Most people have experienced being caught out by unbudgeted costs that have resulted in a serious hit to the bank balance and possibly having to take on debt to stay afloat.

Debt should be avoided wherever possible – it’s expensive and can be difficult to shake off! It’s also scientifically proven that financial stress has a strong co-relationship with poor physical and mental health. That’s too high a price to pay!

There are different types of Financial Shock

The table below provides brief examples:


i.e. timing and value are largely known


i.e. timing and value are largely unknown


i.e. they may not happen


  • School uniform & fees
  • Kids sports fees
  • Rates
  • Christmas costs
  • Insurance premiums


  • Car repairs
  • Dental work
  • Medical expenses
  • Home maintenance
  • Insurance excess


  • Redundancy
  • Ill health

Some of these are going to happen, so what can you do to prepare for them?

Love My Money has written a more detailed eGuide and has an online step-by-step Journey. They’re not difficult or complicated and of course the sooner you start, the better prepared you’ll be.

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