Makin' Money

Budgeting for Uncertain Events

Chris Farrell Nov 10, 2011

Here’s a list of reasons why we save. A lot of things can go wrong.

  • Age to die
  • Need for extraordinary health care
  • Close relative needs money
  • Loss of uninsured items
  • Replace items that wear out
  • -Automobiles
  • -Roof replacement
  • -Water heater, furnace, washer/dryer
  • -Painting inside and out
  • Etc.
    I

I especially like the “Etc.” You can add to the list your own uncertainties. Taken altogether, the list of uncertainties is why it’s so hard to know how much to save for today and for tomorrow.

The list comes from a recent paper by Bud Hebeler. You can look at on his website here. I’d recommend taking a look at it.

As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.

Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.

Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.