Wednesday, August 31, 2011

Protecting Your Family Nest!

Many people prefer not to think about the unexpected. The emergency. Critical situations. Or how to prepare for them. I am a bit of the opposite; I tend to over- prepare; think and plan ahead more than I need to. While this can be bad at times, in other cases it can be very good. Just for daily planning, or for those emergencies you hope never but happen, but know that most likely, one will. 
Did you know that even the Bible talks about planning for the future? I believe it is twice in Proverbs, and goes something like this: "The prudent man forseeth the evil and hideth himself..." If the Bible tells us that planning for emergency is wise, you can be sure it is something we all need to do!

There are a few ways to plan for unexpected emergencies. The first that comes to my mind is a savings account. I try to put aside just a little bit each month, so we have it when something comes up. Whether it's an unexpected medical bill, etc. having that "nest" in the bank is quite comforting! With the economy the way it is right now, it may seem impossible to put money into savings each week or month (depending on your pay schedule). However, it is easier than you think. Cut out the soda for one week, and see how much you can deposit in your savings account that way! Or maybe pass on that McDonalds stop and just eat at home. The money will pile up faster than you think! It is also wise to start your children saving money when they're young. There are multitudes of tools and methods available to help your children learn the wisdom of saving.

Another way to prepare ahead is by having insurance. Life insurance, health insurance, auto insurance...all of these are various ways to "plan ahead" and protect your emergency funds nest. If you have medical insurance and a family member ends up in the hospital-you won't be pulling money out of that savings account unnecessarily. If you're in a car accident, having insurance will usually cover at least most of the repair cost. AAA is another great way to protect that nest; I don't know how many times we have been on the side of the road somewhere, needing a tire change, a tow or a battery jumped and AAA saved the day. That is a good investment for planning ahead!

How about your family? Do you have a "nest-egg" that you protect? Are you teaching your kids to plan ahead and save? Please share any hints or tips you might have!

Did you know that half of Americans say they are under-insured? That’s 58 million* of us. And 70%* of people with kids under 18 say they would be in serious trouble if something happened to the primary breadwinner.
Experts say a good rule of thumb is to insure 5 to 10 times your income. It sounds like a lot, but it’s really not. Think about what you’re really worth.  Life insurance will help cover the cost of your mortgage, medical & funeral expenses, continuing childcare, living expense and college tuition.
How many people would have to be hired to do all the things you do for your family? estimates the average stay-at-home mom would earn $117,867 per year if she were paid for all the work she does. Most people feel overwhelmed when they think about this stuff. Your local Allstate agent can talk you through your situation and help you plan for the future today. Allstate and their agents have been helping customers protect their families for over 50 years. 

About Allstate Life Insurance
The Allstate Corporation is the nation's largest publicly held personal lines insurer. Allstate is reinventing protection and retirement to help more than 17 million households insure what they have today and better prepare for tomorrow. Consumers access Allstate insurance products (auto, home, life and retirement) and services through Allstate agencies, independent agencies and Allstate Personal Financial Representatives in the U.S. and Canada, as well as and 1-800 Allstate®. 

I wrote this blog post while participating in the SocialMoms and Allstate blogging program, for a gift card worth $50. For more information on how you can participate, click here.

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