Why Does One Unexpected Expense Set Someone Back So Much?

[Crypto_Timothy]

Have you ever tried to save money for several months just to get something very important to acquire or accomplish but only for one unexpected expense to take out most of what you have saved, if not all? You have tried hard to limit unnecessary spending, you pay every necessary bill and try to save small whenever you can the suddenly something bad happens, your car breaks down and needs repair, medical bill comes up or something if emergency just happens. Before you know it, you are back to square one, where you started.

I have had a few personal experiences with this an thats why till date, i always keep an emergency fee with no label. That is simply want they things get out of hand and i need to quickly support myself and to do this comes with a heavy bit of sacrifice because to gain that stability where even when till go terribly financially you can still somehow survive it, you must make sacrifices with even the littlest things you do and how you spend your money especially when you have a set goal that you want to accomplish.
Like in my house, once i enter, if i am holding any cash, i put it in jar. Now the cash are usually transport changes or when i withdraw and i get a change from buying something and i still have my normal emergency fee with no label. Now that jar at home, i know how many time it has saved me from situation where i have no network but i new cash urgently. so all these just came from my own experience with finances, it just something i still do.

[Questat]

What matters the most is how big is this "unexpected expense"? Sh*t happens and sometimes you need a thousand dollars urgently, but sometimes the amount is very big and there's nothing you can do. Life is full of ups and downs and we have to survive and get thru the bad moments. For me, it's not about the money, it's about having the mental and physical strength to get back on your feet and keep grinding. Having a bigger income always helps a lot, so our main priority should be maximizing our income instead of saving money for the sake of having money for a rainy day.

Well that makes our life more challenging due to unexpected expenses that totally drained our savings. And this is another life lesson for us that saving isn't enough, but creating more sources of income either through side job or investments that will help us eventually achieve financial stability.

But we all know the process isn't that easy. It takes so much positivity and motivation in life so we'll be more driven to keep grinding. Because the moment we stop, there will no longer be chasing of chances and opportunities in life.

[lombok]

I have had a few personal experiences with this an thats why till date, i always keep an emergency fee with no label. That is simply want they things get out of hand and i need to quickly support myself and to do this comes with a heavy bit of sacrifice because to gain that stability where even when till go terribly financially you can still somehow survive it, you must make sacrifices with even the littlest things you do and how you spend your money especially when you have a set goal that you want to accomplish.
Like in my house, once i enter, if i am holding any cash, i put it in jar. Now the cash are usually transport changes or when i withdraw and i get a change from buying something and i still have my normal emergency fee with no label. Now that jar at home, i know how many time it has saved me from situation where i have no network but i new cash urgently. so all these just came from my own experience with finances, it just something i still do.

Placing your money left over from your salary in a money jar after you get out of work is a concrete safeguard from failures of the banking system. To maintain financial independence of yourself, it becomes necessary to make certain sacrifices in terms of expenditures on insignificant things in order to ensure the basics for your survival in case of a sudden disaster. Saving money that is not planned for any definite purpose acts as an ideal tool for the sake of dealing with emergencies.

The unpleasant lessons learned by one in the past helped create a mechanism for self protection that is very rational and down-to-earth. The tranquility of mind when encountering financial calamities comes from physical readiness kept on the table at your home.