Roadblocks You’ll Face When You Run Out of Cash
Budgeting should be considered a sport since it really is a challenging task especially if you're living paycheck-to-paycheck. It requires some serious skill to manage your finances and ensure that your cash can tide you over until the next payroll.
If you're already an adept in budgeting, you must be wondering "But what's the worst that could possibly happen if I run out of cash?" While the list goes a long way, here are 4 major roadblocks you’ll encounter if you ever do:
Roadblock #1. Basic Needs Uncovered
Topline problem that you'll face is that you wouldn't be able to cover your basic expenses like food and shelter. This might leave you in a vulnerable place that can affect other aspects of life.
Roadblock #2. FOMO is Real
If you barely have enough for your necessities, what more for those in-the-moment expenses? Aside from your physical needs, running out of cash by end of the month would also affect the next tiers of your need hierarchy. You can say goodbye to that spontaneous barkada trip and experience the Fear Of Missing Out firsthand.
Roadblock #3. In Case of Emergency - What to Break?
In situations like this, you wouldn't have anything to shell out in case of an emergency. Unexpected things happen – someone gets sick, you get a flat tire, household repair is needed - and when you have no money to spare, things can snowball from bad to worse.
Roadblock #4: Savings Who?
If you’ve run out of money for your expenses, it would be safe to assume that you’ve already touched your supposed savings for this month.
Having an allotted percentage for your savings will help you avoid being in this tight spot moving forward, but if you find yourself encountering this consistently, more roadblocks will be ahead of you unless you turn it around.
Running out of money can definitely be a headache to deal with. Fortunately, you can make sure that you always have cash ready when it matters by having a dependable online loan friend to help you out – like Cashwagon! Interested?