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How to Prepare For An Unexpected Emergency

You can't plan for every contingency. But here are the basics to fortify your financial life in the event of an unexpected emergency.

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.

  1. Save 3-6 Months of Your Expenses. Having an emergency fund will give you a cushion when the unexpected happens.
  2. Get Covered. Review your insurance and make sure you are adequately covered.
  3. Stick to Your Budget. Invest for the long-term and pay attention to your credit. When emergency strikes, these will be your weapons.
  4. 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

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