From your Digest
A friend’s father, who was a banker, once told me this: The tires on your car will eventually wear out. Your house will need a new roof at some point. Accidents and illness will happen. Most of the financial problems I see at the bank happen because people seem to have no idea that these things will come up. So, when the car breaks or the roof leaks, they’re plunged into a financial crisis. Plan for problems to occur. Put money aside every paycheck so you’ll have money to pay for the new tires or the medicine not covered by insurance or whatever.
I took his advice and it has stood me in good stead for over fifty years. Plan for problems you can foresee and add a little in there to cover problems you can’t predict. You’ll be glad you did.
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