Are you prepared for unexpected home costs?
Unexpected home expenses can catch you off guard...
Here are three practical ways to ensure you're financially prepared for any curveballs:
1) Build a safety net.
Setting aside a small amount each month, even as little as $50, creates a financial cushion for those unforeseen home-related challenges. Set up an auto-draft to a high yield savings account (HYSA) and earn some interest while you save!
2) Review your insurance.
Approximately two out of every three homes in America are underinsured. Take the time to review your homeowner’s insurance to ensure it adequately covers your needs.
3) Plan for replacements.
Understand the remaining lifespan of major items like your roof, water heater, and appliances. This allows you to budget for future replacements, preventing unexpected financial strain.
Source: Underinsured Home Insurance FAQ - Nationwide.
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