There are several pieces of ‘life admin’ that are forever sitting on a to-do list. I know I’m useless. But procrastination always wins the day… until now, perhaps?
Q1 – No payday loans or credit card debt. One tick in the box. And a silent thank you to my parents for drumming it into me that I should always pay things off straight away, if at all possible.
Q2 – Again – I tick the box of having three months of income in cash. Although I find it galling to have cash sitting doing (next to nothing), I’ve been ‘between jobs’ before. So I do get the point of having a cushion to fall back on.
Q3 – Ah. Life insurance… I think I might have some basic cover as part of a bank account. But otherwise, I’ve failed here. I know I should get it – but in honesty, it’s probably one I won’t worry too much about right now as I currently have no kids or partner I’d be leaving behind.
Q4 – Epic fail here. My parents have been on at me to make a will for literally years. A couple of years ago, I scribbled something on a sheet of paper and gave it to my folks before I left for three months of travelling. But this is definitely something I know I need to do. (PS – I’m reassured, but also quite shocked that only 6% of British women in my age bracket have a will.)
Q5 – Hurrah. I’m back into plus points as I have a workplace and private pension. It’s another one my parents drummed into me very early on. Ever since my first pay rise, I’ve taken part of the extra earnings and paid it into a pension before I got used to having it in my wallet. I feel somewhere between very dull and very smug about this!
Q6 – I do have a stocks and shares ISA, but if I’ honest, I rarely ever look at how it’s doing. I use it as a way to save each month and trust (hope) that it will come out better than any bank or cash savings option.
So – still on the to-do list are life insurance (a medium priority for me) and the will. There are lots of reasons I’ve procrastinated on the latter, but this does remind me I really shout get on and sort it. Deciding who gets a couple of minor family heirlooms is one thing, but lasting power of attorney and beneficiaries on my pensions are two things I really hadn’t thought about. A timely reminder to float this back to the top of the life admin list!
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