September is National Preparedness Month! Are you prepared for the unexpected? It's essential to have a plan in place to protect yourself and your finances in case of emergencies. Here are some tips and resources to help you get started:
Build an Emergency Fund: Set aside funds in a separate savings account to cover unexpected expenses like medical bills or car repairs. Aim for at least three to six months' worth of living expenses.
Review Your Insurance Policies: Make sure your insurance coverage is up to date and adequate for your needs. Consider additional coverage for specific risks like floods or earthquakes.
Create a Financial Emergency Plan: Outline steps to take in different scenarios, such as job loss or natural disasters. Include how to access your emergency fund and prioritize expenses.
Organize Important Documents: Keep essential documents like identification, insurance policies, and wills in a secure location. Make digital copies and store them securely online.
Stay Informed and Educated: Stay updated on potential risks in your area and sign up for alerts from local authorities. Educate yourself on financial preparedness strategies through reputable sources.
Being prepared today can make all the difference tomorrow.
Centennial Bank, Member FDIC.