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Managing Personal Finances
How do I plan for the unexpected?
How do I plan for the unexpected?
Is there a way to be ready for emergencies in your budget? Learn more here.
Leticia Rosa avatar
Written by Leticia Rosa
Updated over a week ago

You can't really plan for one specific thing that may happen to you, but you can do your best to be ready if an issue occurs. Some examples:

  • Your rent went up, so you're going to move back to your parents, but you still need to pay for the move

  • Your laptop broke, and you need to get it fixed so you can continue studying

  • Your car needs to be annually checked, and there's something wrong with the carburetor, so you need to pay for it

The ideal way not to let these unexpected things get in the way of your study at Microverse is to have money saved. With a budget and a financial plan, you can examine all of your finances with as much detail as possible and find a way of having some money left to add to those savings. The more savings you have, the best prepared you are to deal with the unexpected.

What does that mean?

A rent increase of 10% over the remaining eight months in the program is a total of 64 USD for someone whose rent is 80 USD, but for someone that pays 1200 USD in rent, it's 960 USD. Putting that on paper is a helpful way to understand your maximum potential liability and adjust the budget accordingly.

Additionally, it's always good to have another option, like being open with your family or friends if you need temporary financial help during the Program.

At Microverse, we do our best to help you succeed, so you must get your finances in order before joining us so you can focus only on your learning when you become a student.

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