Posted in Preparing for the Unexpected.

Preparing your financial survival kit

Life TubeNatural disasters are unpredictable and in many cases can be life changing for those caught up in them. The recent earthquakes in Christchurch have got many Kiwis talking about and actively putting their survival plans in place.

Whilst the main emphasis should be placed on preparing for the immediate survival of your family from a natural disaster, for example meeting points, food and water, we shouldn't overlook the financial needs and possible financial issues that will arise as soon as you've established your loved ones are ok.

Consider that banks could be disrupted, limiting access to cash. Government assistance, insurance, and other financial relief (which may or may not cover your total loss) may not return you to the financial position you have previously enjoyed.

Ultimately, you'll remain responsible for most if not all of your debts and other financial obligations, and as soon as disaster hits, you'll start to feel the pressure. However, it won't hurt as much if you are prepared.

Consider the following tips to help manage your financial situation:

Most importantly – get started today.

This article is based on 'Preparing A Financial Survival Kit' by Broderick Perkins