You probably already understand that saving money is a good thing, but do you really understand the full breadth of the reasoning. It “seems” like a great thing to do, but there are several vital reasons you need to have access to a stash of cash on occasion.
You never know what life will throw your way. Be ready for the next twist or turn in your world, and check out a few important reasons you should always keep a stash of cash.
If you ever need a lawyer
There is a long list of reasons why life may throw you a card which requires the assistance of a lawyer. If you are injured due to the fault of another, you’ll need legal representation to collect compensation for your injuries.
You may also need legal representation for family disputes. Going through a divorce will require that you have competent representation, especially if there are children involved in the split.
When your car breaks down
It’s no secret that cars break down. Even the newest of vehicles have issues from time to time. Mechanical issues on a vehicle can cost a pretty penny, depending on the problem.
Finding the problem can also cost you quite a bit of money. Some mechanical problems take time to pinpoint. There’s often a process of elimination.
You lose your job unexpectedly
It’s always a good rule of thumb to keep six months of income stashed away in the case of a financial emergency. If you unexpectedly lose your job, you could lose everything else you have.
Your financial source is what holds your life together. Give yourself enough cushion to find another job, and continue to live your life as usual with a healthy savings account to fall back on.
You’ll need money if your animal is injured
Thousands of people in the United States have pets. Most pet owners own more than one animal, and vet services aren’t cheap. It’s safer to keep a stash of cash in the case of an animal emergency.
Though you do your best to give your animal the best life possible, their lives are not infallible. Cats and dogs get sick. Animals age just like the rest of us, and sometimes their bodies need special assistance to thrive.
Buying a house takes a substantial chunk of money
Moving forward in life is important to your level of happiness. Buying a house is a commonly joyful experience, but it’s not something that happens without a large chunk of money.
You don’t have to pay for the full cost of your new home, of course. However, you will need a down payment to get the ball rolling on your new ownership.