Sorry for being so lazy in my blogging (or NON blogging). Apparently I’ve been busier than originally anticipated. Anyway, luckily I’m back and I have a personal budgeting/emergency story.
My sister and I participate in a city basketball league in our area. The other night we had a game where my sister dislocated her shoulder TWICE! (She was a bit irresponsible and decided to go back into the game when she put her shoulder back in the first time and had rested for about 30 minutes…back idea cause it came out AGAIN!)
The second dislocation was much worst than the first and we had a very hard time getting it back in. During this whole interlude, we were both very aware that if it came down to it, she’d have to go to an instacare or hospital. HOWEVER, her insurance is pretty much non-existent.
That’s where the budgeting aspect comes in. At the time we were both nervous about not being covered by insurance and how much it would cost her. At the same time, however, she knew that she had enough money to cover the cost because she had budgeted for emergency situations.
She puts aside money each month in an “emergency” fund. Basically, she makes sure that she has the capabilities to pay for an accident. While she did this because her insurance wasn’t really existent, this strategy of saving can, and should, be practiced by everyone-insurance or not.
We have all heard how important it is to save for a rainy day. Sometimes we just brush it off and acknowledge that it’s a good idea, but don’t take the time to make a plan and actually follow through.
It’s essential to save for those times when you have unexpected expenses.
Oh-by the way-a doctor showed up for the game after us and put it back in…turns out she didn’t end up needing the savings, but she COULD have…and if she did, she would have been prepared!
Hi, cool post. I have been pondering this topic,so thanks for posting. I will certainly be coming back to your posts. Keep up the good work