Financial Situations That People Don’t Like To Talk About (But Definitely Should)

coins inside jar
Photo by Miguel Á. Padriñán on

Money is not the end of the world but suddenly having none of it might feel like the end of yours. The simple fact is, we don’t actually need money, we could easily take off into the woods and live among nature. People managed to survive without money for thousands of years. But we like money because it allows us to do things such as live in a house with central heating or jet across the world to see new places. So, unless you want to live in the woods, you need to plan for your financial future. This means you need to plan for different situations which might make living in the woods seem like a good option.

Business going under

Not everyone has a business but everybody works in some form. If you work for someone and their business goes under, it will have an effect on your life. In some cases it can be worse than losing your own business. For example, if you have your own kitchen fitting company and you know the finances are not great, you can make preparations when the bottom finally falls out. However, if you are the employee of the company, you might not find out until you pull into the yard one morning and find the doors locked. Yes, that has happened to people. If your business is going under, at the very least, give your employees some notice. If you know the bank is coming the next morning to slap a lock on the doors, let them know at quitting time so they can lift their own possessions from the building.


When you get married, nobody likes to think it will end in divorce. Unfortunately, the statistics say there is a good chance that you will get divorced. Hopefully, your marriage will not succumb to divorce and you will live long and happy lives together. But you should always plan for the worse. If you have a business or a lot of money, you might want to talk about a prenuptials agreement to protect your assets. But a prenup can do more than just protect your bank account. It can provide allowances for the kids, set up agreements about custody, and even help with information about end of life care.


If one thing is certain in life, it is death. But when it comes for us is another matter entirely. Planning for your own death does not seem like the best activity in the world but it can save your family a lot of heartache if they don’t have to do all of the planning. Having affordable life insurance can make all the difference when your funeral needs to be paid for, and having a will can help your family to divide any assets that you might have. There is also the question of how you would like to be buried, what type of tombstone do you want, and a whole lot of strange requests that only come up when someone dies.

New baby

If you have kids, we don’t need to tell you how expensive they can be, and it’s not just the baby stage. Throughout a child’s life, you will have to feed them, clothe them, and pay for whatever fad hobby takes their interest at any given time. Kids are expensive from the moment they are born. Having a new baby, whether it was planned or a surprise, means that your finances will take a hit. The cost of having a baby is something that we don’t like to discuss because it feels awkward but it is something that we should face head on. As soon as you know that the little bundle is on it’s way, you need to start saving and planning for their arrival and their future. Those ballet lessons and football boots are not going to pay for themselves.


Going bankrupt can happen to anyone, and there are many different reasons why it can happen. After the crisis of 2008, there were countless places and people that had to file for bankruptcy. Although going bankrupt can be the only option, and it might relieve a lot of stress that comes with having a lot of debt removed from you, it can affect your life for years to come. A bankruptcy will stay on your credit file for six years and can affect your choices and credit options for years to come. Many of the people who were declared bankrupt back then lost everything including their homes. But it has been over 10 years since that happened and many of them are now completely unaffected by it other than the memories of what happened.

Relocation to another country

If you are lucky, you will get to travel the world. While you are travelling, you might decide to settle down and spend your life in a new country. Or you could ping around the world forever. If you are a single pringle, this will not be a great deal of drama for you. However, once you throw family into the mix, things can get complicated. Moving to another country can be necessary for many reasons, but hopefully you are only faced with the reasons for having to move. Job changes are one of the main reasons why a family would have to relocate. And while this is fun and exciting on the surface, it brings up a big money issue, especially if your other half has a job. Moving to another country can be great but everyone has to be on board with it, and you will need to ensure that any financial knicks are sorted before you leave.

Life has a way of throwing things at us, and if we are prepared to have those tough conversations, especially around money, making these changes can be a lot easier. Don’t get us wrong, sometimes they are still hard, but having a plan for those tricky financial situations can help to make a real difference.

Collaborative Post

What do you think?

Written by themoneyshed

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

Why a Curve Card deserves a place in your wallet

Why a Curve Card deserves a place in your wallet

photo of people near wooden table

Tips For Building a Team That Works For Your Business