Of course, there is no good time for something bad to happen; but you always wonder if you could have been more prepared. That's why it pays to make sure you are ready for the unexpected events in life before they actually occur and if you are then you will be able to cope with them much better.
It's often the financial aspect that hits us hardest when something happens and yet ironically this can be the easiest part to sort out in advance. Let's say for example, that your job involves you working in an outdoors environment every day. What would you do if you broke your leg? If your company doesn't provide full sick pay - or worse, you are self employed - then the money worries could start almost immediately.
That's why you need to consider how you would manage if your source of income was taken away for a period of time - regardless of it happened. After all, the risk of unemployment or a drop in sales and revenue for the self-employed is just as likely to happen - if not more so - than a broken limb.
Therefore, take a look at your outgoings and put together a plan of what you would do if you lost that regular income - you might find that some things are luxuries that you could do away with for a brief period, if necessary. Of course, things like your mortgage and any loans you might have aren't so easy to just get rid of; however, you can start making a plan to build up a protective stash of savings to tide you over temporarily, if the need arises. This will lessen the blow of any sudden event that might occur.
There are other ways you can protect yourself too. For example, insurance is a good way to help plan for events in the future - there are many different types though, so you should take your time in choosing which ones might work best for you and your situation. If you have a loan of some kind then loan protection can provide you with more of a cushion to help soften the blow.
In short, forewarned is definitely forearmed. And while it is difficult to prevent - or predict - every bad event from occurring, it is possible to at least prepare for it in advance.
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