5 Things You Should Try To Save For

We are often told that you should live in the moment, and while that is true, there are some things you should have in your mind for the future. There are a few big moments in life, and some you don’t see coming.

 

Here are a few things to consider when planning for your future.

 

Photo by Katie Harp on Unsplash

 

Unemployment

The last few years have shown that no job is secure – and that things can happen that can rock even the longest-standing companies. But more than that, it has shown that more people than ever want to work for themselves.

 

Unemployment can come in many forms, you might choose to leave work for a while, or you might have the unfortunate issue of becoming unemployed through no fault of your own.

 

Saving up for these moments can give you breathing room if you should need it. Experts say that you should save up between 3-6 months of money to cover your expenses if you need it.

 

Funeral

Just like every other big thing in life, you should aim to save up for funeral expenses. The average funeral is said to be about $8000, so saving up as early as possible is a great idea. You can discuss these important things with funeral service  to make sure that you know what you want and need – and how much it is likely to cost.

 

Medical emergencies

Even with good health and health insurance, you never know what might happen. Sometimes something as simple as a cold or the flu can turn into something more sinister – and then there are times when an accident knocks you off your feet for a while. Medical bills are incredibly expensive, and they can quickly turn into unmanageable debt.

 

Even a tiny amount of savings can help to knock down the total that you owe.

 

Education

Depending on your age, you might have decided that you don’t want to head into education – you might have children that you want to offer the best possible. Education can be costly – depending on what they want to study.

 

Or, you might’ve decided that you wish to retrain or increase your current amount of education. Getting a master’s degree or some specialist certification could improve your current job prospects too.

 

Saving for education can be one of the most important things that you do for yourself and your family.

 

Repairs

There are a couple of significant repairs that are also unwelcome. Big white goods like fridges, washing machines, and dryers can be expensive to fix – even more, when you don’t have insurance to cover them.

 

Cars can also be costly too. Having a small fund to help cover repairs is one of the smartest money pots that you can have.

 

If you are forever trying to do better with saving, you are not alone. The sooner that you start, the more likely it is that you will have several small posts that can help you through tough times. Here are some extra tips that can help: Saving for a house. How the shopaholic is coping on a budget (or not).

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* this post is written by a third party

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