You can’t prepare for some expenses—a fender bender, a parking ticket, and the like. For these, it’s smart to leave some wiggle room in your budget, if at all possible. There are other expenses, though, that can and should be planned for ahead of time. Health insurance, for example, helps you prepare for medical treatment and clinic appointments, even if you haven’t planned them.
Getting engaged is another example of a life event that you should plan for. Engagement rings are notoriously pricey, and if you know you’re going to pop the question pretty soon, you can start saving for a diamond ring long before the big day. So, what are some big life events you should be preparing for ahead of time? Let’s take a look at some of them.
Engagement and Marriage
You don’t know when you’ll meet the love of your life, but you know when you’ll propose. That means that you can (and should) start saving and purchase an engagement ring before you get down on one knee. Think about the type of engagement ring your one true love will be happy to wear. Does she want a traditional gemstone, or would she be excited about a pepper diamond? A salt and pepper ring is a chic take on the traditional diamond engagement ring. If your sweetheart is likely to be more of a modern bride, a pepper diamond with white gold may be the way to go. If she’s more traditional, avoid that pepper diamond and get yellow gold and a white diamond. Either way, plan and purchase everything ahead of time.
Increasing Your Household Size
Sometimes, a bundle of joy is a big surprise. Often, though, family planning takes years. If you know that you and your spouse are thinking of adding to your household size in the coming year, it’s a good idea to look at your health insurance plan’s inclusions. Does your health coverage include pregnancy insurance? After all, you’re going to want the best prenatal care pregnant women can get and the best medical care for your newborn baby. Whether you have Medicare, Medicaid, or a private health insurance plan, check your eligibility for pregnant women and maternity care before anyone gets pregnant.
Moving to a New Country
Another life event that should include a fair amount of preparation and pre-purchasing is moving. Sometimes, your job takes you overseas. Other times, you and your spouse decide to move to another area of the world for personal reasons. Either way, there’s plenty to make sure of ahead of time. How will your immigration status impact your ability to find work or get health insurance in your new country? What rights do U.S. citizens have, and do you need to obtain a visa? What do the world of medicine and clinic appointments look like there? If you need any medications or special services for a pre-existing condition, these are important to take care of ahead of time. Going on a new adventure is great, but you need to be prepared, especially if you’re traveling with a family.
Life is a series of adventures, and there are plenty of surprises along the way. Thank goodness for that. Otherwise, things would get pretty boring. Nevertheless, there are things to prepare for if you want to make sure that you’re covered financially and in terms of medical care. There’s no shame in being prepared for massive life events. Quite the contrary—deciding on the big things gives you more peace of mind, leaving you free to improvise when it comes to the daily decisions that come your way.