1. Illness

Everyone gets sick from time to time, but the paid sick days built into your wage package work better for the flu than for more serious illnesses like cancer. Health insurance covers the medical bills, but what about lost wages?

What to do: "Familiarize yourself with company benefits before you need them,” McPherson said.

If the benefits aren’t generous, buy supplemental insurance, like that offered by Aflac, or income insurance, to cover loss of income resulting from illness or injury.