Life has the habit of throwing surprises at you, when you least expect it.
Today morning I have been to my kids school to collect his report card for this year. His summer vacation started yesterday. And came to know that his school fees has been increased by 85% for the next academic year.
Though I have the liberty of paying the fees in three parts spread out over the next year, this has put a strain on my planning. The reason being I had planned for a fee hike of 25%(there has been a talk of increasing it by 25%) not 85%.
The solution to all such surprises – Have an emergency fund!!
If I had an emergency fund I would not be as much worried as I am now.
Lesson learnt the hard way, and yes, as mentioned in my yesterdays post I am going ahead with Plan I.
Filed under: personal finance , personal finance, saving
