By: Melissa Leong | Financial Post | June 22, 2013
Read More, and see what Scott Plaskett says about how to save.
Money is so easily spent. With a tap of your credit card or the shuffle of dollar bills, it’s gone, never to return — well, until payday. Even after you’ve diligently hoarded your funds, here are five things that will quickly deplete your savings:
Unexpected repairs: Things break. What can you do? Unanticipated automobile or house repairs can be big money drains. “Nobody counts on a basement leak…I know people who had six pumps running in their basement and one of their circuits blew. The ground water came up and they had six to eight inches of water in their basement,” Scott Plaskett, a certified financial planner and CEO of IRONSHIELD Financial Planning, says. “That’s where emergency funds come in.”
