Plan for the unexpected from "summary" of You Need a Budget by Jesse Mecham
Every month, without fail, there are unexpected expenses that pop up. It's like an uninvited guest crashing your well-planned dinner party. These surprise expenses can throw your budget off track if you're not prepared. That's why it's crucial to have a plan for the unexpected. When you create your budget, it's important to factor in these surprise expenses. Set aside a portion of your income each month for a rainy day fund. This fund will act as a safety net when unexpected expenses arise. By planning ahead, you can avoid dipping into your savings or going into debt to cover these unforeseen costs. Think of your budget as a roadmap for your financial journey. Just like you would plan for detours or roadblocks on a road trip, you need to plan for unexpected expenses in your budget. This proactive approach will help you stay on course and reach...
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