Whether we like it or not, money plays an important role in our lives. It determines the lifestyles we lead and our future plans. Since money is so significant, it’s essential to keep track of your finances, y’all. The last thing you want is to be ready to sign for an apartment only to find out you don’t have the funds to do so. However, some things in life you just can’t plan for. Here are three life events that impact you financially and that may redirect your future.
The student loan debt crisis is real, y’all. So many of my friends are still paying for their educations years after graduating. For this reason, you might want to think hard about which school you attend. More prestigious universities cost people a pretty penny. If you want to save some extra cash, think about going to a community college first. You’ll get the same level of education for half the cost.
No one ever imagines their marriage will end as they’re reciting their vows. Yet half of all marriages in the United States end in divorce. That’s a scary number, y’all. The fact that a divorce may put you into financial ruin is even scarier, though. In most states, partners have to divide their property and debts during a divorce. This process takes a lot of compromise from both parties—it’s more than likely that they’ll have to split everything 50-50. That number can change someone’s way of life forever.
Having a Child
I love babies. Shopping for infant clothing on a budget is one of my favorite things to do. But although they’re lovable and cute, children require lots of money, y’all. Parents are responsible for providing their children with every need. Trust me, the numbers add up over time. And adopting a child is usually more expensive than having a kiddo of your own. There’s a lot of legal fees and hoops to jump through with an adoption.
Listed above are three life events that impact you financially. The only thing certain in life is that it’s unpredictable. As a result, you must be prepared for any roadblocks that come your way. Y’all will be happy you planned ahead if the unexpected happens.