If you watch the news, it’s easy to get feelings of anxiety. Here are some practical steps to prepare your finances for an emergency.
- Save 3-6 Months of Your Expenses. Having an emergency fund will give you a cushion when the unexpected happens.
- Get Covered. Review your insurance and make sure you are adequately covered.
- Stick to Your Budget. Invest for the long-term and pay attention to your credit. When emergency strikes, these will be your weapons.
- Designate a Power of Attorney. Set up a living will and a will. Designate who will have Power of Attorney.
Emergencies happen, but preparing your finances in advance will help take the pressure off you and your loved ones.
Related: Why You Need A Will