126: Expect the Unexpected

 

The timing belt needs to be replaced in your car, you get a speeding ticket, someone in your family needs a PT scan not covered by your health insurance. We've all been there; the unexpected bills!

Life can hit with expenses that nearly knock the wind out of us. One sad statistic is that most American households could not handle an unexpected expense of $400.

You do not have to be part of this statistic.

 

In This Episode, We Look At:

How to plan for the unexpected. First, acknowledge that expenses arise, and you do not have to be caught off guard.

Make the time to stop and consider all the possible expenses that may come up in one year's time: Consider your medical plan and the extent of your out-of-pocket responsibility; consider the condition of your automobile(s) and identify what parts may need to be replaced or repaired and research the cost ahead of time; consider the age and model of your cell phones and identify when they might need to be replaced—the same for computers.

Designate a specific, monthly dollar amount to add to savings.

Be keenly aware of your obstacles to saving; the desire of enjoying things today may be one of the biggest.

Realize that there may be a need that only God can meet—allow Him.

 

Resources and Links:

Nearly Half U.S. Can't Afford Unexpected $400 Bill—link to article

 

Improve Your Faith and Finances:

Striving to be faithful stewards, we should do our part in saving and planning for the unexpected, while trusting in the Lord's provision.

 

Share Your Thoughts:

If you have a question or comment about today's topic, we invite you to share your thoughts.

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