Ready For Unsteady

Ready For Unsteady logo – emergency preparedness for everyday life
Ready For Unsteady logo – emergency preparedness for everyday life

1

Financial Resilience

Financial resilience is the foundation of all other preparedness. Without it, even the best plans can fall apart in a crisis. Having a stable financial base with emergency savings, access to cash, and protecting documents gives you the flexibility to respond, recover, and make smart decisions when disasters disrupt your routine.

Financial resilience is essential for all other aspects of disaster preparation.

In the event of job loss, illness, or other financial emergencies, having savings for 3-6 months is critically important. 

Getting your finances in order will provide the resources needed to:

  • Cover Immediate Needs: In the aftermath of a disaster, essential expenses like food, shelter, and medical care can be significant. A financial safety net ensures you can cover these costs without going into debt.
  • Recovery: Financial resources can help you replace damaged property, rebuild your home or business, and cover unexpected expenses related to the recovery process.
  • Mitigate Stress: Financial worries can compound the stress of a disaster. Having a financial cushion can help alleviate stress and allow you to focus on recovery efforts.
  • Access Essential Services: Many disaster recovery services require upfront costs or have eligibility requirements that depend on financial status. A financial safety net can help you access these vital services.
  • Prepare for Future Disasters: Financial preparedness allows you to invest in preventative measures, such as upgrading your home’s structure or  purchasing insurance, to reduce the impact of future disasters.

Preventative Measures

 

Make physical and digital (encrypted) copies of the following documents and store them in a secure, easily accessible place in the event of evacuation (fireproof/waterproof sleeve, cloud storage, USB drive in a go-bag):
  • Personal IDs: Driver’s license, passport, birth certificates, Social Security cards.
  • Insurance Policies: Home, renters, auto, health, life.
  • Financial Records:
  • Bank and credit card account info.
  • Loan documents (mortgage, car, student).
  • Investment records (401(k), IRAs, brokerage accounts).
  • Property Records: Deeds, titles, and leases.
  • Medical Records: Health insurance, prescriptions, advance directives.
  • Legal Docs: Wills, powers of attorney, custody documents, marriage/divorce papers.

 

Keep a running list (physical and secure digital copy):
  • Bank Accounts: Include account numbers and institution contact info.
  • Credit Cards: Include customer service numbers and card numbers (partial is okay for security).
  • Loans: Track balances and due dates.
  • Recurring Subscriptions: Streaming, cloud services, utilities—know what’s auto-billed and from where.
  • Retirement & Investment Accounts: Include how to access and who to contact.

 

  • Maintain a Bill Calendar: Track payment due dates for rent/mortgage, utilities, loans, and credit cards.
  • Enable Alerts: For due dates or unusual activity.
  • Auto-Pay Setup: Only for essential, stable accounts; make sure funding source is reliable.
  • Back-Up Payment Method: Have a secondary card/account in case of loss or fraud.
  • Temporary Hardship Plans: Know which creditors offer deferment or disaster relief options.

How To Build an Emergency Fund

 
  • List All Expenses: Make a comprehensive list of your monthly expenses. Start with fixed costs (rent or mortgage, utilities, insurance, car payments, phone/internet, etc.) and then add on variable costs (groceries, gas, chidcare, etc.)
  • Include irregular expenses: Don’t forget quarterly bills, annual renewals, or seasonal costs like school supplies and car maintenance.
  • Budget Apps: Tools like Mint, YNAB (You Need A Budget), or Rocket Money can sync with your bank accounts and credit cards to automatically categorize spending. 
  • Calculate Your Emergency Fund Goal: Multiply your monthly budget by the number of months you choose to determine the amount you need to save for your emergency fund.
  • Most people aim to cover 3–6 months of expenses. If you’re self-employed or have irregular income, consider 6–12 months.
 
  • Cut Unnecessary Expenses: Identify areas where you can reduce spending, such as dining out, entertainment, or subscriptions.
  • Increase Income: If possible, explore ways to increase your income, such as taking on a side job or freelancing. Budgeting apps will also identify subscriptions you may have forgotten about.
  • Automate Savings: Set up automatic transfers from your checking account to your savings account each month.
  • Be Realistic: Set a realistic savings goal based on your income and expenses.
  • Stay Consistent: Make saving a priority and contribute to your emergency fund regularly.
  • Review and Adjust: Periodically review your budget and adjust your savings goal as needed.
  • Keep a portion of your emergency fund in physical cash, readily accessible in case of power outages or other disruptions to online banking services. 
  • Spread your savings across different accounts: Consider keeping emergency funds in at least two separate banks to reduce risk during institutional outages.
  • Diversifying with gold, silver, and cryptocurrencies can provide a layer of protection against economic fluctuations and potential disasters. Carefully consider the risks and rewards associated with these alternative assets and allocate your funds accordingly.
    • Add precious metals as a hedge: Gold and silver retain value during currency devaluation or economic instability – store in small, tradable forms (ex. coins).
    • Explore digital and decentralized options: Cryptocurrencies like Bitcoin or stablecoins can offer fast access and mobility, especially in high-inflation scenarios or international crises. Use only what you’re willing to lose, and store them securely in a private wallet.
  • Maintain a Bill Calendar: Track payment due dates for rent/mortgage, utilities, loans, and credit cards.
  • Enable Alerts: For due dates or unusual activity.
  • Auto-Pay Setup: Only for essential, stable accounts; make sure funding source is reliable.
  • Back-Up Payment Method: Have a secondary card/account in case of loss or fraud.
  • Temporary Hardship Plans: Know which creditors offer deferment or disaster relief options.