Integrated Family Community Services 3370 South Irving Street, Englewood, CO 80110-1816 Ph: 303-789-0501

6 Unexpected Life Events That Can Drain Family Finances

It’s not “if” an unexpected event will happen, but “when” it will happen. Being prepared for financial difficulty will make unexpected life events more of an inconvenience rather than a huge burden. No one anticipates being in an accident that will take away their ability to work or to lose their job while expecting a second child, but it happens. Life happens, and there are unforeseen life events, which can quickly drain family finances if you are not prepared.

Debilitating Injuries

A debilitating injury can rapidly deplete finances. You will be paying medical bills and one less person is bringing in the bacon. Ambulance rides or major surgeries aren’t always completely covered under insurance. Finances are drained even more rapidly if the person suffering the debilitating injury was the sole provider for the household. Make sure you contact professionals, like these injury attorneys in Seattle, for help if you feel this has happened due to negligence or fault of another.

Job Loss

A job loss can be especially stressful on your finances, especially if you are living paycheck to paycheck. Without a paycheck coming in, there is a quick depletion of any money you have in the bank. Mortgage payments and monthly bills and expenses become an ugly nightmare.

Major Household Repairs

Household repairs can add up quickly and unexpectedly. Insurance is helpful, but does not always cover the entire cost. You might also have a high deductible, which means cash out of your pocket. Replacing air conditioning units, water heaters, or a flooded basement are all expensive unforeseen costs.

Sudden Travel

There are some life events that can’t be avoided. Planned travel is fun and exciting. Unplanned travel, not so much! You may have unplanned travel if a relative or close friend suddenly passes away. Plane tickets, a hotel stay, and a rental car are not just pocket change.

Car Expenses

It is no secret that car repairs are costly, especially for items such as a new transmission or new tires. It is even more expensive if you need to purchase a new car.


Divorce can create a financial nightmare, especially if there was financial stress before getting divorced. You will still have your monthly bills, but now your income will need to support two separate households. Court costs and legal fees are another cost that can quickly escalate when there are high emotions involved.

An emergency fund with three to six months’ worth of living expenses can help provide a cushion if and when there is a sudden unexpected life event. You will have peace of mind knowing you have a few months’ worth of security while you learn to cope and manage whatever curveball life throws you.

Tim Esterdahl

Tim Esterdahl is the editor of IFCS blog. He is a married father of three and enjoys golf in his spare time.
Tim Esterdahl

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Thank you so much to @ChristianBros Highlands Ranch, Arapahoe Road, and Ken Caryl for helping our clients last weekend, they took care of so many ailing hearts and sick vehicles. Though the hope they gave, lives were changed. We so appreciate your support of IFCS year-round!

Sarah &Javon, Arapahoe Community College Dean of Students sharing excitement for the Food Bank. We visited last week to learn more about the school's programs for students in need and to explore opportunities for collaboration.

Thank you to Rotary Club of Highlands Ranch for their continuous support of our Hunger Alleviation Programs. We are proud to partner with them. Thank you for being a Gold Sponsor of the October 26th Boo-athon Halloween Bowling event.

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