Many situations in life are classed as unexpected. But when looking at what the unexpected means, can you really prepare for it? Yes and no. Yes, as in, you can have plans and contingencies in place for the just-in-case scenarios and no in the sense that you never know what will happen from one minute to the next.
Wilhelm outlined six ways that you can start preparing yourself for the unexpected:
What are the best ways to plan for unexpected events in life?
Lawyer Up
It is always a good idea to know a good lawyer or two before you even need to use their services in the best-case scenario. You may need the assistance of different types of lawyers and legal advice over the course of your life, but asking family and friends for their advice and opinions on good reliable lawyers who can help you in various areas of law is highly beneficial.
Whether you need trucking accident lawyers, divorce lawyers, personal injury lawyers, or a real estate lawyer, knowing a good lawyer who can advise you on many aspects will give you a place to go for advice should the situation arise in the future.
Protection
Life insurance, income protection, auto insurance are all expenses many people consider to be luxuries but can be very useful in a pinch. These types of cover require monthly payments to upkeep the policy and, in the event of an accident or incident that triggers a payout. Insurance can be crucial in times of need – explained Kim Wilhelm, an insurance provider – as you or your loved one would not be saddled with the financial stress of debts or loss of income that would come as the result of an incident.
Income protection payments can be taken directly from your paycheck and, depending on the level of cover you choose, can cover part or nearly all of your income should you experience an event that renders you unable to work. This can take some of the worries away from not being able to work for any reason. Each policy will have different restrictions and benefits, so it is important to check the fine print to make sure you are happy with the level of cover the policy affords you.
The same applies to life and auto insurance. If your car is your lifeline, then having a replacement car or repairs covered by insurance policies can make all the difference if you are struggling financially.
Savings
Savings accounts, like insurance, aren’t a priority for everyone. Despite knowing that you should always try to put away money where possible, their income doesn’t allow it for some people. However, getting into the habit of moving money to your savings accounts can help you get into the habit of saving something each month, even if it is a nominal amount.
This may require you to live below your means to allow you to accumulate savings and be prepared for any eventuality, including losing your employment and having to live on a lower income; this won’t be so much of a shock if you are already used to scraping by on less than you need to.
Contingency Plans
Who do you call in an emergency, and why? What is your local vicinity like, and how quickly can you make it home from work should you need to for any reason. Always have a good idea of how long journeys take and what your procedure will be in emergencies.
This applies to emergencies within the home and outside too. Have a list of emergency contacts and, if required, put them in a hierarchy of who will help you in different scenarios. Relay this information to them, too, so they are aware of what you have put into place to make sure you are all on the same page, and they are aware of what you are expecting of them. If they cannot help you in that capacity, it is better to know beforehand than when you need them in an emergency.
Emergency Contact Details
Always carry a copy of emergency contact details on you so should there be an accident you can be easily identified and your loved ones informed. This can be as simple or as detailed as you like, however, keeping a detailed contact list either stored in your phone or on a piece of paper or a notebook in your car for example can help you contact people if you can’t access your cell phone.
Back up Supplies
No matter where you live in the world, there is always the possibility for a disaster; the global pandemic has taught us that. If you live in an area prone to flooding, hurricanes, earthquakes, or other natural or manufactured disasters, having an emergency supply of essential items is a great idea. It will also come in handy in situations such as losing your job too. Be realistic about how much you can afford to stock and what exactly you need to stockpile. Items such as bottled water, toilet paper, wet wipes, tinned goods, cereal bars, batteries, and candles are a good place to start.
Rotate them regularly and make sure items are still on date periodically so nothing is spilled and your money is wasted. Pay attention to where you store your items, too, so they are easily accessible and remain undamaged should anything happen.
Preparing for the worst to happen can take its toll mentally and physically. It is important that you try not to let this take up too much time in your mind so you can live your life without worrying about the “what if”. Making plans and having things in place should you need to fall back on them will always be a good idea, even if you need to use them. Allow this to alleviate any worries you might have about unexpected events that can turn your life upside down.
