In our younger years, we like to assume we’re invincible and we also like to take all advice with a pinch of “Yeah, right, old man.” Unless you’re taught a hard lesson by involving yourself in sports (conventional or extreme), you do tend to continue this point of view. Rather than getting a rude awakening, you need to prepare for a worrisome eventuality and be prepared to take five months off for leisure or because of injury.
Obviously, the worrisome part isn’t attributed to leisure. It’s connected to the woes of being injured and not being able to earn or pay your bills. It’s not impossible, no matter your profession. A fall (I was going to add ‘unexpected’ but really, how is a fall ever expected) can happen in the safest and most sedentary of jobs.
Therefore, you need a real and smart contingency plan, especially if you’re in any form of debt. They’re easy to come up with but not always easy to fulfill and implement.
There’s no predicting a car crash, there’s no predicting a misstep, but there are ways of coming up with designated savings accounts. What you should start with is working out your monthly expenses (which many of us aren’t clearly aware). How much do you need each month for your bills, debts, and leeway? Whatever that is, you should allocate it to an account you won’t touch.
Aim for six months’ worth of emergency funds. It could easily take that to recover from some broken bones and issues. I’d suggest that you plan to take five months off for leisure or because of injury rather than six just because. The exact length of time is obviously impossible to determine. But prepare, for your sake and of those you love or just like. It’ll make things easier if the worst is to happen, and if not, it’ll be a good sum to blow when you’re older.
Taking a break from work for leisure is a great way to recharge your batteries and prevent burnout. It’s essential to take a break every now and then, especially if you’re working in a high-pressure job. But taking an extended break of five months or more can seem daunting, especially if you’re not financially prepared.
The first step to taking an extended break is to plan ahead. Start by figuring out how much money you’ll need to cover your expenses while you’re away. This will include things like your rent or mortgage, utility bills, food, transportation, and any other expenses you typically have.
Once you have a budget in place, you’ll need to start saving. The earlier you start saving, the better. If you’re planning to take a five-month break, aim to save enough money to cover your expenses for at least six months. This will give you a bit of a buffer in case your expenses are higher than expected or if it takes you a bit longer to find work when you return.
There are a few different ways to save for an extended break. One option is to cut back on your expenses leading up to your break. Look for ways to trim your budget, such as cutting out unnecessary subscriptions or dining out less frequently. Another option is to pick up some extra work before you go. Consider taking on some freelance work or picking up a part-time job to boost your savings.
It’s also a good idea to have a plan for what you’ll do when you return from your break. If you’re taking time off for leisure, you may be able to return to your job when you’re ready. However, if you’re taking time off for an injury, you may need to look for new work when you return.