Be Prepared for Financial Problems

By on September 19, 2015
preparing for financial problems

By Patrick Vernon –

Are you financially prepared for whatever life could throw at you? If faced with an unexpected and costly situation, would you be able to get through it?

These probably aren’t questions you want to consider – no one wants to think the worst as they start each new chapter of their life, but it is important to be prepared, just in case. You never know what is around the corner and being ready for it could make a difficult situation that little bit easier.

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Money Advice Service found that almost one third (32%) of adults have experienced a serious financial shock in the past five years, but only a third (35%) had the right insurance in place to cushion the financial blow.

From the day you start earning money it is important to build up a savings fund or consider relevant insurance policies to safeguard yourself and your loved ones against financial trauma.

As you get older, once your children have grown up, moved out and no longer rely on you for support, your financial priorities and therefore worries are likely to change. As retirement looms, it is even more important to have the right insurance in place should anything happen once you stop earning.

Having the right insurance will give you peace of mind, but what insurance is right for you? The infographic below will help you to make the correct financial choices, whatever your stage of life.

Protecting Your WorldProtecting Your World

by the Money Advice Service

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Be Prepared for Financial Problems