What To Do If An Unexpected Cost Arises

It’s great when you have your finances sorted, and you feel like you’re really getting somewhere with your money. No worries, no debt and… wait a second, is that an unexpected cost on the horizon? There is nothing more annoying than a roadblock stopping you dead in your tracks, but sometimes there is simply nothing that you can do about it. We’ve put together a guide on what to do if this happens to you, so that it doesn’t keep your finances down for too long. Sometimes, these things just happen. But they can be solved. Phew.

Use your savings, if you have some

If you’ve managed to accrue some savings, then now is probably the time to use them. Yes, it is annoying, especially if you’re saving up for the house of your dreams or that perfect vacation that you’ve been wanting to go on for some time. But the reason that you have this money is to cover things like unexpected costs; without it you’d really be in the dark. You can always save up again for that vacation, and put it back a few months from the date that you originally planned for. If you can’t avoid this payment that you just have to make right now, then prioritize it. You’ll still be able to go to Disneyland one day…

Look to tailored companies for help

If savings aren’t really your jam, then don’t worry. There are plenty of companies out there that can help you with your unexpected issues, and many of these are tailored to the situation that you’re in. For example, Charlotte Bail Bonds, LLC, can help you if you need emergency bail money for a family member, and you can pay this back in installments. This is the same for many situations, whether it is a big bill, a problem with your house or car, or something outlandish that you simply didn’t see coming. Look out for a company that won’t charge you an excessive amount of interest, and will let you pay the money back gradually.

Ask friends and family

If you don’t have a good credit score, or you simply want to avoid borrowing from a company that you don’t think you can pay back on time, then asking your friends and family for some financial assistance may be an option. The important thing to remember here is that you don’t want them to feel obliged to give you the money, and you also want them to know that you will actually pay them back. You can do this by drawing up an official agreement, so that you have something in writing to put their mind at rest. You can find templates for this kind of stuff online if you don’t want to pay out for a solicitor.

Get a loan from the bank

This is the most commonplace way to pay for your unexpected costs, and if your credit score is good then you’ll probably be able to secure a loan from the bank without too much stress. Make sure you look into all of the costs for this: what is the interest rate? When will you have to pay it back? What happens if you can’t pay it back on time? These are all questions that you must have the answers to, so don’t just sign up for some quick money without thinking of the repercussions of this. Research, research, and research again. If you need more help, go into the bank and ask to speak to someone, and compare a few banks on what they offer.

Fight the cost

Before you agree to hand over any cash, check that what is being asked of you is actually correct. If your gas or water company calls you and tells you that you have to pay them a wad of cash immediately, question it. They may have made a mistake, and it could be a tough battle to reclaim what you have paid them. Companies are sometimes in the wrong, so don’t be intimidated into paying just because you presume that they’re right. Ask for details, letters, and always keep email correspondence, as it can be easily traced if any issues arise in the future. Don’t pay for something that you don’t have to!

Get a credit card

Getting a credit card is a difficult call to make if you don’t want to accumulate debt, but one which you may just have to go with. 78% of Americans have a credit card, and there are plenty of choices out there that don’t come with the high interest rates you’d anticipate. Again, research is key here, and remember that whatever you choose may have an impact on your credit score. Speak to somebody and see what the deal is before you sign up, and make sure to ask about the future repercussions of using your credit card for big amounts of money. Choose wisely, and look into all of your options before you take the plunge.

Get a loan from an independent company

If your credit score isn’t the best, you can also get a loan from an independent company, although beware of the high interest rates. These companies are more likely to be hiding something sinister in their terms and conditions, so make sure that you look into every last detail. We’d recommend this as a final resort, as you may end up spiralling into further financial worries because of the costs associated with this. However, if you have to do it, just be wary of what you’re really signing up for when you request the cash.

So, there are many ways to deal with an unexpected cost, if you find that one arises. Whatever you choose to do, the real priority that you should have is to research into all of the details of it, and don’t leave yourself with even more financial issues than you began with. However, if you’re careful, you’ll solve your problem in no time. Good luck!

New Communities in Dubai

Dubai has for a long time now been an investment hub for both companies and individuals looking to take advantage of the growing market and a tax-free environment. Considering the sheer volume of real estate projects built in the last 10 years it would be easy to assume that things may be starting to slow down. With a vast range of new mega-projects planned and currently underway, the reality, however, is quite the opposite.

Let’s take a look at just some of the new real estate projects currently underway by some of Dubai’s biggest developers.

Dubai Creek Harbour

Set over a land area over 6 square kilometers, Dubai Creek Harbor is a mega project that one day will become the new Downtown of Dubai. Featuring a total of nine districts Dubai Creek is a community that will be home to some of the world’s most ambitious projects.

One very ambitious project is the new world record-breaking Dubai Creek Tower. With a final height of over 1000 meters, it is set to overtake Burj Khalifa and become the world tallest structure.  Featuring various observation decks offering unrivaled views of Dubai, Creek Tower is set to become the focal point of the entire community and a huge attraction for Dubai.

Along with being home to the world tallest tower, the Dubai Creek community will also feature the world’s largest shopping mall; Dubai Square. This new retail and entertainment mega project will cover 8million sq. ft. of space and provide visitors with an indoor/outdoor experience like no other.

Residential project development at Dubai Creek Harbour has so far been restricted to the Island District. Featuring a total of 27 towers this residential only community offers residents amazing views of the Dubai Skyline as well as the new Tower. The first projects sold here three years ago are expected to handover in the next 3 months with first residents moving in not long after that.

Dubai Hills Estate

Developed by two of Dubai’s biggest developers Meara’s and Emaar, Dubai Hills Estate is a new master community Located on the corner of Al Khail and Umm Suqeim Rd.

Set on prime land spanning over 11 million square meters once completed the Dubai Hills Community will be home to over 30,000 residences, 3 schools, a high-end mall and over 1.4 square kilometers of open space.

Residential properties available at Dubai Hills Estate include apartments, townhouses, and luxury villas. With construction starting over 2 years ago some of the very first projects released are expected to be handed over in the next 6 months.

Outside of residential type projects Dubai Hills will also include a new mall, a host of high-end retail outlets and also a number of 5-star hotels and serviced hotel apartment buildings. In addition, the entire Dubai Hills community will feature over one point four million square meters public open space.

In terms of buying residential property in the Dubai Hills Estate community, the opportunities are in no way limited.  With such a vast range of property options and types available, Dubai Hills offers something to buyers with all tastes and budgets.

Emaar Beachfront

Located in between Dubai Marina and the Palm Jumeirah, Emaar Beachfront at Dubai Harbour is set to become Dubai’s most exclusive beachfront community.

Featuring the best of urban living in a truly beachfront setting, Emaar Beachfront delivers the best of both worlds all at the same time. Once completed this resort-style community will feature a total of 27 buildings made up of residential apartment and hotel towers.

One of the many unique features of the Emaar Beachfront development is that all towers will have direct access to the beach as well as the new Marina. In addition, contained within the community will be over 200 retail and leisure outlets as well as one of the world’s largest cruise ship terminals.

Apartment types available at the Beachfront development will include a range of luxury 1,2,3 and 4 bedroom options. All apartments at the will come with high-end modern finishing along with floor-to-ceiling windows capturing the simply amazing views on offer. The scheduled completion date for the entire projects is 2024.

People Business Owners Should Have on Speed Dial

Although not many people use speed dial as it once was, the principal is still the same. There are some numbers that you should have well labeled for those moments that you really need them. As a small business when it comes to certain things, you don’t have time to waste, nor do you have as many disposable resources as the more prominent companies do.

There is a lot that goes into starting a business of any size, and as you go along, you want to make sure that you tackle everything in the best way possible. Cultivating healthy relationships with the following people will help in the long run, even if you never need to call them in to help.

Lawyer

You won’t believe how many people seem to charge ahead without getting any legal advice from anywhere. For a new startup, it might seem a bit like an expense you don’t want to pay out, and in some cases that might be true. But, the reality of it is that there is a lot of legal documents that you will be signing in the first few months of business (and even more in the following years), and it’s nice to have someone to go through it all with you. It could be legal questions about injury accidents, it could be consulting a business lawyer on some contracts. It might even be talking through the different legal setups to keep you protected. Whatever it is, it pays to have someone you trust to go through it with you. Most lawyers offer great flexible fee options that won’t hurt your pocket too much, and if they keep you out of trouble, then it was money well spent.

Business Mentor

It used to be something that no one really spoke about. These mythical creatures that prominent businessmen sought the knowledge of. But now, the lid has blown off this amazing pot of people. It doesn’t matter if you are starting your business or you have been running it for some time now, a business mentor can help you work through anything. Not only that but they are amazing at making your visions become more clearer and even how you; get there. They are great for advice, information and second opinions. One in five small business owners in 2015 said that a business mentor had helped them with it had come to running their business. You can find one that has experience in the field you are looking to venture into, or perhaps you’d prefer one that matches your personality. Great mentors will challenge you, your opinions and how you are running things. Not because they want to see you falter or fail, but because they want you to take a more in-depth look at your business.

Accountant

Of course, everyone knows that great accountants can make sure you that you up to date with everything in terms of taxes, and they can maximize your deductions in ways you will likely never even think of. But, they can also help you review your business structure and cash flow. They are trained to analyze how money travels, where it comes from and how you can make more of it. If you are looking into loans for growth, or you are in need of some relief from business debt, then these are the people you need to speak to. Even if you are a one-person business, and you think you have this handled entirely, the chances are you could be doing better. It is always wise to have someone who can talk you through financial decisions and the long-term impact they will have on you personally and your business.

Banker

Most banks will offer a business manager of some sort when it comes to small business or big business you get the same treatment. It is really important that you build a relationship with your business manager or the banker that manages your account. Ideally, they will be able to build a picture of the day-to-day running of your business, and the goals you have set your business. While, yes, your banker will be the one that stands between you and the cash you might be trying to access, they do this to protect you from making unwise financial decisions. The more they know, the more they can help. They are also highly connected to people in your field, and in others too. So if you are looking to be recommended a great accountant, then these will be a great person to ask. And, you can seek advice and information about personal banking matters too. They aren’t all about the numbers on the screen.

Insurance

It doesn’t matter if you are a one-person business, a multiple people business or even if you never leave your home office. Almost all business will need insurance. In order to get the right insurance for your needs, you’re going to need to seek advice and information on their products. If you have employees, you might need to consider medical, disability, or even unemployment insurance – there is a lot to think about. Then if something does happen, you are going to need to be able to call someone who is familiar with your business and can talk you through the next bit. Think of this the same as car insurance. You pay for it monthly, because on the off chance you do have some sort of accident you want to know for sure that you are covered, and if you are unable to work for whatever reason, your bills will be taken care of too. But, only with the right care from the right provider.

Having the right number easily accessible in your phone can be invaluable when you are in need of some help and fast. It might just be you running your business, but you can have a whole team of supporting people to get you through the sticky situations.