A little planning can help you cope with natural disasters and other emergencies.

Many Americans focus on emergency preparedness. But few include financial preparation in their plans. From storing important documents in a safe haven to setting up an emergency fund account, being prepared now can mean the difference between financial security and financial crisis.

These simple tips from financial experts at Union Bank of California can help everyone be financially prepared for natural disasters. Keep the original in a waterproof bag in a locker or permanent ‘evacuation box’ and keep the copy in a safe place. Use CDs to back up important documents on your computer. If possible, keep a copy with a friend or relative who lives outside the area.

• Know Your Insurance Policy

Understand the types of damage your renter’s or homeowner’s insurance covers. Ask your insurance agent or financial planner about additional coverage for floods, earthquakes, home offices, and large items. Keep a copy of the policy in a safe place along with other important documents.

•Keep cash on hand

Keep at least US$300 of her cash at home in a place that is readily accessible in case of a sudden evacuation. Money should be small and easy to spend.

• Create and maintain a list of emergency contacts

Maintain a list of important emergency contacts, including immediate family members, doctors, medical facilities, bank phone numbers, insurance agents and companies, lawyers, financial planners/advisors. maintain. A credit card number between 1 and 800 allows you to quickly retrieve your account information.

• Set up an emergency savings account

This account, separate from all other accounts, should contain enough money to cover at least three to six months of living expenses. I have.

Union Bank Executive Vice President Ronald Kendrick said: “Please follow these guidelines to ensure you and your family are financially protected.

If an idea has lasted this long, you should ask yourself if there is any truth to it, but times have changed a lot since then, so be careful. Should I pay now?

Completely contrary to modern thinking. Few people still live by his mantra, but the lesson of what Shakespeare said is just as true today when it comes to lending to or from individuals. , there are thousands of reputable companies that can get you your money back if you want. Fine print terms apply, of course.

Debt not only degrades agriculture, it can also destroy people’s livelihoods. Maybe 1 in 100, but if it turns out to be you, you’ll agree that’s too much. Some of those 100 are in debt, some are in debt. Few people go through life without struggling with debt.

When you allow debt to become an important part of your financial life, you leave yourself wide open in case circumstances change. If interest rates rise sharply, overtime pay will decrease and part-time jobs will disappear. The biggest risk most people face is being laid off or getting sick, losing their job or having to pay medical bills. Can you make the payments without monthly income? Most people couldn’t.

We all live like nothing changes, but change is inevitable. It is one of the immutable laws of nature. You may never get sick and you hope your work will last as long as you want, but planning your life based on these assumptions is risky. By living on bad credit, you are literally betting on a house that you can always afford to pay off. We hope it turns out to be a safe bet, but it’s wise to reduce your debt so that you can get through the difficult times in your life.

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