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Money Matters Blog

Monday, January 23, 2012

Preparing Your Finances for Emergencies

When an emergency strikes, you may not have time to grab all your important belongings. Therefore, be sure to take steps in advance to protect certain documents. Follow these steps to prepare yourself financially for an emergency.  

Keep important documents safe.  It’s easy to forget about the documents you rarely use, such as your marriage license or birth certificate.  You should store these in a fire proof safe at home, or consider renting a safety deposit box to store original copies.  

Create an emergency kit. This could be a waterproof box with a lock or any type of safe compartment. Your emergency kit should include copies of your original documents, health insurance cards, telephone numbers for emergency contacts, and emergency cash. 

Always have a rainy day fund.  Get in the habit of saving money for an emergency.  It helps to setup a separate account specifically for this fund.  It’s always better to be prepared and you can learn more about saving by reading our previous post.

Community Financial Credit Union offers a variety of savings accounts to help you be prepared. Learn more about Community Financial by visiting one of our branch locations or calling us at (877) 937-2328.  We’ll be happy to answer your questions and assist you with any of our services.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

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