The birth of this website is a direct byproduct of the financial struggles and unexpected expenses of my wife and I. We started our life together with practically nothing and had very little income. Every single expense had to be scrutinized and discussed because each purchase could have brought our balance below zero. I have to admit, it was a tough time, but I am happy to say that we are slowly coming out of this.
If you would dig back through the archives, you would find statements regarding the poor condition of our 2000 Volvo S80. Money was tight and the car was struggling, but we were starting to make some headway with our finances. Our attitude toward life was lighter, and there was a light at the end of our tunnel of debt. That’s about the time that our tire exploded… Because the other tires were worn, we needed to replace them all. Oh, and we needed to replace the brakes and rotors as well. It was a hefty bill, and it threw us back into the darkness of debt.
That day was definitely a defining moment in our lives, and I don’t think I will ever forget it, but fortunately we have risen from that darkness and continued to press forward. We now have a more dependable vehicle and have a good handle on our debt.
If you are still “within the darkness of debt”, don’t worry. I think everyone has been there. Hopefully you have made the decision to pay off that debt so that you can leave all the worries behind. Once you get a handle on your finances, unexpected expenses suddenly aren’t that big of a deal.
The reason I can say unexpected expenses aren’t a big deal is because we just had one…and it wasn’t. We were walking out of Best Buy and saw the soft rear tire on our Jeep. We filled it with air, but it was soft again the next day; that’s when I saw the nail. The guys at Firestone told me that it was not patchable, so I had to buy a new tire for $143.
If this had happened a year ago, I probably would have felt sick to my stomach. We would have had nothing in savings and I would have had to put this unexpected expense on the credit card, hoping to pay off the balance when the statement came in the mail.
But today, I took out my debit card without fear because we had anticipated the unexpected! Every month we budget $100 for car expenses, so the money was there and I was not stressed in the least. It was a great feeling!
I hope that you are inspired by this story. If you are not currently putting money aside for those unexpected expenses, please do so as soon as possible! You will feel more at ease in the present, and you will definitely have less stress when that crazy expense comes your way!
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.