Planning can help you accomplish your personal financial goals as well as manage unexpected situations. These tips can help you begin planning so you are prepared for financial or other emergency situations.
- Create an emergency fund for unexpected expenses. An emergency fund can be vital not only for dealing with natural disasters but also for dealing with unexpected life situations such as a job loss. The recommended amount for an emergency fund is generally three to six months of living expenses.
- Identify and organize your important financial documents. These documents can be crucial in helping individuals and families move forward following a natural disaster.
- Evaluate your insurance coverage and make a home inventory of your possessions.