Think of an unanticipated major expense that you might face in the next five years. Discuss how you will ensure that it does not devastate you financially.

One unanticipated major expense that I might face in the next five years is a significant home repair, such as a roof replacement or a plumbing issue. To ensure that this does not devastate me financially, I will establish a dedicated emergency fund specifically for home repairs, aiming to save at least 1-2% of my home’s value annually. Additionally, I will regularly review and adjust my budget to prioritize this savings goal. To further mitigate potential impact, I'll keep a list of reputable contractors and service providers so I can quickly address issues as they arise. Lastly, I will explore home insurance options that cover repairs to help reduce out-of-pocket costs in case of emergencies.