Our dog, Anna Banana, was the most ball-driven dog I have ever met in my entire life. She had no other thoughts when someone was holding a ball. We had friends who lived on a lake and she loved it when we threw the ball from the patio tumbling downwards toward the lake. There was a huge grassy area where she would run down and have the best time. This went on for a few years. She loved going to the lake so much that as soon as we turned the corner, she would start whimpering with excitement.
One day while we were there, we threw the ball and instead of running to catch it after it bounced, she caught it directly in mid air. In doing so, it knocked out two of her teeth and broke two other teeth. This required emergency dental care. We were fortunate enough to have the means to take care of that expense, but only because we had been planning ahead.
Frequently, pet owners are caught off guard by these emergency vet bills, which tend to end up on a credit card. When they do, we end up paying an exorbitant amount of interest. However, as pet owners and fur baby parents, we don’t feel like we have many other options because we have to take care of our fur babies. I mean, that’s just part of what we do, right?
That’s why it’s important to plan for future expenses. We often don’t think about it until we actually need it or until someone mentions it. So, I’m here to tell you about setting up an account for these future expenses. This is something beyond just an emergency fund as these are life expenses that don’t happen every day; but when they do, they can be painful. Planning for these expenses can make a tremendous difference in how we feel about our money.
When we have money set aside for these particular expenses, we feel more in control. We don’t feel as reactive. Life just feels easier. We don’t have to worry about adding another monthly bill to our expenses because we have the money set aside for these life emergencies ahead of time.
If you’ve experienced life emergencies that have thrown your finances off track and you would like to learn a different way, you have a couple of options available to you:
1) You can download the Blue-Collar Budget, which specifically lists some categories to consider.
2) Contact me for a complimentary consultation call to see if financial coaching would be a good fit for you.
Get ahead in 2024 by becoming proactionary rather than reactionary!