Past Due: Radio 160 – How To Expect “Unexpected” Expenses
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Daniel and Lori heard last week’s show and wrote in a few questions. They seem to continually get knocked down by vehicle and medical expenses, not to mention the costs associated with their children. They’re beginning to feel defeated and are trying to find out what they might be missing so they can begin making real progress.
In today’s show, I shared that Daniel and Lori’s struggles are very common. That rug-pulled-out-from-under-us feeling is normal among the two-thirds of Americans living paycheck-to-paycheck when “unexpected” expenses arise. I also addressed that there really aren’t very many unexpected expenses, but we have to embrace two ideals:
1) We must reacquaint ourselves with reality – most of us grossly underestimate the true costs associated with our lifestyle
2) We must establish a new method of savings – planning for future expenses means incorporating monthly savings today so we can avoid feelings of stress and tension
The good news is, with a little forethought and a new perspective on their standard of living, Daniel and Lori will be well on their way toward their goals, leaving that sense of defeat in the dust.
Kids & Money Contest: I’m looking for stories of parents teaching their kids about managing money and understanding how money works. If you have a great story (humorous, big life lesson, etc) of what to do – even what not to do – please send it to firstname.lastname@example.org by Sunday, June 19th with “Kids Money Content” in the subject line. Entries will be gathered for the next few weeks and the winner will receive Junior’s Adventures, the boxed set of money lessons for children by Dave Ramsey, and a copy of my book, Get Naked: Stripping Down to Money & Marriage.
If you have a specific question, I’d be happy to answer it and further cultivate the wisdom of the Past Due Radio masses. The experiences of our listener base provide plenty of insight we all can learn from; don’t hesitate to ask – I’m happy to help!
Episode 158 – Selling a Car at a Loss to Dump Debt – Sometimes we have to scale back our vehicles when we realize how much they truly cost to drive and maintain