Planning Ahead Makes Life So Much Easier!
Mr. Bean and I are big “What If-ers.”
We’ve got flashlights hung around the house in case the power goes out. I have an entire document of passwords and instructions in case something happens to us. And we take our finances seriously, budgeting today so that tomorrow is easier with retirement savings, insurance, and an emergency fund.
Today, I was so happy that we take our what-ifs seriously because it made what could have been a financial and day-ruining event, into a small inconvenience.
Today’s Adventure
This morning, I dropped my kiddos off at their charter school for their 3-hour annual standardized testing. I figured I’d have enough time to get a few errands done, eat breakfast, and start my packing list for our upcoming trip.
After completing errand #1, I walked back out to my car only to turn the key and NOTHING HAPPEN! The battery was dead!
Oh Crap! I have to pick up the kids in 2.5 hours. I called the hubs to give him the warning that he may have to take an early lunch to grab the kids. Then I called AAA. They told me a tech could get to me in about an hour.
So I walked back into the mall and grabbed a small coffee and breakfast sandwich. I found a terrace seat to enjoy my breakfast while looking up new car prices, just in case it’s more than just the battery.
In just under an hour, the tech arrived and tested my battery and car. She said “yes, it’s just the battery dying because it’s 4 years old” and offered to change it right there and then for $200. I ‘hymed and hawed’ for a few seconds, knowing I could get it cheaper at Costco, but at the moment, I was willing to pay the price for the convenience because I knew we could afford it.
For that extra $80, Mr. Bean didn’t have to miss half a day of work running around getting the kids, waiting in line at Costco, and fighting under the hood with the battery. It’s worth it.
The tech changed the battery in the mall parking lot, I paid her, and I was still able to finish my errands and pick up the kids in time. Thank goodness we planned ahead.
Make Sure You Have The Right Insurance
Having the right types of insurance can be a game changer.
Everyone knows that if you own a car, you need to have car insurance but we also have AAA. My dad always insisted on it growing up and we think of it as another form of car insurance.
Many car insurance companies offer roadside assistance nowadays so check with yours. For just under $10 a month, I know that we will be taken care of and who to call if our battery dies, a tire pops on the side of the freeway, or my kids lock the keys in the car, again.
AAA has saved me at least once a year, usually for no extra charge, and I can not imagine how much harder today would have been without it.
Make sure you take a look at your life and get the right insurance to keep you covered in case of emergency.
Planning Ahead- Put Aside Money In An Expected Expenses Account
Having money set aside specifically for life’s little disasters can make all the difference.
We own 2 cars. With 2 cars come 2 oil changes twice a year (island living cuts down on mileage), 2 sets of tires every few years, 2 batteries every few years, 2 registrations, and so many other expected costs.
These costs are going to come. It’s not a matter of if, but when. So, we put away money for them every paycheck as if they’re a regular bill. We have an HYSA (High Yield Savings Account) designated for Expected Expenses. The money sits there, earning interest, growing every month, just waiting to be used.
When a day like today happens, we can easily handle the costs without breaking the bank. We simply put it on a credit card to earn cash back, then pay it off the next week from our Expected Expenses account.
Take an inventory of what you own and manage: cars, homes, kids, pets, your health, etc. Figure out the costs you know will happen and break them down into small monthly bills. By putting away a little bit each paycheck, it will be so much easier to handle than a giant $200 or $2,000 hit to your budget.
Build a Strong Community
When my car died while my kids were at school on the other side of town, I didn’t need to panic because I knew I had options. If Mr. Bean hadn’t been available, I knew that I had a list full of other nearby family and friends that I could count on to help pick up my kids.
It can be super hard to build a strong community, especially if you are new in an area, but it is so important.
As homeschoolers, we meet so many military families who are constantly moved around the globe and know no one. One of the first things they often do is find a community of people they can count on. (I’m on a few Emergency Contact lists 🙂
No matter how much of an introvert or homebody you consider yourself, (ME! Right here!) get out there and meet people. Attend those annoying school events with other parents. Invite a neighbor to have cookies or play at the park. Just smile and say hi. You’d be surprised at the connections you make.
Or if you don’t have anyone cool through a school, job, or neighbor, join a local Facebook group and attend some events with like-minded people. Build yourself a basic list of people you can call if you’re stuck in a parking lot and need to pick up your kids.
Planning Ahead Wrap-Up
Today, I got to experience the outcome of the work Mr. Bean and I have been doing for years: Planning for the What-Ifs. I understand that we are in a very privileged place right now, but we have worked hard to get where we are.
Mr. Bean has worked his way up in a boring job to ensure our family has a secure income, even when he doesn’t exactly love it. We avoid unnecessary spending in our daily lives so that we can feel secure in our future as well as enjoy the important things, like our family trip.
The rules are simple: spend less than you earn (or find ways to increase your income if it’s impossible), save for financial security, and invest for financial independence.
Have you ever experienced a mini freakout like I did today? How did you handle it? Did you have the funds and connections to turn a major freakout into a minor inconvenience?
Leave a comment below and join the conversation.
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Great and simple example of why it’s so good to have an emergency fund (and to actually use it when you need it!). Sorry that happened to you, but so glad you were prepared. I have USAA auto insurance, and their stellar roadside assistance has saved me on many a similar-to-yours occasion!
Just that little bit of planning helps make such a difference! So glad I had it and glad you do too!