How do I prepare for the unexpected?

Preparing for the unexpected

Key Points:

– life happens, so it is important to have yourself covered in case things don’t go to plan
– there are two key ‘products’ to help you do this
– (A) Emergency fund – $2,000 to six months worth of expenses set aside in a savings account
– (B) Insurance – for the things you love or those that will kill you financially
– you get an emergency fund by setting one up – opening a high interest savings account and start depositing extra funds into it over a period of time
– you get insurance from a broker – but check what you have already (super, credit cards…) and always get a couple quotes

“to expect the unexpected shows a thoroughly modern intellect” – Oscar Wilde

In life the unexpected happens and not everything will go to plan. Often the unexpected will have a negative impact financially, therefore it is important for our financial fitness to ensure we have a
strategy to deal with the unexpected and some emergency funds if all else fails.

There are two key ways you can protect yourself and loved ones – the first one is through an emergency fund and the other is through insurance It is worthwhile consideringwhat insurance you need to both protect your possessions and the things you love and protect yourself and the people you love .