How to Disaster Proof Your Finances
You can’t always avoid natural disasters like earthquakes, floods, or hurricanes, but you can minimize their impact on your finances. Do you have a plan for how you would cope if a hurricane like Katrina or Floyd or some other potentially devastating event even the loss of a job hit you?
Have a Plan
Think about. What are the disasters that could most likely affect you and your finances? Now, imagine that a disaster did happen. What would you want to have taken care of ahead of time? Begin to do those things. Take care of yourself, your loved ones, and your property first; prepare a survival plan; maybe stock up on clean water, flashlights, batteries, an emergency kit, and canned goods. But beyond these steps, it also critically important to set up a good practical financial plan.