Every year, National Prepareathon Day reminds us to take proactive steps to protect ourselves and our families from unexpected disasters. Traditionally, this day focuses on natural disasters like hurricanes, floods, and wildfires – but it’s just as important to prepare for financial disasters.

An unexpected job loss, major medical expenses, economic downturn, or even a cyberattack could leave you facing financial hardship. Just as you would stock up on emergency supplies for a storm, you should also build a financial safety net.

Here are some simple, effective ways to can prepare for a financial emergency:

🛡️ Build an Emergency Savings Fund

• Aim to save three to six months’ worth of living expenses.
• Keep this money in a separate, easily accessible savings account.
• Start small — even saving $10–$20 a week can add up over time. Setting up an automatic transfer with your FVSBank account can help.

📋 Create a Financial Preparedness Plan

• List all your expenses (rent/mortgage, utilities, insurance, debt payments).
• Know your minimum monthly obligations — what you must pay if income stops.
• Identify non-essential expenses you can quickly cut if needed.

📄 Organize Important Documents

• Keep copies of:
  • Bank account information
  • Insurance policies
  • Wills and powers of attorney
  • Social Security cards, birth certificates, and IDs
• Store documents in a waterproof and fireproof container.
• Consider saving digital copies in a secure, encrypted cloud storage account.

💳 Review and Protect Your Credit

• Monitor your credit report regularly at AnnualCreditReport.com.
• Freeze your credit to protect against identity theft if you’re not planning new credit applications.
• Know which debts are highest priority (typically mortgage/rent and car loans).

🏦 Maintain Access to Banking Services

• Set up online banking and mobile app alerts to stay informed about your accounts.
• Know your bank’s branch locations and ATMs in case of a regional emergency.
• Sign up for automatic payments where appropriate to avoid late fees.

🛠️ Additional Quick Tips

• Review insurance coverage annually — health, home, auto, and life.
• Talk with your family about emergency financial plans.
• Have a backup income plan — think about side hustles or temporary work options.
• Avoid new debt unless necessary while building your financial safety net.

Final Thoughts:

Just like preparing an emergency kit for a storm, preparing your finances today can bring peace of mind for whatever tomorrow may bring.

National Prepareathon Day is the perfect reminder that while we can’t predict the future, we can be ready for it.