10 ways to protect your financial well-being during a crisis

1. Make a budget and cut back spending to focus on essentials like food, utilities, transportation, and lodging.

2. Contact credit card companies and lenders to ask about payment options to avoid late penalties, interest charges, and damages to your credit.

3. Freeze debt repayment if you are hard on cash.

4. Reinvest in yourself. Focus on building your skills or broadening your knowledge

5. Utilize your support system and take care of your mental health.

6. Need help? Contact community organizations like food banks and faith-based organizations, for assistance to help cover daily essentials.

7. Create or update your emergency plan an review with those in your household.

8. Watch out for scams. Protect your financial information.

9. Avoid large purchases and make a plan for AFTER the financial emergency .

10. Review and safeguard important documents such as insurances, living wills and durable powers of attorney.

Be Financially Prepared: COVID-19

The Coronavirus is here, and has been declared a Pandemic. While we wash our hands and follow the recommendations advised by the CDC, we also want to stay financially prepared.
In the mist of an illness, the last thing you want to be doing is worrying about money, your loved ones or trying to find your important documents like your insurance cards .

While you take measures to prevent getting the virus, or read up on the signs or symptoms of the coronavirus, take some time to plan. The plan will serve as a road map for what actions you and your family will take if you or anyone gets sick.

• Make a plan and review with your family members 

• Gather important financial , personal, and medical information and keep in a safe place. 

• Continue to save money in your emergency fund . Keep a small amount of cash at home in a safe place 

• Discuss your Investment options with a certified financial advisor and ensure you are making an informed decision.

• Make sure you review your insurances and consider enrolling in life, health insurances and update your beneficiaries. 

Another useful tool to use to gather your documents is the Emergency Financial First Aid Kit.

𝗧𝗵𝗲 𝗘𝗺𝗲𝗿𝗴𝗲𝗻𝗰𝘆 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 First 𝗔𝗶𝗱 𝗞𝗶𝘁 (𝗘𝗙𝗙𝗔𝗞) keeps you prepared if a disaster strikes your community. The EFFAK contains the following four sections 

♦️Household Identification

♦️Financial and Legal Documentation

♦️Medical Information

♦️Household Contacts

Each section includes checklists and contact forms to help you collect and assemble your relevant documents and information

The form  is available for Free from the Federal Emergency Management Agency (FEMA) 

Download the form today and create your plan. So if you or a loved one gets sick, you do not have to worry about anything else but nursing them back to health.