Good question !  The answer of course is YES  because at some stage it's going to rain ! Sometimes it rains cats and dogs and on other occasions - just a drizzle!

When planning the monthly family budget it is prudent to budget for " rainy day events" that will inevitably occur - if not this month, then next month or the month after ..............

Some examples:

the washing machine broke down - 400 shekels

toothache - dentist 600 shekels

computer went down - 250 shekels

a dog bit my cat - vet 250 shekels

and so on and so on .................

If you put aside about 5% of your total monthly income for this type of rainy day events - they won't come as a surprise anymore and there will be money in the bank to pay for them.

Rainy days can of course be all about longer term events - getting fired from work - sickness and many other events in the course  of an average family's year. Saving for that type of rainy day requires separate planning and saving.

One thing is for sure - when it comes to rain -it's better to have your own roof than to rely on someone else providing you and your family with shelter !!

SO .... RAINY DAY BUDGETING should be a permanent element in your family's monthly budget.

Ronen Kalai

Family Finance Advisor

www.man-in-motion,co.il