £200 for 10 days you’ll pay no more than £16.00 in interest, because FCA regulations limit the daily interest that can be applied. With Vivus, your first loan is half price, which means that interest cost could come down to £8.00.  Representative 302.1% APR. If you spread that repayment over three months, it might feel easier next month, but in the end you could pay more than £100 in interest. So if you only need a short term loan, you should think very carefully about how quickly you can pay it back.

You can apply online and providing you meet the computer generated algorithm requirements the money is at your disposal fast – usually with two and a half hours. If you accidentally miss your repayment date, you are given 5 days grace before any late fees or extra interest is incurred.

So if you’re looking for a fair and transparent solution to help you manage any unplanned expenses which usually come along with our winter woes during these sticky months, Vivus could be the bridge to get you over that short bumpy road.

*This is a collaborative post 

 

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