Life is full of surprises, and some of them cost a lot of money.
No matter who or how old you are, having a stash of cash squirrelled away will help when things go sideways; and sometimes they do go sideways.
That’ll Be $5,000, Thank You
Have you ever noticed that home repairs always seem to cost about $5,000? Need a new roof? $5,000. Need to waterproof your basement? $5,000. Need a new furnace? $5,000. Need new windows? Yup, that’s right. $5,000. Home maintenance has a funny way of needing to be done at the most inopportune time; and no, your home insurance doesn’t cover it.
The Hidden Costs Of Driving A Car
As CAA’s Driving Costs Calculator shows, there’s more to the cost of your vehicle than its purchase price; gas, repairs and auto insurance all chip away at your wallet. Repairs especially have a sly way of sneaking up on you; of course, they’re not subtle when they leave you stranded on the side of the road and in need of a tow.
An Apple A Day, Keeps The Doctor Away
Having an apple a day while on vacation isn’t always an option. Whether due to an illness or accident, a trip to the emergency room while out of the country can be costly without travel insurance. We’re not talking chump change either.
A New York Times article described the costs of a trip to the emergency room of two people in need of a few stitches. The first, a woman who gashed her knee at a barbeque and needed three stitches was charged over $2200; and the second, a toddler who fell off the couch and needed some skin glue to close the wound rang up a bill of almost $1700. In reality, these are minor injuries, imagine if it were more serious. The article continues to state that a "day spent as an inpatient at an American hospital costs on average more than $4,000".
What Do You Mean You’re Letting Me Go?
It happens to everyone at one point or another in their life; you find yourself suddenly unemployed. For times like these, most financial experts would say that you should have at least three months’ worth of salary stashed away.
Building a nest egg, along with everything else, can at times feel like a never ending battle, but remember saving money is a marathon, not a sprint and every little bit gets you that much closer to your goal.
Reach Your Savings Goals Sooner: See If You Can Save On Insurance
Whether it’s car insurance, home insurance, life insurance or travel insurance, overpaying for the insurance you need means there is less money in your wallet. Compare insurance quotes today at InsuranceHotline.com to see if there’s money to be saved that can be added to your nest egg.
