When life happens

aaronSound familiar?:

A monthly bill that gets forgotten; the junker car that finally quits; the water heater that breaks down; a dryer that squeals; the boss telling you your position is no longer needed; the overflowing toilet washing over your new carpet; a daughter who gets sick and you have no more personal days; the computer that goes blue… and the list goes on.

When I was nearing the end of my first get-out-debt-victory, my car suddenly wouldn't start. I don't need to tell you how frustrated I was when I learned I'd need to shell out another several hundred dollars to get ‘er fixed.

life happensThankfully, I had an emergency fund to pay for the repair. Without it, I would've had to skip out on paying down my debts for the month and it would have disrupted my budget in the longer term.

Life happens. Life will happen. And yet, there are some ways we can and need to prepare for the unexpected.

  • Insurance. I have a 30-year term-life policy. Best for those who are in debt and have family to support. You can get a very cheap monthly rate.
  • Of course: the emergency fund. Great for those “life happens” events. Get this fund to $1k or more as soon as you can. It's a priority – especially if you are on a tight budget and getting yourself out of debt.
  • Plunger. Helps to unclog the nastiest of clogs. Even works great in the sink.
  • Spare key. Hide it somewhere near your front door.
  • Prayer. When all else fails – and better yet, before all else fails. Jesus is always listening.

How do you prepare for the unexpected?

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