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I have been a mum for over a decade now (scary when I think of it like that), and over that time, I have come to realise how important it is to have plans in place, should anything happen to me, especially in relation to my three children. I have generalised anxiety disorder, so I do tend to catastrophise a little at times, but it is sensible to sit and think about the future, and to have a discussion with your partner too, if you are in a relationship. You don’t know what is in your future, and you can’t prepare for any eventuality, but you can put some plans in place to help ease your mind.
Funeral Savings
Although it may sound morbid to start planning for your funeral, it is never too early to start putting money aside, and having a general idea of what form of burial or cremation you are looking to have when your time comes. At the end of the day, death is a guaranteed eventuality for each one of us, and it will save your children and family a lot of hassle and expense, if you have been able to save towards the cost in advance. Some funeral providers, like Heart of England Funeral care, even have pre-paid plans, to help prepare in an affordable way.
Life Insurance
Life insurance was one of those things I kept telling myself I needed since I had my children, but it was only when we bought our house at the end of last year that I finally got round to setting a policy up and it is a weight off of my mind. Knowing that the children will have financial support should I die unexpectedly is one less thing for me to worry about in my anxious mind, and it would also mean less stress for Ed in terms of the mortgage on the house.
Writing a Will
Having a will is sensible for anybody, but it is especially important if you have children, as you will need to determine who will look after them if both parents were to pass away whilst they were still minors. Both Ed and I wrote wills recently, and I feel confident that my wishes are clear with regards to the children, should I die in the next fifteen years.
Set up a Child’s Savings Account
Something I set up as soon as the children were born was a savings account in their name, to be accessed once they turn sixteen. Money can be paid in, but cannot be taken back out, and an interest is added, making it a good investment for the children’s futures. Although I cannot afford to pay in a lot at the moment, hopefully I will be able to add more as they grow up, and you can always add a lump sum, as opposed to regularly paying in instalments, should this be better for your circumstances.
This is a sponsored post, however all words are my own.
