Throughout life, there are times when you’re going to need money in a pinch. Having emergency savings is a great way to help reduce the amount of stress you undergo when these instances occur. Here are five emergencies that you should be saving your money for.
When your fridge decides to break, you can’t just go without one until you can save up the money. Rather, you’ll need a new one to save all your food currently in it and to have cold food to live on. Other appliances like your washer and dryer are vital as well. Having the money available to replace appliances when they break is a big necessity. Otherwise, you’ll be throwing it on a credit card or trying to get financing at the time.
If you’ve ever experienced unexpected tooth pain, you know just how much it can hurt. It can distract you from your day to day and make a trip to the emergency dentist a necessity. In most cases, you’re going to need to have a tooth removed or a similar procedure. These don’t come cheap. Ensuring you have the insurance and money to have the procedure performed can do wonders for getting you out of pain fast.
Another big emergency expense on the list is car repairs. When your car unexpectedly breaks down, you don’t have many options. You need to get it working again fast. Most repair shops won’t bill you, so you’ll need to have the cash on hand to get your car repaired. Otherwise, it’s going to be difficult just getting to work, the store, and daycare.
A backed-up septic system or a broken window can really create a massive issue with your home. Unfortunately, you can’t wait to do repairs like these, especially in the dead of winter. Having emergency funds saved for these types of home repairs can help to save you from stressing out later trying to figure out where you’re going to get the funds from.
While you may feel secure at your job right now, you never know what could happen. From shutdowns and layoffs to firings, there are various uncertainties in the world. By having an emergency savings account, you can ensure you have some money to live off of while you’re searching for a new job. This will allow you to find the right job instead of searching for anything quick to get money.
Life throws everyone curve balls from time to time. Having emergency cash saved up so that you can get through those curve balls with ease is a must. The above are five emergency scenarios you should be saving up for.
Brooke Chaplan is a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most of her time hiking, biking, and gardening. For more information, contact Brooke via Facebook at facebook.com/brooke.chaplan or Twitter @BrookeChaplan
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