The top five unexpected costs which could catch you out this year

I read an article titled “The top five unexpected costs which could catch you out this year”, which made some simple but crucial points that aren’t obvious to everyone.

  • Car Repair
  • Tech Breakdown
  • Vet Bill
  • Washing machine repair
  • Opticians bill

A lack of savings 

This is the biggest reason people make rash decisions, like getting sudden loans. It’s also a large reason many companies fail. Some unexpected cost occurs and you don’t have the cash around in an account or somewhere to pay for the repairs or a replacement.

Preparing for the unexpected

I hadn’t realised but saving £3 a day adds up to £1,095 a year. That’s a lot of money to get you out of a jam. It is also £21 a week or £84 every four weeks. So it’s not so trivial but it is also the cost of

  • a beer, coffee or other drinks
  • a magazine
  • snacks


A few years ago, my wife and I started a budget along similar lines. Stuff is going to go wrong during the year that needs addressing, and that means cash. Borrowing money makes it more expensive because you pay the loan + interest, and while you’re paying the loan, you have less money for your life. In effect, you’re paying more than you should, and you’re wasting any savings you might have got by shopping around to fix the initial problem. 

The great thing is that while many of the problems listed have occurred to us in recent years, our budget planning has saved us.

Car bills have been the most common challenge and they can add up quickly. When you only have one car, you cannot go long at all without it. Tech is also crucial to us, like many it’s key to running our lives. Phones and the like have had their problems, and quick fixes and replacements are critical.

Assuming investment will be required at some point or points during the year and planning for this has saved our bacon a bunch of times.

So, I share this because these concepts have really helped us. They’re not new but I do like how simple this article makes the process. Just £3 a day or one beer. That is doable.


Unfortunately, the article I refer to no longer exists, so I have removed the link to it.

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