How can I ensure I will always be able to provide for my child’s happiness no matter what happens? In the event that I have to pay for a sudden increase in my bills, the money shouldn’t have to come from my child’s developmental classes or other things that he will enjoy as he grows up.

This realisation really hit home recently when we had to deal with a sudden increase in expenditure as Nate’s recent medical checkup necessitated the start of speech therapy sessions, which certainly do not come cheap. Thankfully, both my husband and I are still working so we can still finance this, but I shuddered at the thought of what would happen if one of us were no longer contributing to the household finances due to unexpected circumstances. With that in mind, I went about building a safety net – diversifying our sources of income, life insurance, critical illness, and emergency savings.