Financial Stress from Unintended Expenses Discussion Even wi

Financial Stress from Unintended Expenses Discussion Even with our best planning, unintended expenses can cause us financial stress For many people, unexpected bills can throw a monkey wrench into the best-planned planned out your monthly budget and it appears you will have 200 dollars left for savings at the end month. However, your car breaks down unexpectedly and it will cost 500 dollars to replace the alternator. budgets. Imagine you have of the Instructions: For your first post: Write out as many options as you can think of to take care of the car repair (you can even suggest not making the repair right away, but then you need to explain how you will get to clas else you need to go). s and anywhere For your first reply post: Choose one idea from another student\'s post and explain both the advantages and disadvantages of the option. For your second reply post: Choose what you feel is the BEST option from all which are posted. Explain why this is the best option for you at this time.

Solution

The options that can be available for many people .

1.Create a Budget -The budegt will give you the control that we need over our finances.

2.Create an Emergency Fund -Although a car repair can be expensive if we know we can cover it by the emergemncy fund to cover it.It is also easier to use the money in our budget the way we planned if we know we have the extra money in the bank ready to cover the unexpected emergencies that may crop up.

3.Getting outside Help- A financial planner can help you create a long-term investing strategy. If you are feeling overwhelmed by debt we can also use a credit counseling service. We can also take a financial class that coaches us through budgeting and other aspects of our personal finances. .

It is my opinion the best way to manage this situation is to curtail the expenses and create a proper budget so that any unexpected stress can be handled properly.