If there is one take away (from this post), protect your contingency fund.
In other words, you need to keep some money ring-fenced, in case things go pear shaped tomorrow.
I’m lucky, I don’t feel the cold. But i’m not exempt from financial worries, and I like a warm house.
Let me paint a picture… where your house central heating has stopped working, the plumber has come round, and things are not yet repaired.
You think, this is going to be costly, i’m going to have to use my contingency fund.
You’ve been in your house for a year, slayed the dragon, and are rebuilding.
Congratulations you are awesome. You really are :) But it’s time for phase two.
Phase two is about protecting what you’ve rebuilt. There is no way you are going to lose this.
In case you haven’t noticed, the picture (mentioned above) is approximately my situation.
The first step in managing yourself is to make a list of expenses, when they occur, for the year.
This will give you the ability to identify what expenses are coming up, how long you need to plan (save) for them, and (hopefully) avoid touching, replenishing the contingency fund.
I cannot speak for the person reading this, but i’m feeling better just writing this. I feel more in-control, and able to plan the finances.
There is a part of me who is @$^&!!# off with having to do this. I’ve always like being impromptu.
But I need a place (called home), where I can be that impromptu milesd.