Daily Deals from a Nerd Mom

Are you prepared for an emergency, and what would you do if the worst happened today? It’s not a nice thing that many people want to think about, but sadly, some people get more than their fair share of disasters and emergencies.  

But when you have a solid plan for an emergency, it can provide a sense of relief, even if the emergency never occurs. It’s like having a safety net ready to support you in getting things back on track. So if your roof begins to leak and you need to call in a reliable roofing company, you won’t have to worry. You’ll have a plan in place and the finances you need to sort the emergency quickly.

These tips can empower you to put measures in place, giving you a sense of control and confidence in the face of an emergency. 

Emergency Funds

There is a rule of thinking that you must put away 20% of your income to savings or towards emergency funds to assist you with larger purchases or emergencies. Even if you can’t afford to put away 20%, putting away what you can realistically afford is a great start. If you don’t want just one savings fund to dip in and out, why not start different sinking funds instead and split the money between each one until you can build nest eggs you can rely on? You can have emergency income funds, car funds, home appliance funds, repair funds, or anything else you wish, but lump sums of money can be beneficial in the event of any emergency. While you might still need online loan now to help with the more significant amounts required, you can reduce borrowing by using savings if you have saved enough. 

Insurance

Having appropriate insurance coverage can mitigate some of the cost of rebuilding your file in an emergency, but what type of coverage do you need? Life, health, auto, long-term disability, flood, homeowners, pet, and even long-term care health insurance can be valuable policies to help you prepare for emergencies. 

You never know when something will impact you, i.e., the cost of this upheaval or their impact on the trajectory of your life in the aftermath. Insurance policies can help you get back on your feet, start to rebuild, and move forward once you need to. And if you don’t have to use them, they are simply there for added peace of mind should you encounter any issues in your life. 

Planning

You can plan for various scenarios when it comes to emergencies, depending on what you think your family might be at risk from. These can range from health-related injuries, work accidents, weather emergencies, and more. 

Having a plan of what you will do if you are faced with an emergency could help you to think clearly and give you options for help and support. 

• Who will be your emergency contacts? 
• Do you have a list of easy-to-find emergency contact details? This should include the phone numbers of your parents, family members, school doctors, and any other important contacts. It’s also a good idea to include any health conditions or allergies you or your family members have. Do you have a generator in case of a power outage? This could be a lifesaver if you need power for medical equipment or to refrigerate your medications. It’s a good idea to plan how to use a generator in an emergency. How will you heat your house if the heating fails and the temperatures drop 
• If you are unable to be home with your kids or collect them from school, who will you call for childcare? 
• Can you stockpile emergency essentials such as first aid kits, batteries for flashlights, lights, socks, blankets, water, tinned food, etc., to help you with a wide range of emergencies?

Knowing the answers to these questions and having support and plans in place can give you a sense of security and peace of mind, knowing that you have yourself and your family under control.

Image credit: Elle Hughes