Say what you want about life but it sure throws a lot of lemons at us from time to time. Some of the changes we go through are more positive, though, such as moving to a new city, while others, more dramatic and turbulent ones can take a toll on our health – and wallet.
While it’s always important to address your emotional reactions to life-changing events first, it’s no secret that financial problems also add to your worries. Here is a handful of insights to how you can safeguard yourself from whatever life may throw your way so that you can get back on your feet a bit quicker.
#1 Having a baby
People pass away – and a new life arrives with shrieking screams. It’s the circle of life, supposedly, but it doesn’t mean that it’s any easier on our mental health. After settling down for a few years, you may want to think about children as well as the tremendous financial overhaul that comes with.
Children are cute, that’s for sure, but they’re also expensive to keep around. Building up a cash reserve way in advance of baby’s due date is only one way to lower the stress factor; purchasing a life insurance as soon as he or she comes kicking and screaming is even better.
Get the first one out of the way immediately, and you’ll be able to focus on finding the best life insurance before the baby is even conceived.
#2 Getting Married
Can you hear the wedding bells drain your savings account? It’s expensive to get married these days, but if you feel that the stress of your financial future as a married couple is overshadowing the joy of tying the knot, you may want to have another look at your wedding planner.
You can easily cut the costs in some corners while still enjoying a rocking celebration. Have a look at this article, for example, and make sure you sit down a bit after the big day to discuss your financial future. It takes a bit of the stress off when you share a set of common goals, and you may realize that the situation isn’t as bad as you thought.
#3 Getting divorced
A divorce is definitely difficult to both go through and to talk about. Try to stay in the parental role together with the other parent still, though, and don’t let this split the family completely if you’re able to avoid it.
You might have talked about your divorce with your friends, family, and the expert divorce solicitor but your children will still have a lot of questions after you’ve told them. Many parents get uncomfortable around these questions and try to dismiss them by simply saying ‘it will be OK’ in an attempt to comfort them.
It’s actually much better if you try to be supportive of their painful reactions and answer the questions as honestly as you can.
The most important thing you can do for your mental health as well as your finances when you’re going through some challenging changes is to accept your emotions. Some people seem to think the only way to cope with this is not to feel stressed or worried, but denying your feelings will really only make it worse.