Planning For Emergencies

Do you remember when you were talking about buying that perfect home and you're all excited and it was great. Well, I have talked before about what happens 5, 10, 15, 20 years afterwards, and I can tell you what happens, things go wrong.?

You need a new roof, you'll need new windows. You might need a new air conditioner, or you might,? like my husband and I, need a brand new septic system. We've owned our home for 28 years, and just about two weeks ago, I said, “Honey, there's water on the floor, what's going on?”? He went to the source of the water and discovered it was our drain to the septic field. Jim called in a professional, and they told us the problem and found a short term solution. The long term was our septic field.? To correct that would cost upwards of $10,000 and we had to wait until they could fit us in to correct the larger problem.?

That incident alone does cause panic - continuous flow of water on the floor.? What didn’t cause panic was how we would get the funds to fix the problem.? Are you planning or panicking about where we are going to get the money when a disaster strikes?? We had planned for it and knew we had to budget for unknown household expenditures - whether the well, the septic, a natural disaster, things happen and you should have a plan to deal with them to avoid added stress to an already stressful situation.

If there's panic because there is no plan to pay for an unexpected expense, now is the time to address where you would get the money.? Knowing where to look when it comes to savings and/or leveraging money to pay for an unexpected expense is critical to building and keeping your hard earned money.? Home improvements are a big area of unexpected costs, so too are medical expenses, loss of employment, vehicle repairs, etc., having a plan to address those in time of need is part of the overall DESIGN we help our clients achieve.?

In understanding and budgeting for the long term, we want to be sure that there's enough money somewhere to cover those big ticket items that will happen. We don't know when, but when they happen, you need to have a financial design strategy that's going to allow you to be able to make that payment and keep going on with your life without panicking.??

Are you a panicker or a planner? If you're in the panic mode, and want to be more in a planning mode, I can help you to get there, give me a call.