Man being made redundant from his job

Plan your Finances for Life's Unexpected Events 

Author: Gemma Burgess – October 2023 
Overwhelmed man trying to mange his finances

How prepared am I for life’s unexpected? 

Our lives are spent busily moving from one day to the next but what happens when life throws us the unexpected? 
At the age of 33 this isn’t something I had really considered however, knowing what others have been through in their lives, it really can’t hurt us to be prepared. 
As we age, it becomes increasingly important to prepare for the unexpected such as: 
Unexpected job loss 
Sudden illness 
The loss of a loved one 
Experiencing any of these events can often leave us with uncertainty alongside a range of emotions. Any unplanned event is a part of life and it is how we respond that truly matters. 

Your body is your home - you need to look after it! 

Should you find yourself now or in the future in this situation then the emphasis on prioritising your physical and mental health is crucial as this will help you to better manage the challenges which may lie ahead. 
The subject of looking after ourselves is huge and I could write about that forever, however, the key is to take care of yourself, this may mean: 
Taking time off work. 
Reaching out to family, friends & work colleagues for support. 
Seeking professional help if needed. 
Mature woman at home, relaxed and dancing to music
Remain open to new possibilities whilst being willing to adjust your plans and expectations as needed. 
We can’t simply bury our heads in the sand and ignore these potential events, so it pays to be prepared, at least as much as possible! 
“The best preparation for tomorrow is doing your best today” 
H.Jackson Brown, Jr. 
This will not only mean you’re financially ready for the unexpected, it also allows for peace of mind and confidence that unexpected events won’t knock you off course. You could also make life considerably easier for your loved ones if you’ve got your financial affairs in order. 
Husband surprising wife

How can I ensure that I'm prepared for an uncertain future? 

Firstly, it’s probably no surprise that you need to consider creating an emergency fund – essentially this is a pot of cash that you put money into every month.  
Ideally, this should be enough to cover your living costs for about three to six months and this is what we recommend to all our clients at New Vision.  
Over time, that will build up into a valuable safety net. 
You should make sure this is factored into your wider financial strategy; so you can put money in your emergency fund without compromising other areas, such as building up your savings and pension pot. 

New Vision Lifestyle Financial Planners can help! 

We’ll provide a holistic look at your finances and offer recommendations that meet your circumstances and objectives using financial planning and cash flow modelling.  
As part of this we may also look at your protection plans and recommend policies where necessary. 
A couple of other ways to be ready for the unexpected: 
Get your wishes in writing – in other words make a legally binding Will. 
Setting up a trust. 
Lasting powers of attorney. 
If you want reassurance that you and your family are ready for the unexpected, we’re here to help and we can look at your situation and offer guidance that suits you, your circumstances and your wishes, so you can feel confident and prepared. 
Group of middle aged friends walking through a town in the sunshine
Finally, it is important to remember that unexpected events can also bring new opportunities and growth. Whilst it may be difficult to see this in the moment, try to stay open to the potential for positive change that may arise from this experience. 
This could be: 
Exploring new career paths. 
Connecting with new people. 
Discovering new passions and interests. 
If you would like to find out additional information please do contact us. Also, make sure you are following us on Facebook and Instagram to stay up to date with our latest news and views. 
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