According to the firm, the expected nature of these types of expenses can stretch people's financial planning to the limit and lead to cash flow problems that need to be addressed immediately. Going without heat in the home or not being able to get to work is not an option, which means the costs must be paid. This however can make it difficult to cover other monthly expenses, including utility bills, rent or groceries.
A spokesperson for Umbrella Loans said: "Many of us try and plan our finances so we spend around the same amount each month and have enough for a rainy day. However, in these tough economic conditions, many people are already finding their finances pushed to the limit to cover the basics. Even allowing for increased heating bills during the colder months of the year, it can be difficult or even impossible for people to plan for an unexpected boiler or car problem.
"When the repair bill arrives, it needs to be paid but this can cause cash flow issues later in the month, especially if payday is a few weeks away. This is where a short-term payday loan can help. We offer amounts of up to £500 to help people cover their costs until after they've next been paid. The loan must be repaid within a maximum of 30 days, so is designed to be an ideal short-term solution to cash flow difficulties."
Umbrella Loans says it's important that as soon as people face a sizeable repair bills for either the home or their vehicle, that they sit down to financially plan for the months ahead. While a payday loan can help in the short-term, it's important that people factor in the repayment and how they will continue to make ends meet next month and the months that follow.
"Payday loans are not there to provide a long-term solution to financial problems, so it's essential that people find a way of making cutbacks and other sacrifices to get their outgoings under control," the spokesperson said. "The good news is that with the right planning and a little help from short-term borrowing, a potentially big problem like a breakdown of a boiler or car needn't have a massive impact on your winter."
For more information about payday loans, visit http://www.umbrellaloans.co.uk/