Preparing Your Family for the Future
If the past decade has been any indication of the uncertainty that life can bring, then you know that your
family needs to be properly prepared for the future in any situation. The crash of the housing market
tipped the scales on the economy, sending it on a downward spiral.
The result was a conservative buying audience and a recession to make the history books. People
weren’t spending money due to excessive debt or fear of losing everything.
Since less money was circulating, businesses started going under, leading to the laying off of employees.
It got to the point that most people knew someone who lost their job because of the recession.
Without a sufficient savings account, many of these families would be financially bankrupt. Only the
families best prepared with a good savings were able to make it through without too much of an impact
on their financial state.
The economy is recovering again and the majority of people are on their way back to a stable, normal
way of life. The question is how did those people get ahead financially for the unknown future before
they lost their jobs?
Preparing for the Future
The answer is simple. They prepared for it.
They lived within their means and saved money along the way. They didn’t have to have extravagant
jobs with ridiculously high incomes to
do it—although that would definitely
They lived in homes or apartments
with monthly payments that they could
afford. They only had subscriptions to
things in their budget and only spent
the money they allotted for their
Carefully planning a budget—that
included a consistent deposit into
savings—and sticking to that budget,
no matter what the costs got them
through. They lived a life of
preparation at every level of their lives and financial planning was only a small part of the greater
lifestyle they chose to live.
They don’t assume that everything will always work perfectly. In fact they’ve seen enough of the world
to know that things seldom go the way they expect.
America thought it was safe from foreign attack until September 11. Then someone proved that
Since then the country has been on high alert for similar attacks. The country bonded together and
learned from mistakes.
Now is the time for families to do the same thing. The attack on the public’s wallets scared many
Be Financially Prepared
They realized that they weren’t prepared to be out of work for 6 months to 1 year at a time. Spouses
and of-age children had to go to work to help meet the financial needs of the family.
They can take steps now to prepare for any situation that might
come their way. Sit down with your family and brainstorm all
the “What ifs.”
What if the economy crashed again tomorrow, what would you
need to survive? What if a car accident took the life of a loved
one, what would you need to deal with the financial burden
that presents and the choices you would have to face?
What if a fire happened in your home, what would you and your kids need to know to get out safely and
meet together again? The “what if’s” can go on forever.
Be sure to discuss them with your family and figure out what you would need to do to prepare for those
situations, and then do them. Jenkins-Soffe offers funeral home services in Salt Lake City Utah.
They encourage people to think early about the things that will affect you later. They want you to be
prepared for any possible scenario that could arise in your future.