Have you done your Christmas shopping yet? Maybe you haven’t even started? One thing is for certain; no matter how much we try to budget, or tell ourselves “I am not going to go mad this year!” Christmas continues to be a very expensive time of year.
According to a survey completed by the Mail Online:
Spending will be the highest among 35 to 54-year-olds at £491 per person, falling to £423 for those aged 55 and over and £415 for those aged 18 to 34 – with the average of £445 up 1.8 per cent on last year’s figure of £437 per person.
You could also argue that there is an even bigger pressure for those with young children or grandchildren. There is also a lot of research to show that just fewer than 50% of all parents feel pressured to spend more than they can afford. Are we putting ourselves in a vulnerable position by over spending? It can be difficult at this time of year financially, even if we do earn a good living, never mind paying out for things we cant afford! Providing for our families can feel like an overwhelming task at times. How do we ensure that we can always take care of our family, as well as preparing and taking into account any potentially unexpected situations, or circumstances?
Have you ever talked to your family about what would happen financially if you passed away? Not a nice conversation to have? Maybe not, however it is very important!
Sarah had never even considered life cover or critical illness cover, as she felt it was something that she would be paying for every month and would hopefully never need to use. There were many, much more pressing things she needed to buy monthly, in order to take care of her family. In Jan 2012, Sarah was devastated, receiving the dreaded phone call from her husband, who confirmed their worst fears, he had cancer.
Please note facts and figures quoted are taken from articles written in 2012 and may no longer be correct.
"Please note that this blog post was provided by Healthy Minds and although based on real people, different names have been used, where requested, by those sharing their stories."