5 Shock Expenses Nobody Expects

Most of us have a pretty good handle on our personal finances. We’ve got all our loans covered, the mortgage is set, and we even manage to spare a little for the pension pot. OK, we might not be ‘well-off,’ but we’re just about managing. Then that huge bill we never expected lands on the door mat, and suddenly we can be spiraling into financial problems.

 

Here are just 5 of the shock expenses nobody expects. Can you budget for some extra savings each month?

 

Health

A sudden illness can leave you at home feeling pretty miserable for a long time. Sure, we can avoid the risks of serious health complaints by eating right and quitting alcohol and smoking. But sometimes illness can come out of nowhere, but if you can’t work, you might find life suddenly gets a lot tougher. It might be worth investing some of your savings into additional health care to get you back on your feet and to work again.

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Car

Most of us have to commute to work by car. Would you struggle to do your job without one? Keeping your car on the road can be tricky if you don’t have it regularly maintained. And if someone is driving carelessly and damages your car, are you covered for a replacement? This Lavent Law car accident attorney suggests that most car insurance policies don’t cover for all of your expenses, leaving you out-of-pocket. Where are you going to find that cash to get your car roadworthy again?

 

House

Most of us feel safe and secure in our own homes. After all, we each spend a lot of money each year decorating it and upgrading it, so we’re comfortable. So when something goes wrong, like the hot water boiler breaking down, it can be a pretty big shock. Storm damage can also prove expensive if your home insurance is not fully comprehensive. What if someone vandalizes your home? None of us could bear to leave our home in that state, but what can you do if you don’t have the cash to fix it?

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Pet

Even if you have pet health insurance, there can often be complications that you are not covered for. As your pet ages, or develops new conditions, you might find they are not covered at all. Of course, you can’t ignore your pet if he is injured or unwell, but finding the cash for a big veterinary bill is tough. If you think your insurance is lacking, it might be time to put aside a little each month to cover the ongoing costs of pet care. Older pets tend to need a lot more professional care than younger ones.

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Vacation Accident

Travel insurance, like the other insurances we’ve discussed, can sometimes fall short. But even if you are covered, there is no guarantee they’ll pay out before you have. Claiming back costs and expenses means you must have the money there to pay the bill in the first place. If you had an accident on vacation, could you afford international medical attention? Try to save a little each month in your own emergency pot.

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