How to Financially Handle Unforeseen Circumstances In Your Family

If your family is like most, there never seems to be enough money to go around. Therefore, every dollar that the family does have must be accounted for and spent wisely. 

Unfortunately, there may be circumstances beyond your control that may stretch or break your budget. What can you do to handle those events as best as possible?

How to Handle Automobile Repair Costs

While you may be able to anticipate the need for some car repairs, you never know when your vehicle will simply refuse to start before work one morning. 

Even worse, it could refuse to start in the mall parking lot or when you are out of town. The first thing that you need to do is get the vehicle to a shop and yourself to a safe place. 




When you get the estimate for the repair costs, you shouldn't panic. Instead, ask about any financing programs that a service center may offer. Depending on the reason why your car won't start or otherwise won't run, it may be possible to file an insurance claim. 

If those options aren't available, you can ask for money from your friends or parents. In an absolute worst case scenario, payday lenders may be able to send the money to your bank account within minutes.

How to Handle Unexpected Tax Bills

Most people get refunds from the IRS and from their state government each year when they file their taxes. 

However, if you owe money, it may be tough to scrape together the necessary funds to pay that debt. It may be even harder to pay the bill if you don't know that you owe the money until you file your return in January.

In this scenario, you should request a six-month extension to file your return. Although it doesn't give you an extension to pay, the penalties for not paying on time are generally less severe than the penalties for not filing on time. 

Other options include asking for an offer-in-compromise, which is similar to a debt settlement with other creditors.

How to Handle Unexpected Dental Costs

It is difficult to deal with tooth pain for more than a few hours. Failing to see a specialist at a family dentistry in Roanoke Rapids, North Carolina or one such establishment that is in your area quickly after breaking a tooth could also cause long-term oral and other related health problems. 

In many cases, dentists offer payment plans to help you better afford your care. It may be possible to use personal credit cards or CareCredit to get the work done. 

CareCredit is typical an interest-free loan, which means that you don't have to worry about the expense compounding if it isn't paid off in a timely manner. If you have insurance, your policy may cover some of the work that needs to be done.

How to Handle Unexpected Property Damage

If your home is damaged by a storm, a pest infestation or some other unexpected event, it could cost thousands to repair the damage. If you need emergency repair work to a furnace or some other component to your home, that could cost even more. 

Your first option is to file a claim with your homeowners’ insurance company. Other options include applying for personal loans or using credit cards to pay for the repairs if the insurance claim is denied. In the aftermath of a devastating storm, relief funds may be available to help you rebuild.

There is never a good time for an emergency expense to arise. However, it may not be possible to simply let your car, home or tax bill linger for weeks or months. 

Therefore, knowing where to go to get help paying those expenses can keep your family safe and healthy despite your financial issues.

Buying Car Insurance for the First Time? These 4 Tips Should Make it Easier

Nearly every state in America requires drivers to have automobile insurance but despite that regulation, a 2009 survey from the Insurance Research Council found nearly one in seven drivers chose not to purchase insurance before they took to the roads. One of the reasons for that may be due to people feeling intimidated about all the choices available, and the fact that requirements vary by state.

Fortunately, there are some constants to rely on whether you’re buying insurance in Denver, Colorado or Charlottesville, Virginia. If you’re getting ready to purchase insurance for the first time, there’s no need to feel overwhelmed. In fact, the tips below should make your task more manageable.

Know What’s Required

There are two types of liability insurance available to buy: Property damage insurance and bodily injury insurance. As you might imagine, the first type covers damage to a person’s car or protects you during an accident in which you damage someone’s residence while driving. On the other hand, insurance against bodily injury means you shouldn’t have to bear the sole burden of hospital bills incurred by a person who’s hurt following an auto accident you were involved in.

Find out the minimum amount of each type of insurance you’re required to have, and if possible, buy as much coverage as you can afford. After an accident, you’d want to have the peace of mind that comes from knowing you won’t have to drain your bank account to cover damages suffered.

Consider Getting Additional Types of Insurance

Whereas liability insurance is often mandatory, collision and comprehensive insurance may be optional. Collision insurance gives coverage for your own vehicle in the event of a crash, and comprehensive insurance acts as a safeguard against things like weather-related damage and vandalism to your car. If your budget will allow, consider getting this extra insurance. Driving requires commitments, and choosing insurance can help you feel more confident every time you get behind the wheel.

Select a Logical Deductible

A deductible is the amount of money you pay out of pocket before insurance takes effect. When you’re able to financially manage a higher deductible, that usually means your insurance cost will be lower, but don’t become too persuaded by low monthly premiums with deductibles you can’t afford. It’s ideal to select a deductible amount you could pay comfortably if the need arose. By instead assuming you won’t need to depend on insurance, that could saddle you with a dangerous amount of debt.

Compare Your Options

Being adequately informed makes many tasks easier, and that reality certainly extends to purchasing car insurance. Take your time and compare quotes before reaching a decision. It’s now easy to shop online and contrast choices from home at any time of the day or night. Also be aware that you might be eligible for certain discounts, particularly if you drive a car that has many safety features, or you agree to successfully complete a defensive driving skills class.

Using the information you’ve just read, it’ll hopefully be possible to make your first car insurance purchase a simple one, and cause subsequent efforts to find new insurance providers to be hassle-free, as well. Good luck!

Writer Deanna Ford is a professional blogger. Check out her posts on car insurance denver world climate for more insurance tips.