Well, it happened again: that “rainy day” expense you’d been planning on saving for caught you off guard and left you standing outside without an umbrella. Whether it was having to replace the air conditioning unit or needing to take dog, cat, AND lizard to the vet, unplanned yet inevitable expenses (usually costing upwards of $400) can definitely put a cramp in your vacation fund’s style.

Just in case being “all wet” and having to push back that already overdue vacation isn’t motivating enough for you, here are three more reasons to finally start weatherproofing your savings for the next rainy day:

     1. Your health matters. Unfortunately emergencies or medical issues happen every now and then, and putting off treatment of them for any reason is counterproductive to your financial situation, your family and your future. If you’re not able to work because of your health, a medical emergency savings would give you peace of mind until you make a full recovery.

     2. Your credit matters.  Since it’s in everyone’s best interests to be debt free, having an extraordinary payments fund prevents you from having to run up your credit cards, moving balances from one card to another, or having to take out a loan.

     3. Your time matters. If you have to pay for an extraordinary expense on a credit card, it takes an average of 12-18 months to pay off the balance of that payment alone. Even if you wound a way not to use credit, your budget, regular expenses, and “fun money” will still take the hit and keep you at a deficit for longer than necessary.

The moral of the story? Start saving for those extraordinary payments that come around at least every three years. If you’re not sure how to get started or just need a little extra encouragement to make the move, contact us today. It’s our passion to help you prepare for any type of weather.