With the past 5 years of financial turmoil and uncertainty, many of us have taken to some extreme budgeting measures. Ranging from a reduction in entertainment, to the more extreme fast food condiment hoarding, we’ve all learned to do without.
Well, today I’m here to outline some things you might not want to let fall to the wayside, or at the very least should pick up again when you are financially able.
When Saving Leads to Financial Ruin…
First, second, and third on this list is insurance. Whether it be medical, automotive, or life, you should always be prepared for life to fuck up your order of lemons and ship you a basket hand grenades. Now for some of us young guns out there, medical insurance might be something we could do without, but I would recommend at least carrying some sort of basic plan. Something like a simple slip and fall could land you in a world of medical bills and debt that’s rather difficult to get out of.
With auto insurance, the younger you are the more likely you’ll need it. Of course, that doesn’t mean some of you older fellows should forgo this necessity. Without auto insurance you open yourself up to a world of liability. You might find yourself with just a small fender bender, which quickly escalates to a civil suit brought forth by a man who looks like he survived a 20 story fall. Between investigators, lawyers, and any probably payout awarded in the suit, no one can afford to go uninsured when it comes to driving. With the past 5 years of financial turmoil and uncertainty, many of us have taken to some extreme budgeting measures. Ranging from a reduction in entertainment, to the more extreme fast food condiment hoarding, we’ve all learned to do without.
Now this last one is something no one cares to talk about. No, not prostate exams. Life insurance. If you have somebody who depends on you for income, say a significant other and children, you owe it to them to be covered. The average cost of a funeral alone sits at around $6,600 dollars. Couple that expense with a sudden lack of income and your loved ones could find themselves unable to pick up the slack. Now yea, I know, you’re a 20 something. Nothing bad is ever going to happen to you. You eat healthy and exercise every day all day. Why would you ever need life insurance? Well, I’d just like to remind you that death is a certainty. It will happen. Hopefully not soon, but one day it will.
I’m not trying to be a Negative Nancy here, I’m really not. It’s just that sometimes we lose sight of these things trying to make the cut of ends meats at the end of the week. Just remember, life happens, and as an Unfinished Man it’s time to take ownership of that and prepare. That’s what separates us from the boys after all.