How to Deal with a Financial Emergency in Edinburgh

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Living in a vibrant and bustling city can be expensive, but there’s no reason why you can’t comfortably deal with any financial emergency which can arise. The following can help you better understand instances of money emergencies and the steps you can take to look after your money in an improved way. 

Examples of Financial Emergency 

Financial difficulties will always be personal to everyone, and only you can best understand your own finances and money situation. Nevertheless, here are key areas of financial emergency which may occur:

  • Job loss 
  • Unexpected repairs 
  • Overwhelming debt 
  • Unexpected life changes, such as divorce or moving home
  • Struggling to make ends meet 
  • Inability to pay bills 

Dealing With Financial Emergencies

Save Money Where You Can 

Edinburgh is abundant with beautiful sites, which means you can easily find something to do which won’t break the bank. Simply strolling through the streets won’t cost a penny, and you can still indulge in the sights and sounds of this amazing city without having to spend anything. There are plenty of free walks around Edinburgh, too, if you’re looking to fill your time with more hiking, such as the walk up to Arthur’s Seat

Find Short-Term Solutions 

Quick and easy money solutions may be all it takes to get you on the right track, such as payday loans or quick loans. These can ensure that you can still pay your outgoings on time, or else pay for an unexpected emergency without breaking the bank, and have it securely repaid when you can next afford it. 

Seek Out Employment Opportunities

Edinburgh is a wealth of culture and experiences, from local book shops to restaurants to museums and events. If a new job opportunity is what you need, either for a side income or for employment with higher pay, it’s a good idea to browse the job market within Edinburgh. With so much on offer within the city, you will have a lot of options to browse when it comes to employment. For more information, use these tips from The Balance Careers.

Consider a Flat Share  

Due to the popularity of the city and city-centre living, as well as a high student culture, there may be plenty of opportunities for sharing rent and utilities payments by flat sharing. This could save you a lot of monthly money, or it could be a good option if you’re struggling to pay rent and need to share with a roommate to keep costs low whilst you get back on track with your finances. 

There may be plenty of opportunities, including renting a room in a large shared house or seeking one-on-one roommate situations where you can share a full house with another resident.  

Shop Independent Stores 

The city is abundant with various shops and stores and many of these will be independent. It may be that you can save a lot of money by shopping second-hand stores or discounted stores as opposed to mainstream ones where you will buy brand new at a higher price tag.

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