Ways you can avoid unexpected financial headaches

LIFE doesn’t always go according to plan, and unforeseen expenses can hit anyone at any time.

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Of course, if you're rolling in money, shock payments aren't a problem. But as that's not the case for the majority of people, if the car or the washing machine breaks down, or you get a speeding fine, you have to find the money from somewhere. And that's when you need an emergency fund.

A new survey by the banking app thinkmoney has found the average Brit has to fork out for at least two shock bills a year, spending an average annual total of £776 on these charges.

The car breaking down (44 per cent) was the most common unforeseen expense, with broken washing machines (37 per cent) coming second and dental work (28 per cent) third.

Needing an emergency plumber or electrician came next (26 per cent), alongside boiler breakdowns and increasingly expensive vets’ bills. Other common financial hits were smashed phone screens parking fines and roof leaks. Nearly half of the 2000 British adults polled dipped in to savings to meet unforeseen expenses, while 20 per cent put it on a credit card, and one in 10 borrowed cash from friends and family.