Unexpected expenses can cause a lot of stress; especially if your budget is not prepared for surprise expenses. Not only is there stress around an unexpected but immediately required large cash outlay – the event has the potential to cause additional stress relative to how the issue can affect your life.
Take my recent issue as an example. I was going about my business and driving through a construction zone. My thoughts were on where I was going and what I would do when I got there when BOOM! All that seemed important at that moment was immediately put aside. TWO flat tires! Not only were they both flat, but my rims were also damaged far beyond repair. NOT only that, but my truck was also immediately inoperable. Have you ever tried driving on your rims? Me either. Until last week when I had to move out of traffic and wait for a tow truck. That was a new experience. The police responded and informed me I was not the only one to have this issue. In fact, someone ahead of me (still on the side of the road) experienced the same an hour before me.
My two flat tires and trashed rims is a prime example of an unexpected large expense. Four new tires and four wheels was not in my budget or in my plan but suddenly, I had no choice if I wanted to drive my vehicle. I’m guessing, like me, you are also dependent on your mode of transportation.
I have a passion for financial wellness because I have not always been financially well! In other words, I have lived on both sides of the equation and even in the middle. I can say that being financially well relieves a lot of stress. However, this expense was more than a slush fund kind thing.
What does it look like to be financially well? The first step is to create a budget and track it regularly. Never spend more than you make. It is important to note that your level of income has NOTHING to do with your financial wellness. Living within your means is being responsible with your resources. God blessed each of us with time, talents and treasure and He expects us to use all for His Kingdom work as well as be responsible with our handling of resources. Remember, it all belongs to Him, I am only the shepherd of what he allows me to have.
See the parable of the talents in Matthew 25, beginning with verse 14. The story is summed up in verse 29:
“To those who use well what they are given, even more will be given, and they will have an abundance. But from those who do nothing, even what little they have will be taken away.”
In the case of unexpected expenses, I suggest you have a line item of savings for such emergencies within your budget. When the unexpected occurs, it’s not usually fun but the stress is reduced because you are prepared and have accessible funds to meet the immediate need.
Financial Health is one of my nine pillars of health that I teach and coach on. I am available to help you in this area. My business education (MBA) focuses on finance. I’m also a Dave Ramsey graduate who rang the bell! Let me help you too! Schedule a free 30-minute call with me to learn more.
Grace and peace to you!
