Unexpected situations often leave us scrambling for documents and information. The best way to prepare yourself to handle unforeseen situations is to prepare in advance, when things are calm and you have time to think.
If a financial emergency strikes, you’ll be glad you took the time to put an emergency financial plan in place. Your emergency financial plan should include the following considerations:
In the case of a medical emergency, other people may need to access your personal information in order to deal with the situation. To accommodate this, take the time to complete the emergency checklist and make sure trusted individuals such as family, friends and neighbours know where to find it. One list should be completed for each family member:
Physician names, addresses and phone numbers
Medication, including dosage
Brief family medical history
Insurance ID numbers, contact information and coverage terms
If something were to delay you in your daily routine, such as a late-running meeting or traffic, who would pick up your child from daycare? Is there a neighbour’s house where an older child could go until you arrive home? How would your family get in touch with your children’s teachers, if they had to do so?
Be prepared for personal emergencies by having the following list readily available, with copies at the homes of trusted friends and family members:
school name/daycare, address and phone number for each child
for daycare-aged children, a list of authorized adults, including phone numbers, who may pick up your child if you are not available
each child’s teacher’s full name
helpful neighbour’s names, addresses and phone numbers (including cell phones)
Embrace the three P’s
Look at your situation today
Expect the unexpected
Insure your family’s future
Debt be gone
Pay yourself first
Creating a retirement strategy
The information on these sheets is only useful if it is up-todate. Set aside one day a year to review and update these lists, or update them whenever important information changes.
Other topics in this section: Financial Primer
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