If we carry around a spare tire in the back of the car, we’re covered in case of a flat, right? Not always.
A few years back, I had the privilege of experiencing a flat tire at midnight on a dark, muddy country road. I thought, “No problem, I’ll just pull out the spare.” It was also flat. The spare tire was placed in that vehicle when it was new and had never been used. The assumption was that it would do the job when needed. But what changed? Time.
As time went by, the spare had slowly lost its air. What “spares” do you currently have that are no longer doing the job? Spares don’t last forever. They need to be maintained. Below are a few things I suggest you look at this week:
- Life Insurance: Does it still match your needs? Have you added a mortgage or had children since you first obtained that plan? Are the correct beneficiaries listed?
- Homeowner Insurance: Do you have the proper coverage?
- Your Will: Again, is it up to date? If something happens to you, what will happen to your kids?
- Emergency Fund: Do you have one? If you don’t, will you pull out the credit card and incur additional debt if something happens? Are you prepared for an emergency?
I recommend that you do one more thing- go out to your car and check your spare tire to make sure you are prepared should you have a flat. Don’t procrastinate!!
You never know when you might end up with a flat tire at midnight on a dark, muddy country road.
Until next time . . .
My Financial Life Coach LLC
Financial Life Coach
“Helping You Get Your Financial House In Order”
Delaware, OH 43015
Visit us at http://www.MyFinancialLifeCoach.net