How to Deal with Unexpected Expenses

The Money with Katie Show

Money with Katie

Self-improvement, Education, Business, Investing, How To

4.8 • 1.3K Ratings

🗓️ 26 April 2023

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

“Dude, why is being alive so expensive?”—an actual sentence I said aloud to Henah back in January when my dog needed surgery, my husband and I got a giant tax bill, Henah’s travel insurance wouldn’t come through, and a formerly in-network doctor informed her she owed them a large sum since they were now (surprise!) out-of-network. (USA! USA!) One of the rudest awakenings of adulthood is the realization that simply paying for the boring stuff eats up a lot of your income, which can be incredibly demoralizing when you’re trying to make progress. So which tactics (both financial and psychological) can help you plan for the mundane or unexpected? Will this ever stop, or do your financial problems just scale proportionally with your net worth? Learn more about our sponsor, Vin Social: https://www.vinsocial.vip Learn more about our sponsor, Droplette: https://droplette.io/. Use promo code MONEYWITHKATIE for 50% off. Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice Transcripts can be found at podcast.moneywithkatie.com. — Mentioned in the Episode Money with Katie blog, "Being Poor is Expensive": https://moneywithkatie.com/blog/the-paradox-of-riches-being-poor-is-expensive Preventive care services in the US: https://www.healthcare.gov/coverage/preventive-care-benefits/ — Follow Along at Money with Katie: https://moneywithkatie.com/ Watch on YouTube: https://www.youtube.com/@MoneywithKatie Follow Money with Katie! - Instagram: https://www.instagram.com/moneywithkatie/ - Twitter: https://twitter.com/moneywithkatie - Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2 Follow the Brew! - Instagram: https://www.instagram.com/morningbrew/ - Twitter: https://twitter.com/MorningBrew - TikTok: https://www.tiktok.com/@morningbrew Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome back to this week's episode of The Money with Katie Show, Rich Family.
0:10.3	I am your host, Katie Addie Tossant, and this week we're talking about the hashtag Shock
0:15.5	Factor that comes with unexpected expenses.
0:25.7	But first, allow me to regale you with a story.
0:31.3	I will never forget standing outside of the Eatsies on Lovers Lane in Dallas, Texas when
0:36.8	I received the phone call that ushered in my first full-time job offer.
0:42.6	Because when the recruiter told me my official adult salary, I had to cover my mouth with
0:48.3	my hand, $52,000.
0:55.1	I had more money than God.
0:58.0	Listed out on a pharmaceutical grade in Dorf and Cocktail of Pride and Financial Abundance,
1:03.6	my mind immediately just started racing to plan for all the incredible things I was going
1:08.2	to buy with my new monstrous income.
1:11.9	A Louis Vuitton bag, Whole Foods shopping trips instead of Trader Joe's, like the
1:16.3	Pleas, dresses that didn't come off of a sail rack.
1:19.2	I really could not believe my good fortune, and to this day, still one of the most surreal
1:24.4	experiences of my life.
1:29.6	Then a few weeks later, I got a bill in the mail, $32 for my August water usage.
1:36.5	Wait, I said allowed to myself still suspending the envelope in mid-air in my empty apartment
1:42.5	kitchen.
1:43.5	I have to pay for water.
1:47.1	And thus began my month-long painful realization that extends to this day that being alive
1:52.5	is expensive.
	...

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