Everyone goes through transitions in life, ready or not. Moving, switching jobs, getting married, having children – each one creates additional financial challenges. Some of life’s changes are foreseeable, while others catch us unprepared. Taking the necessary precautions is key to ensuring your financial stability amid these shifts.
For me, 2014 is the year of transition. As the year began, my husband, Brian, and I faced a mountain of change. I started running my firm, Workable Wealth, full time. Brian was about to close out his 10 years of service with the Navy, and take a job in the civilian sector. To top that off, we somehow got an itch to put our downtown San Diego condo on the market, and enter the family planning stage of life.
What ensued was frenzy and chaos in the early months of this year. It was damn near impossible to master every challenge. Financially, we had the cushion for transitions we expected, but there are always curveballs. For example, we sought a fertility specialist after we learned that the family planning was not as easy as we thought. That led to a whole new set of tests, treatments – and costs.
Handling life’s transitions is stressful. Take the following four steps to coping with the change and avoiding financial distress in such uncertain times.