Financial preparedness

via

Money is probably the biggest source of anxiety for the vast majority of people and that's pretty understandable given that most of us simply wouldn't be able to function without it. Even when everything in life is normal and going fine, your finances will often be a little niggling worry that sits at the back of your head most of the time. But what happens when things go wrong? What about when the worst possible things happen and you're suddenly in a position when your finances have taken a really serious blow? The best thing that you can do is to try to be prepared for the unexpected. You can't always predict when something is going to go wrong, but here are a few of the most common blows to finances and how to put yourself in a better position to weather them.

Accidents

Not only can a car accident have some serious financial ramifications, but the physical and psychological consequences can be incredibly damaging and long lasting. Many of us use our cars to get to work, pick up our kids from school, see friends, run errands, get in the weekend fun, and do just about everything else in as well. That means that if you’re in a position where you're left without a car it can cause your entire life to grind to a halt. Even worse than that is the chance that you could suffer an injury from the accident. Physical injury can stop you from working as well as making everyday tasks difficult to deal with. It's a good idea to have a lawyer in mind should you need one that you can trust to help you deal with the financial problems that can result from a car accident or injury. From the guidance in how to pursue compensation to providing personalized legal representation to injury victims, there are plenty of options for getting the compensation that you need to protect your finances after an accident. Just make sure that you do your research and ask around. 

Losing your job

Losing your job can be one of the most serious financial disasters that a person can face. Ending up without your main source of income can have extremely long lasting effects on your financial situation. If you're in a position where you have a partner who can support you, that's fantastic, but by and large it would be very disruptive to the majority of households. The best thing that you can do to protect yourself from this situation is to make sure that you're putting a portion of your income every month into a savings account. I know this isn't always possible - most people I know are paycheck to paycheck or close to it, but every little bit helps. That way, in the event that you find yourself without an income for any length of time, your financial burden will be a bit easier than if you have no savings. Of course, you won't be able to live off your savings forever but at the very least it can help you to feel a bit less anxious and rushed while you're looking for a new job.

House Problems

In an ideal world, your home is your sanctuary. It should be the place where you feel the safest and most secure. That's what makes it all the more horrible if something happens to your house to disrupt that safety and security. Whether it's a robbery, flood, fire, or anything else, a household disaster can throw your entire life into total disarray. Of course the first and most important thing that you should do to protect yourself are to make sure that you have insurance that covers you in the event of any of these things, which will help mitigate the dollars leaving your wallet if something does happen. Really know and understand what policy covers what - pick up the phone and talk to your agent.You should also make sure that you get your electrical supply, pipes, heating and appliances all checked out regularly so that you don't end up with any nasty surprises. Make sure that you have somewhere that you and your family can go while any repairs are being done on your home and after that, the best thing that you can do is to try to get life back to normal as quickly as possible. The last thing you want is to let this problem have any long term effects on you or your family's quality of life.

Life is always going to throw curve balls at you, that's just the way the world works. But if you're prepared and you know how to deal with them, you can manage to get by with just a few scrapes instead of letting them knock you down fort the count. 

Tips to add?

Happy birthday to MFD, Debbie, AJ, and Griffin today! Lots of important people in my life are March 1 babies.