Financial Preparedness

Posted on June 4th, 2014 by Discount Debbie

financial preparedness

Nothing stinks worse than being caught in the middle of an emergency and having no money to fix it. It could be you’re stranded on the side of the road. It could be hurricane season and you have to pay more than your actual gas cost because they are only accepting cash at the station and all you have is a $50. Here are a few ways to avoid these situations.

Emergency Fund

Don’t wait for your car to break down to have money set aside for the repairs. Have your car or home looked at to see what needs to be repaired. Fix what needs to be fixed and save money on the things you know will be coming up. If you can get those things fixed a little at a time, but sooner, do so. Many fixes that are small can prevent other repairs that may be bigger. While trying to keep up with these little repairs sock money away for the unexpected. This includes small bills for emergency weather evacuations when registers are down and only hard cash is being accepted by businesses.

Don’t Rely on Plastic

I’m not only talking about credit cards, though it’s not good to rely to much on those either. I’m talking about debit cards as well. Always have some cash hidden away to use in places where plastic either isn’t or can’t be accepted. This includes on family vacations, road trips, or even on outings to the zoo. I once needed $40 for a tow truck that was passing by to pull me out of a ditch. They wouldn’t have helped if I hadn’t been able to pay cash up front.

Keep Records

Keep records of what bills you have paid. Keep a carbon copy of the checks you have written. Keep receipts for doctor appointments, car payments and repairs, and home maintenance. Also keep a list of phone numbers that you need. Keep your bank statements (or print from your online banking).┬áThese are the things that will help you the most when a company thinks that you have missed a payment. You don’t want to┬ápay a bill twice.

 

 


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