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 (which affected 63 percent of respondents in 2014), according to
a recent survey by the National Endowment for Financial Education® (NEFE®). 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.