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Cost of Being Unprepared For One Day

business and finance blog

Recently there was a teacher’s strike here and that means parents would have to find ways to take of their children. I know a few people today who had to do things such as taking time off work to accommodate this. I was thinking too as a result of this on how much financial burden these things create when we simply aren’t prepared for even one day where things don’t go as planned.

Is the answer in this case to always have a backup for everything that you do? While that may be the best way, that isn’t very practical. For example, I don’t think people have an extra car in the garage if one breaks down or making sure that they have a babysitter ready 365 days a year incase one of the days are like these.

The easiest solution for myself, as dumb as it sounds, is to simply have a good amount savings. For example, not too long ago I had a situation come up where it required me to address it. While I didn’t immediately know what the best way to approach it was, being diligent and making sure I always have an “emergency fund” made life so much easier as it opened up a lot of options I could take. Many times we simply can’t predict what exactly is going to happen, but we can all put ourselves in a good position to find a solution when needed.

It doesn’t have to always be money either as this could be you helping and giving to others when you are in a fortunate situation. This could easily mean you will have a network of people with various skills and resources to help you in return for when you really need it.

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