Unexpected expenses are bound to happen. Cars break down, roofs leak and faulty plumbing floods homes.
One way to be prepared for such financial surprises is to build an emergency fund that is big enough to cover all of your living expenses for months — just in case. You should also protect yourself by buying homeowners, health and auto insurance — among other financial products we cite in “10 Tools You Need for Financial Stability.”
Following are some of life’s most unpleasant expenses that can catch you off-guard, and more strategies for coping with them.