Plan for unexpected expenses in your budget from "summary" of The Total Money Makeover: Classic Edition by Dave Ramsey
Life happens. Whether it's a car breaking down, a medical emergency, or a leaky roof, unexpected expenses can arise at any time. That's why it's crucial to incorporate a buffer for these unforeseen costs into your budget. By planning for unexpected expenses, you can avoid derailing your financial progress when emergencies inevitably occur. When creating your budget, it's essential to factor in a category specifically designated for unexpected expenses. This could be a percentage of your income set aside each month or a separate savings account dedicated to emergencies. By proactively setting aside funds for unexpected costs, you can build a safety net to protect your financial stability. Having a plan for unexpected expenses not only safeguards your finances but also provides peace of mind. Instead of feeling stressed or overwhelmed when a sudden expense arises, you can approach the situation calmly and con...
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