Question

Which are the unexpected expenses of a family?​

Answer 1

Answer:

Types of unexpected expenses;

1. major auto repairs
2. unplanned travel
3. unexpected gift expenses
4. major home repairs
5. pet emergencies

Answer 2

Answer:

6 Types of Unexpected Expenses

Explanation:

What Is an Unexpected Expense ?

First of all, it’s important to understand what an unexpected expense is – and what it’s not. There are some bills you don’t have to pay every month, but these still don’t count as unexpected. Examples include:

• Quarterly property taxes or water/sewer bills
• An auto insurance premium that comes due every six months
• A yearly eye exam

Expenses like these are predictable. You know exactly when they’re going to come due, and you know at least approximately how much they’re going to cost. This makes it easy to plan ahead for them in your regular household budget. You just divide that quarterly tax payment by three, the insurance premium by six, or the doctor’s bill by 12, and set aside that amount each month to cover the cost.  

A truly unexpected expense is something that you can’t predict, such as a natural disaster or a medical emergency. These are the things that could happen to you at any time, but you can never be sure if they will – or how much they’ll cost you if they do. That means you can’t simply fit these expenses into your regular budget; it takes a different kind of planning to prepare for them.

1. Medical Emergencies

Some healthcare costs – checkups, medicines, minor illnesses, and so on – are normal expenses that you can budget for. But if you’re hit by a bus or your appendix bursts, that’s a whole different situation. In a situation like this, you have to deal with the pain of your condition, the stress of knowing that your life is in danger, and the hassle of being rushed to the hospital for surgery, all at the same time. The last thing you need is to top all that off with a huge bill that you can’t afford to pay.

2. Pet Emergencies

If you have pets, you probably know what it’s like to have to rush them to the vet. When your dog has been hit by a car or your cat has started having seizures, you just want to get help for your pet as fast as you can, and the cost doesn’t even cross your mind. But once the crisis is over, you often find yourself facing a whole new problem: a massive bill from the vet.

3. Major Auto Repairs

If you own a car, you expect to spend a certain amount of money each year to keep it running. You may not know exactly what repairs your car will need in a given year, but you can estimate when it’s likely to need new tires or a timing belt and budget for the cost.

What you can’t predict or plan for is an accident that causes a whole lot of damage to your car all at once. The Rocky Mountain Insurance Information Association reports that in 2013, the average claim for collision damage after an accident was over $3,000. If you didn’t have insurance to cover it, that would be a pretty big bill to pay.

4. Major Home Repairs

Like a car, a house is pretty much guaranteed to cost you a certain amount of money every year. The 1% rule – setting aside 1% of your home’s purchase price each year for repairs – is a good way to estimate how much that cost will be, but it has its limitations. Some years, your house doesn’t need any major repairs at all; other years, everything seems to break at once.

That’s what happened to teacher Teresa Chiffons and her husband one winter. As she told the NEA Member Benefits Corporation, first they had to replace the furnace, which cost $5,000. Then a few months later, the house’s main electrical line failed, requiring another $8,000 for replacement. The repair costs for these two projects completely ate up the money they’d been saving for a down payment on a new house.

5. Unplanned Travel

Usually, when you’re planning a vacation, you can choose the date and destination to fit your budget. However, sometimes you have to make travel plans unexpectedly. Whether it’s a joyful event like your cousin’s wedding or a sad one like your great-aunt’s funeral, an unexpected trip can eat a hole in your budget.

6. Unexpected Gift Expenses

As if the travel costs weren’t enough, a family wedding also requires you to shell out money for a wedding gift. Gifts are also expected for a wide variety of other occasions, from baby showers to retirement parties. At some workplaces, it’s common practice to take up a collection for a group gift pretty much every time a coworker has a big life event. Even if you only give $5 or $10 each time, it starts to add up after a while.

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