Unexpected Financial Events: How To Be Prepared for the UPS and Downs


You’re driving to work when all of a sudden, your car starts to make this nasty squealing noise.  The last thing you can afford is a car repair bill right now so, you turn up your music and ignore your car’s desperate please for help.

That seems like the logical thing to do until one day, your vehicle refuses to crank up. If you’d prepared better, you would have been able to get the car fixed before it got to this point.

How can you prepare for big financial events in your life like this when you’re always broke? It’s not as hard as it seems. Keep reading to learn how to stop yourself from getting caught off guard by unexpected expenses.

Medical Expenses 

One minute, you’re enjoying a tasty meal with one of your friends. The next minute, you feel your back wisdom tooth shatter as you bite into a hard piece of food.

Medical emergencies such as this are something that no one is financially prepared for. That’s why you have to make sure you’re covered by some type of medical insurance. Depending on your plan, you might not be able to get the entire treatment covered, but it’s better than paying for all of it out of pocket.

If you’re hurt at work, make sure to file a worker’s comp claim right away. This way, you might be able to get the procedure and some of your missing wages paid for.

Household Emergencies 

As a homeowner, one fact you’ll have to face is that expenses don’t stop ever. Something will break that needs your attention. You might be able to avoid a costly repair bill by keeping up with regular maintenance of the garden and household appliances.

Still, that can only take you so far. Homebuyers insurance might help you with some repairs as long as the cause of the problem wasn’t your fault.

Car Expenses

So, you’re driving down the road when your check engine light comes on. You decide that’s a later problem and keep driving. It’s not long after that when your car decides to stop working.

You can avoid this scenario by getting your car checked out on a normal basis. Other than that, all you can do is get good car insurance.


Nobody wants to think about their own death, but it’s something that needs to be at least in the back of your mind. If you pass away unexpectedly, your family will be tasked with paying thousands of dollars to put you to rest. The last thing you want is to leave them with piles of debt.

That’s why you should start looking into life insurance or at least start an emergency fund.

Planning for All the Unexpected Financial Events in Your Life

Nobody can plan for their car to break down or for a pipe to burst in their home. Unless you have insurance, these unexpected financial events can be pretty detrimental.

Other than getting insurance, you’ll need to do everything you can to take care of your home and life to prevent unfortunate surprises. Check out our blog to learn how.

Andrew Brown
Andrew Brown, an MBA graduate from Columbia University, New York, has been a fixture in the business world for over 20 years. His expertise in strategic management has been a cornerstone of our content since he joined in 2016. Previously, Andrew held executive roles in several Fortune 500 companies, where he led transformative business initiatives. His years of experience in corporate leadership and consulting bring a wealth of knowledge to our readers. Outside of work, he mentors young entrepreneurs and enjoys playing chess.

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