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If you have an unexpected large expense, like some needed home repair, it can easily be a few months of ordinary expenses. The fact that I normally live off of
by 88913527 5y ago
If you have an unexpected large expense, like some needed home repair, it can easily be a few months of ordinary expenses. The fact that I normally live off of $3.5k/month is untethered from the cost of a roof replacement. You do pay a price for keeping the additional months of liquidity, but to some it's still worth it.
- yardie 5y agoI'm trying to imagine a large unexpected home repair >$3000 that isn't covered by typical planning or insurance and nothing comes to mind. Emergency roof replacement is managed by insurance (you're paying for it). And a scheduled, expensive, non-emergency, usually involves months of planning and permit pulling. Except for a bail money, how many high-ticket items aren't covered by insurance?