Are You Financially Ready for a Disaster?
Natural disasters are very scary things and every family needs to be well prepared to deal with them- including the financial aspects. But disasters aren’t just limited to weather concerns – flat tires, unexpected medical expenses, job loss, and many other things could set us up for disaster in our wallets.
A recent FEMA publication indicates that as an individual’s income goes up, they are more likely to take action to prepare, but as a person’s income decreases, they are less likely to set aside money for emergencies. But building a rainy day fund is essential for every individual, and is one of the best ways to rebound from emergencies.
Operation HOPE and FEMA have been regularly collaborating to build financial preparedness through the Emergency Financial Aid Kit (EFFAK). The EFFAK can help you start to prepare by offering guidance on organizing and securing important documents, provides important advice on managing finances and credit scores and describes what to expect should a disaster strike your community.
Please visit the FEMA website for more information.