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It seems that there has been an abundance of natural disasters over the past few years. Some of those who have been hit have begun to get prepared in case of future emergencies they may face. Unfortunately, those of us who have yet to be hit only read about it in the news and we do not think it will ever happen to us. Oh, we may have a candle or two put aside in case of a power outage but we never think of being financially prepared for an emergency.

Each and every one of us should be constantly preparing for the next financial emergency that will hit. We should have our financial papers in a safe place and accounts set up with emergency funds. Being financially prepared now can be the difference between security and crisis when it comes to our families and finances.

Prepare a list of all your important papers and round them up to get them into a safe place that will protect them from floods or fires or any other kind of destruction that might occur. Get what you do not want destroyed and put them into a safe deposit box or other type of fireproof box.

Understand what types of losses your renters or homeowners insurance covers. Ask your insurance agent or financial planner about additional coverage for floods, earthquakes, home offices and big-ticket items. Keep copies of your policies in a safe place along with your other important papers.

I like to keep at least $500 in cash at home in a good hiding place where I can get to it quickly in case of a sudden emergency. Don’t keep the money in large bills but it should be in small denominations for easier use.

Keep a list of important emergency contacts, including direct family members, doctors, medical facilities, numbers for your bank, insurance agent and company, lawyer and financial planner/advisor. Credit card 1-800 numbers can help you quickly retrieve account information.

Perhaps the most important thing you can do to prepare for an emergency if to have a savings account for emergencies. You should have at a minimum a 3-6 months living expenses savings account fully funded for not only those natural disasters that may occur but also those financial emergencies that will pop up from time to time. An emergency fund of this type will relieve the pressure that comes should an emergency arise.

In order to ensure that you family is protected both financially and physically make sure that you follow these guidelines. You can also learn more about controlling your financial situation by getting the report Money Management Made Easy.

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