This post is part of the TermLifeInsurance.com blog tour, which helps spread awareness of the importance of providing financial security for your family. September is Life Insurance Awareness month, so learn more with LifeHappens.org and how life insurance can protect your family and your finances.
Life is messy.
It definitely doesn’t go in a straight line from where you are to where you want to be. There are dips, curves, hills, and bad weather along the way. That’s what makes life fun, but it can also make it hard to be financially prepared for everything that life throws your way.
Luckily there are a couple of things you can do to prepare for the unexpected events in life: build an emergency fund, and have adequate life insurance.
Yep, I said it and I know it’s been said many times before. But the truth of the matter is that these really are the best ways to make sure you are prepared for whatever is thrown your way. Here’s how you can use both of these strategies to be prepared for the unexpected.
Emergency Fund
Your emergency fund is definitely the best way to be prepared for things like a job loss, major car repairs, a huge veterinary bill, or a big hospital bill for the humans in your family. An emergency fund can also be used to cope with damages from catastrophic weather events, any other big emergencies that might arise.
But you can only utilize your emergency fund for these things if you’ve taken the time to build it up in the first place. Otherwise you might find yourself relying on credit cards and taking on debt to pay for these unexpected events.
Life Insurance
The other major event that happens in life is death. Sometimes death is expected and sometimes it’s not, but no matter which situation you find yourself in, death will definitely rock your world.
When things are up in the air after the death of a family member, you’ll be so glad that the one thing you don’t have to worry about right away is money. Of course, this is only the case if you have life insurance.
A friend of mine recently passed away and one of the worst parts about it that she left her husband and two kids with a huge medical bill for her healthcare, and a loss of income as she was the breadwinner in their family. Because she had no life insurance, they immediately had to worry about how they were going to make ends meet, pay for her end-of-life costs, and the medical bills.
Fortunately, our tight-knit community came to their aid and has had several fund raisers to help them with some of these costs. But it would have been a lot easier for them to manage if they’d had life insurance.
It’s unfortunate that an event like is is what reminds us that life is precious and short, and that we need to be prepared to go at any time.
Life is messy and you never know what it has in store for you. All you can do is hope for the best, and prepare for the worst.
