MoneyWise Live | October 2, 2018

Expecting the Unexpected

Show Notes

Oscar Wilde once said, “To expect the unexpected shows a thoroughly modern intellect.” Well, while expecting the unexpected may seem a bit futile as well, we believe that when it comes to budgeting, there really are very few surprises.  MoneyWise Live often hears from people who need help setting up a spending plan – a budget.  And what seems to cause the most trouble are the unexpected expenses.  While not someone who foretells the future, Rob West does do a pretty good job of anticipating it and discusses these topics on MoneyWise Live:

  • A listener contacted MoneyWise Live to say that she’s tried to put a budget together several times, but always seems to get derailed in December  when her annual car insurance premium is due, her homeowners insurance and Christmas. Is this a case of not expecting the unexpected?
  • When those expenses come, they’re still pretty big, so how do you plan for that?
  • What about things that really are unexpected like expensive auto repairs?

Next, Rob and Steve answer these questions at 800-525-7000 or via email at

  • At age 36 and 37 with new daughter with downs syndrome, what are the options for provide for her in the future?
  • If you've made some bad financial choices in the past and are just starting a budget, how do you start saving when things are tight?
  • Where can you find resources for figuring out how to pay off a credit card within a particular time period?
  • Is it a good idea to pay off credit cards by refinancing your home mortgage?
  • If you currently have several savings accounts divided up for different uses like "Day-to-Day" spending, "Benevolence" and "Emergency", is this a good idea or should you just consolidate these accounts?
  • If you've been attempting to get your finances straight with a budget but are just having trouble getting ahead, what are some tips to get things under control?
  • If you're in your late 40s, have 2 children in private Christian school but are finding it's getting hard to afford, should you stick with the private school at any cost or should you reconsider?
  • If you have no debt and pretty good savings   is it a better to take monthly annuity checks from your pension or just move it into your 401(k)?
  • Is there a penalty for private pension within Social Security?

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