• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • HOME
  • RECOMMENDED BOOKS
  • FREE TOOLS
  • CONTACT US
  • ABOUT

The Fortunate Investor

Investing, Business & Personal Finance For Wealth Builders

  • Save Money
  • Invest Your Money
  • Get Out of Debt
  • Making Money Online
  • Family & Money
  • Taxes
  • Business
  • Retirement
    • Retirement Calculator
Home » 6 Serious Threats To Your Financial Health

6 Serious Threats To Your Financial Health

July 17, 2019 By Kevin | This article may contain affiliate links. For more information visit our Disclosure

Tweet
Share
Pin
Share
Share

6 Serious Threats To Your Financial HealthYou don’t need to be super-rich to live a happy life. However, there’s no use in denying that money does make the world go around. Without it, you wouldn’t be able to heat your home, put clothes on your back, or feed your family. This is why it’s so crucial that you take good care of your financial health. A huge part of this is tackling any of the many problems that might pose a threat to it. With that in mind, here are six serious financial threats that you might have to face. 

Birth Of A Child

Although they are small, babies come with a very big price tag. On top of the typical medical expenses, you will have to pay for diapers, clothes, strollers, furniture, and a whole lot more. This is why most couples wait until they’ve saved up enough cash to cover it all. If this isn’t something that you can or want to do, then cut back on any unnecessary expenses, like meals out, instead. 

Separation From Your Partner

No one gets married expecting to have a divorce a few years down the line. Unfortunately, this is what happens for almost half of all couples. Separation is an emotional, messy, and usually expensive experience. Even if you and your partner split amicably, the loss of an income can put a strain on your finances. Because of this, you may want to consider moving in with a loved one.

Loved One Passing Away

The passing of a close friend or relative is sure to disrupt your life in a big way. This can cause a lot of financial issues, especially if you’re the one expected to pay for the funeral. To take some of the pressure off, you should seek advice right away. Many funeral providers are able to offer a service that suits your budget. You can also speak to loved ones about getting life insurance.

Being In An Accident

Car and truck accidents are a very serious and common occurrence. Even when you’re not the one at fault, it can prove to be costly. If you’ve been injured in a crash, therefore, you should speak to truck accident lawyers with commitment and dedication to their clients. They will investigate the accident and represent you so that you get the compensation that you deserve.

Loss Of Your Job

Loss Of Your JobUnexpected job loss, regardless of the cause, can be very embarrassing. When you’re the main source of income in your home, it will also result in a lot of financial stress. It usually takes around three months to find new employment, so make sure that you have an emergency fund with enough money to tide you over. You could purchase insurance cover too. 

Build Up Of Debt

Most of us have some sort of debt, but, when this debt begins to grow, it can prove to be an issue. After all, if anything were to go wrong with your finances, you wouldn’t be able to pay your bills. This would cause the amount that you owe to rise even higher. To avoid this, you should come up with a plan to pay off your debts and get started right away. 

To protect your finances, make sure that you watch out for the financial threats listed above.

  • About
  • Latest Posts
Kevin
Kevin has been a professional writer in personal finance and business topics for over 20 years.
Latest posts by Kevin (see all)
  • How To Be Financially Wise As A Business Owner - September 14, 2021
  • How Best To Invest In Property - September 9, 2021
  • 6 Jobs For Those Of You Who Love Being Behind The Wheel - August 19, 2021

Primary Sidebar

Popular Articles

Whats Going Wrong In Your Business And How Can You Sort The Problems

What’s Going Wrong In Your Business And How Can You Sort The Problems?

Every business has its problems, there is no way around this. However, not every business has the … Read More about What’s Going Wrong In Your Business And How Can You Sort The Problems?

How To Choose The Right Manufacturing Company

How To Choose The Right Manufacturing Company

Having a modern, open and wide-ranging overview of the manufacturing industry is extremely important … Read More about How To Choose The Right Manufacturing Company

Is Productivity An Issue In Your Business Lets Sort That Out

Is Productivity An Issue In Your Business? Let’s Sort That Out

Productivity is one of the things that you should always be looking at when it comes to your … Read More about Is Productivity An Issue In Your Business? Let’s Sort That Out

Key Reasons Real Estate Is A Great Investment

Key Reasons Real Estate Is A Great Investment

Diversification of your portfolio is something that all investors will come across in their … Read More about Key Reasons Real Estate Is A Great Investment

What Happens To Credit Card Debts After A Divorce

What Happens To Credit Card Debts After A Divorce?

Credit cards are a practical tool when it comes to managing your finances and spreading the cost of … Read More about What Happens To Credit Card Debts After A Divorce?

Footer

TOPICS

SAVE MONEY
INVEST MONEY
REDUCE DEBT
MAKE MONEY
FAMILY & MONEY
TAXES
START A BUSINESS
RETIREMENT

THE FORTUNATE INVESTOR

ABOUT US
ADVERTISE
CONTACT US

The Fortunate Investor focuses on personal finance topics to build wealth. Topics include saving money, investing, managing debt, family and money, taxes, making money, college planning, starting a business, coupons and retirement.

SOCIAL MEDIA

FACEBOOK
TWITTER
PINTEREST
INSTAGRAM
YOUTUBE

Copyright © 2022 Fortunate Investor. All Rights Reserved. | Disclaimer & Disclosure | Privacy Policy | Terms of Service