January’s weather led to an unexpected expense and I’m sure many of you had the same experience. My office’s electric bill was huge! I had estimated it to be double the average costs because I knew the heater would be running constantly, but wow! After I recovered from the shock, I picked my jaw up off the floor and found a little peace because I remembered I had planned for an unexpected expense. I’m still unhappy about it, but at least I can pay the bill and I won’t have to do financial planning by candle light.
The fact is that we can budget all day long, but there will always be unexpected expenses. We have to plan for them. We will never get ahead if we just get by living from paycheck to paycheck. Something as small as a new battery for your car can be devastating when we live this way. If you can’t afford the battery, how can you get to work? Then you can’t pay for daily living expenses because you can’t get to work, so your debt increases. It’s a vicious cycle. Sure, it would be great if you were paid more money, but you can’t plan to receive a raise.
When you come see me for an appointment, you’ll be given a goal sheet. The first goal is to establish an emergency fund, which allows us to plan for unexpected expenses. With a more comfortable present, then we can start focusing on your future.
Jonathan Greeson Financial Planning is located in Pikeville. For more information, visit www.jonathangreeson.com. Jonathan Greeson is an Investment Advisor Representative of Retirement Wealth Advisors Inc. (RWA), 89 Ionia Ave NW, Suite 600, Grand Rapids, MI 49503 (800) 903-2562. Investment Advisory Services are offered through RWA. Jonathan Greeson Financial Planning and RWA are not affiliated.