Many people prefer not to think about the unexpected. The emergency. Critical situations. Or how to prepare for them. I am a bit of the opposite; I tend to over- prepare; think and plan ahead more than I need to. While this can be bad at times, in other cases it can be very good. Just for daily planning, or for those emergencies you hope never but happen, but know that most likely, one will.
Did you know that even the Bible talks about planning for the future? I believe it is twice in Proverbs, and goes something like this: "The prudent man forseeth the evil and hideth himself..." If the Bible tells us that planning for emergency is wise, you can be sure it is something we all need to do!
There are a few ways to plan for unexpected emergencies. The first that comes to my mind is a savings account. I try to put aside just a little bit each month, so we have it when something comes up. Whether it's an unexpected medical bill, etc. having that "nest" in the bank is quite comforting! With the economy the way it is right now, it may seem impossible to put money into savings each week or month (depending on your pay schedule). However, it is easier than you think. Cut out the soda for one week, and see how much you can deposit in your savings account that way! Or maybe pass on that McDonalds stop and just eat at home. The money will pile up faster than you think! It is also wise to start your children saving money when they're young. There are multitudes of tools and methods available to help your children learn the wisdom of saving.
Another way to prepare ahead is by having insurance. Life insurance, health insurance, auto insurance...all of these are various ways to "plan ahead" and protect your emergency funds nest. If you have medical insurance and a family member ends up in the hospital-you won't be pulling money out of that savings account unnecessarily. If you're in a car accident, having insurance will usually cover at least most of the repair cost. AAA is another great way to protect that nest; I don't know how many times we have been on the side of the road somewhere, needing a tire change, a tow or a battery jumped and AAA saved the day. That is a good investment for planning ahead!
How about your family? Do you have a "nest-egg" that you protect? Are you teaching your kids to plan ahead and save? Please share any hints or tips you might have!
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