The current climate is so precarious that it feels almost impossible to properly plan for an emergency. It seems that the cards are stacked against the vast majority of us, and while it’s not entirely in your head, it’s important to maintain a sense of autonomy over your finances and feel prepared for whatever comes your way.
Despite the level of uncertainty, we are currently living with given the global health crisis and massive unemployment, there are still some things you can do to feel that you are in control and ready for when an emergency strikes. The following is a brief playbook to help you get things in order.
Prepare a Checklist
The first step to being prepared is to always keep a checklist handy of the things that you know need to be taken care of right away. Whether you want to make sure that your personal belongings are in good shape, your home will weather a major storm, or your small business will survive a robbery or economic instability, then the checklist of immediate things to do will help keep you as organized as possible so that you do not freak out. Keep the list handy in your phone, and a hard copy in your purse or backpack, or anywhere else you know that you can access it easily in case of an emergency. In case you’d like to know how you need to react according to a very specific situation – a hurricane, flood, earthquake, wildfire, or a cyber attack that leaves your personal information vulnerable – you can find several guides online that will help provide outlines for even the most outlandish of scenarios. It helps to review these so that you know your checklist helps you keep all bases covered.
Find Financial Assistance
You must have heard this advice before: you need to wrack up at least three to six months of emergency savings to cover your living expenses in order to be best prepared for the worst-case scenario. However, economic constraints being what they are, this isn’t always possible for the vast majority of people. Or, even if you have done your due diligence, you may realize that the money isn’t enough to cover the expenses of a collapsed roof or severe damage to your brick and mortar business. This is a heartbreaking scenario, but it happens more often than you’d think. In this case, you may need an urgent loan, and depending upon the scenario that caused the issue, to begin with, you are likely to get one if you apply. Perhaps you suffered significant property damage in the wake of a major storm. You can go through your bank, or contact FEMA to apply for financial assistance that can cover everything from housing, to personal expenses such as food, medicine, and clothing for you and your entire family.
If you are a small business owner, you can secure a low-interest loan to help cover costs related to the damage or even medical bills incurred by you or your employees in the event of an accident. The loan should also help you purchase new equipment or machinery depending on what needs to be replaced. In all cases, you should rest assured that you will most probably be able to find loans and other forms of financial assistance to help you, just make sure to apply early so that you can be on the safe side.
In Case of Injury
It’s bound to happen to any of us at some point; a sudden injury or accident that leaves you or a loved one incapacitated, hopefully not too long. In any case, the first thing you should do is to always have emergency services on speed dial. Call 911 if something happens, and be ready to go to the hospital. Keep your insurance card handy, as well as your debit or credit card, and identification. Even if you do not ultimately have to go through the nightmare scenario of going to the hospital, always keep a first aid kit on hand. Relatively minor cuts and bruises can turn ugly if you do not take the time to disinfect and care for them properly. Ice packs, ibuprofen, plenty of alcohol, and sanitary wipes are all absolutely necessary household essentials.
Emergencies will always happen, and the best you can do is hope that you and none of your loved ones are severely impacted. Feeling prepared and getting a sense of what you need to do immediately to ensure that you have all your bases covered will help you avert bigger problems down the line, and also give you a much-needed sense of control.
