Thirsty for Financial Planning that Works

Creating budgets and taking advantage of other financial planning measures help us to prepare for short and long term, expected and unexpected expenses. We work hard with the intent to earn enough income to cover such expenses, and of course, hope to enjoy a surplus that allows us to build a comfortable nest egg for the future.

Most of us plan for regular expenses relating to housing, transportation, clothing, grocery, insurance, education, etc. If we're wise, we also try to prepare ourselves for unexpected expenses...financial emergencies that occur when the water heater stops working, when the transmission fails, when the kids need expensive schools supplies, or when a spouse walks out. How many times have we experienced emergencies that have cost us more than our budgets or nest eggs could handle?

Unexpected expenses...don't you hate them? You know what I mean. You're happy about your new discipline to save and are proud of yourself for building up your savings account from $50.00 to $1,000.00, when all of a sudden you experience a financial emergency that is set to cost you a minimum of $1,600.00. Not only will it wipe out your savings; you also don't have the other $600.00 (or more) you'll need to pay the expense in full. What will you do?

What about those of you have worked hard and denied yourself some really fun opportunities in order to pay off that $8,000.00 of debt in one year, but now are unable to enjoy being debt-free because you have no savings to handle life's emergencies. So, when the IRS sends you a notice that a previous tax return included discrepancies that now require you to pay the federal government $793.00, your debt-free-self has no money to pay them.

What have your experiences been like? Has an unexpected expense ever left you in the uncomfortable position of trying to decide whether to pay your rent/mortgage or your car payment, whether to buy groceries or your prescription drugs, or whether to keep your cable service instead your internet service? Trust me, you are not alone. I have been there and done that!

That's why I'm thirsty for financial planning that works. I live to help people establish budgets and encourage financial habits that enable hard working individuals to spread their finances around in ways that will allow them to meet their financial obligations while simultaneously building their savings and emergency funds. In essence, I have a passion to prepare people not only to experience the unexpected but to answer it with a nest egg set aside just for it.

What about you? Do you have an "Unexpected" Fund or Emergency Fund to help offset irregular expenses? If so, how do you make it work for you? If not, how do you handle the unexpected when it occurs?