Money may not buy happiness, but it helps alleviate the stress that comes with life’s random emergencies. Whether it’s a pop-up vet bill for your beloved pet, new school supplies, or broken electronics, it’s always nice to have something in your savings account.

While you never know what life will throw at you, it’s good to be prepared for anything. To give you some perspective, here are a few crucial things you should always have money saved for:

Housing

With the crazy world we live in right now, it’s a good idea to have some money saved for rent in case you lose your job. Job hunting is stressful enough without having to worry about making rent. So, to have a month or two saved up will alleviate some stress.

Even if you’re not in your own place, putting savings away to eventually afford your own place will help you in the long run. Plus, you never really know what will break down in your residence. If you live at home and your parents need help to fix something, you may be able to help them out. After all, you live there too!

School Supplies

Not everyone is fortunate enough for their parents to help with school. So, if you go through government assistance for tuition, you’ll still need money for the supplies. Depending on your program, you’re looking at anywhere from several hundreds to several thousands of dollars to keep yourself afloat. Remember that it’s not only books you need to worry about; laptops, instruments, and gear can all rack up your bill. Having a bit of money stored can help with these expenses.

Debt

While you may not be in debt at the moment, students fresh out of school are often greeted with a whopping bill. When you get out of school, having some money stored away will really help dig you out of that potentially crippling debt.

Keep in mind that credit card debt and bills pile up as well, which can leave students hurting in ways they never anticipated. So, while it’s okay to go on repayment assistance or ask for help when you need it, paying off bills and debt yourself is a good feeling.

Unforeseen Expenses

As previously mentioned, you never know what lemons life will throw at you. In that case, it’s always good to have money squirreled away. The last thing your life needs is a surprise bill you can’t pay for. Put away as much money as possible to avoid headaches in the future. You may even be able to help your family should they have any unforeseen expenses themselves.

Wrapping Up

There’s no telling what will happen down the road, which means it’s best to be prepared. Bank advisors, older family members, and even friends can guide you on the path to saving money. Put away a little here and there and you’ll be surprised how much money you have at the end of the year!