5 Ways to Prepare for Life’s Big Events
- Mums Tips
- Parenting Skills
- Published on Thursday, 08 November 2018 14:49
- Last Updated on 08 November 2018
- Monica Costa
- 0 Comments
It’s not always possible to know what’s around the corner, but there are ways in which you can prepare yourself financially for any of life’s big events and eventualities. None of us likes to be caught off guard but you can make life easier for yourself when those big life events do happen. It’s always wise to think ahead and have a plan in place for events you can plan for. Not sure where to start? Here are some top tips!
Keep a Savings Fund
It’s easier said than done with the ever-increasing cost of living but a healthy savings fund will ensure you’re better prepared for life’s big events whether it be a wedding of your dreams, a new baby or your first step onto the property ladder. It’s by no means a simple solution but the sooner you begin saving, the better prepared you’ll be if the pitter patter of tiny feet come along.
Have a Backup Plan
Always have a backup plan in place for when you’re hit with any unexpected events which could have an impact on your finances. This could be as simple as applying for a credit card to cover yourself financially in the short term. It might not be the ideal solution, but you can get some great deals online, including some which offer interest-free credit for up to three years. Use a comparison site such as Know Your Money to help you find the best option for you.
Prepare for the Unfortunate
You’ve got a brand new shiny car and you can’t wait to hit the open road! You’ve taxed it, insured it, but what about breakdown cover? You don’t always want to think ahead to the worst when buying a new car but it’s important that you also consider your own safety. In the unfortunate event of a car accident or breakdown, you want to be safe in the knowledge that help is at hand. The last thing you want is to be stranded on the side of a busy road on a winter’s evening, joining the already 3 million Brits who have broken down without a breakdown cover policy in place. Make sure you do your research on the best policy to suit your needs.
Budget Your Finances Effectively
The better you are with your finances on a regular basis, the better prepared you’ll be for any of life’s surprises. There are various different apps you can download which enable you to track your outgoings, budget your finances more effectively and set yourself financial goals. It’s easy to lose track of your bills and what’s coming in and what’s going out, so having it all in one place makes life much easier.
Don’t Forget Insurance
Heading off on the trip of your dreams? Quit corporate life to see the world? Make sure you’re prepared with the correct travel insurance in place so you don’t risk hefty medical bills or the loss of any expensive equipment you can’t afford to replace. If you’re a frequent traveller it’s worth looking into an annual policy, this will relieve the stress of having to organise insurance every time you jet away.
Monica Costa founded London Mums in September 2006 after her son Diego’s birth together with a group of mothers who felt the need of meeting up regularly to share the challenges and joys of motherhood in metropolitan and multicultural London. London Mums is the FREE and independent peer support group for mums and mumpreneurs based in London https://londonmumsmagazine.com and you can connect on Twitter @londonmums