As I write this week’s post I am reminded of the importance of saving for an emergency.
We never know when something unexpected will happen, and don’t be fooled- it will happen!
That is why it is important to keep a chunk of change around just so you’re not taken by surprise.
Here is what has happened to me (and how you can learn from my mistake!).
I am in the process of purchasing my first home and I try to visit the build site every other week. Now, I have been warned not to drive through the street since it is a construction zone and there are nails on the ground, but I ignored that advice. I get so excited I drive right up to my future home, got out, started taking pictures and looking around, one time I forgot to put my car in park!
Anyways, I was walking up to my car and noticed I had a nail in my car AND the rubber had split on the outside of the tire. Since the tire wasn’t flat I would not have been as concerned about a nail in the tire but the tire was ripped so I knew I needed new tires ASAP!
I go to my local auto shop and tell them I need tires quick and I will be in the next day.
Once I go to pick up my car I get the dreaded bill. I was expecting maybe $400-$600.
Oh boy was I wrong!
I had a whopping $1200 bill for four tires! I couldn’t believe it.
That definitely made a dent on my finances.
**The moral of the story here: create a habit with your finances that you dedicate a certain amount of percentage to put aside each pay check so when the inevitable happens you are prepared!
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