Disasters and Financial Planning
If your family was suddenly hit by a natural disaster or an unexpected illness or job loss, how would you handle it? There are several steps you can take to prepare your home — and your finances — to lessen the blow.
More than one-third of Americans (36 percent) still rely on credit cards above all else when faced with an unforeseen major expense. While many adults (32 percent) realize the benefit of an emergency savings account, nearly half of respondents (48 percent) report living paycheck to paycheck. Having a solid financial plan in place can help make facing unforeseen expenses, like those in the wake of a disaster, more manageable.
To help people mitigate potential damages and lessen the financial blow of a disaster, NEFE has partnered with the American Red Cross and the American Institute of Certified Public Accountants (AICPA) to produce a Disasters and Financial Planning: A Guide for Preparedness and Recovery.
Disasters and Financial Planning is a comprehensive, interactive guide developed to help people take proactive steps to minimize the potential impact of disasters on their lives and financial well-being. The guide is divided into six sections—with easy-to-follow checklists—covering topics such as making a disaster plan and protecting your property, income and records.
[Any reference to a specific company, commercial product, process, or service does not constitute or imply an endorsement or recommendation by the National Endowment for Financial Education.]