Why We All Need Back Up Options

Written by Karen Bryan

t mobile dongleWhen our BT broadband went down for a few hours, I was glad I had a couple of USB modems enabling me get online again immediately.

As an online publisher, I need to be able to get connected to do the majority of my work. That’s why I have a T Mobile 3o Day Data SIM card which costs me £5 a month for 1GB and a Three Mobile Sim Only PAYG 12 which gives me 12 GB of data to use over a 12 month period for £70.

This made me think how important it is to have back up options; below are a few more which I’ve found very useful.

  • Always carry at least two bank cards from different banks –  if one bank has technical problems, you have another card which you can use to withdraw cash or pay for goods/services.
  • Have an emergency fund – this will avoid you slipping into debt if you have a sudden expense.
  • Open an instant access savings account whenever you see a reasonable rate of interest – recently the majority of accounts paying the highest rates have had 12 month bonuses which means that you have to keep shunting your money around to get a decent rate. Therefore, I’m always on the lookout for a new home for our savings and may open an account a few months before I need it in order to lock in the bonus, in case interest rates keep falling.
  • Buy a spare wheel for your car – I was surprised that our new Skoda Fabia 1.6 TDI didn’t come with a spare wheel, only a puncture repair kit. We paid £65 for a spacesaver spare wheel, as I don’t fancy getting stranded if I have a blowout.

What are your tips for backup options?

One Response to “Why We All Need Back Up Options”

  1. I like the analogy
    Many in financial services would have you worrying only about retirement, when saving for today’s emergencies is left to sort itself out.
    Great advice Karen