Playing the "What If -- " Personal Finance Game

Some people would call me neurotic or a worry wart. That's fine; I'd call myself a little of both with a lot of pre-planner and organizer mixed in as well. Sure, I worry about stuff, but part of my worrying is placated by proper planning.

Part of this planning takes shape in the form of a game my wife and I play. Well, it's not really a "game" in the traditional sense of the word it's more of an activity that helps us to plan for the unexpected. It's a great way to kill time on boring car rides or at dinner when you're out of things to talk about, and can be a fantastic way to exchange thoughts or ideas regarding a variety of personal finance related issues.

The "What If" Game

The "What if..." game is a simple activity and only involves you or a significant other completing a personal finance ending to the question, "What if..."

"...I lost my job?"

"...my job was transferred to another state?"

"...we had a/another child unexpectedly?"

"...our unexpected child became unexpected twins or triplets?"

"...the house burned down?"

"...I retired early?"

"...I became disabled?"

"...I passed away tomorrow?"

"...we both passed away tomorrow?"

"...we hit the lottery?"

Many of the questions you might be asking may not be fun or easy to answer, but that is part of life planning. If everything was fun and easy, you probably wouldn't need to plan.

Fitting the Game to Your Life

How the game is played is really up to you and your personal situation. Of course the questions you ask yourself or your significant other should be focused toward your personal life and lifestyle to make the game more effective.

The questions a single person asks himself or herself could be quite different from the questions married people ask one another, and the questions married people ask one another could be drastically different from those people with children ask. However, in many instances, the questions can remain the same; it's the answers that will likely be different.

The Object of the Game

The object of the "What if..." game is really to get you thinking and planning for the unexpected; and on the same page if you share a financial life with someone else.

I'm a thinker and a planner -- my wife on the other hand, is more of a "go with the flow" type personality. This means it's often hard for me to read how she feels regarding personal finance related issues. Therefore, it helps us to play this little game in order to assist me in understanding her stance on certain topics and how we can best handle a situation should it occur. And while many of the questions we asked have yet to come to fruition (and hopefully some never will), it's at least good to discuss them and be prepared should they occur.

More From This Contributor:

How I Maintain My Financial Willpower

How Being Prepared Saves Me Money

Getting a Spouse on the Same Retirement Planning Page

Disclaimer:

The author is not a licensed financial professional. The information provided in this article is for informational purposes only and does not constitute legal or financial advice. For financial advice, readers should consult a licensed financial advisor. Any action taken by the reader due to the information provided in this article is solely at the reader's discretion.