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Plan for unexpected expenses from "summary" of The Only Investment Guide You'll Ever Need, Revised Edition by Andrew Tobias
One of the most important aspects of managing your finances is being prepared for unexpected expenses. No matter how well you plan and budget, there will always be unexpected costs that arise. Whether it's a medical emergency, car repairs, or a home repair, having a plan in place for these expenses is crucial. One way to prepare for unexpected expenses is to build an emergency fund. This fund should ideally cover three to six months' worth of living expenses. By setting aside a portion of your income each month, you can gradually build up this fund over time. Having an emergency fund will give you peace of mind knowing that you have a financial cushion to fall back on when unexpected expenses arise. Anot...
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