When you think of protecting your children, you think about shielding them from the many dangers that exist in the world. You might invest in a home security system to protect your family from a burglary. Perhaps you install security software on your computer to minimize your child's exposure to cyber criminals and inappropriate content. You may even visit the school to talk with the principal to defend your child against a classroom bully. While all advisable ways to protect your children, there is one often overlooked area of protection – finance.

As a parent, you're financially responsible for raising your children. This not only means having the funds to cover bare essentials like food, drinks, clothes, and a roof over their heads. It also means being responsible for their education, social development, health and wellness, and much more until they're at least 18 years of age (however, most parents would agree it lasts a lifetime). By effectively planning for the present and future, you can ensure that your children are afforded the best quality of life. Below, are a few examples of how to financially protect your children.

• Plan for Emergencies – You don’t have to be an adult for too long to realize that life can be unpredictable. When you were younger, if your car broke down or you lost your job and couldn’t afford rent, you could use public transportation and sleep on your parent’s couch until you were back on your feet. Now that you have children, you’ll need to protect them in the event a financial emergency should arise. A savings account with funds for a rainy day keeps things running as normal without throwing you off budget. Backup plans like short-term loans are also an option if you’re in a jam. Companies like MaxLend offer eligible applicants several hundred dollars in one business day for emergencies.
• Save for College The cost of higher education continues to skyrocket. Though here is assistance like financial aid, scholarships, and grants, it can still cost thousands of dollars per semester. It is best to start putting away for college as soon as you can. This reduces or eliminates the need to take out student loans which can haunt your children for years into their adult lives. 529 savings plans are said to be great solutions for parents looking to maximize their college savings.
• Prepare a Will – Though you hope this day doesn’t come in the near future, the truth is, death is eminent for each of us. In order to protect your children, you should prepare a will. This is a legally binding document that details who should raise your children (should they be young when you pass) and how your assets are to be distributed. This protects them from having to fight the state for rights to your property in the future.
• Get Life Insurance – Again, not a topic you want to stay on too long, however, very important. Should you pass away, you want to know that your children are financially cared for. Not to mention, when you pass, you’ll leave behind whatever financial obligations you didn’t take care of to your children. A life insurance policy can give them the cash they need to give you a proper burial, pay off any debts, and live on for a while as they grieve.

There is no denying that you love your children. You do the best that you can on a daily basis to ensure that they are loved, supported, and protected. With that, it is important to remember to provide as much financial protection as possible. As life occurrences have a way of being attached to finances, it is best to make sure that your children are prepared for a financial crisis and higher education and everything in between.

Written by Guest Author for The Healthy Moms Magazine and legally licensed through the Matcha publisher network. Please direct all licensing questions to legal@getmatcha.com.