Disasters and emergencies take time, money and resources away from other priorities. So why aren’t we doing more to be prepared? In collaboration with the AFCPE, the Federal Emergency Management Agency (FEMA) has compiled financial preparedness resources on the AFCPE website for financial professionals to reference and review with clients when assessing their financial wellness.
Individuals and families must have a financial plan to face emergencies big and small. Taking the time to collect and secure critical records, purchase the proper insurance coverage, assess your emergency plan, and start an emergency fund will give clients peace of mind. It will also, in the event of an emergency, ensure they can start the recovery process without delay.
Every situation is unique, but there are some general preparedness actions that all households should take to prepare for unexpected challenges.
- Financial Preparedness: Make a plan. The Ready Campaign, a national public service initiative, compiles helpful financial preparedness resources including the Financial Emergency Fact Sheet and Emergency Financial First Aid Kit (EFFAK), a product developed in parentship with AFCPE partner Operation Hope, to help clients get started with planning today.
- Financial Recovery: When disaster strikes it can be hard to know how to move forward. The Consumer Financial Protection Bureau (CFPB) provides great resources to review with your clients when preparing for, recovering from, or rebuilding after a disaster. The Your Emergency Checklist is used to help consumers gather the financial information they would need after and emergency.
- Flood Insurance: Floods are the most common natural disaster in the United States and homeowners and renters insurance policies do not typically cover flood damage. The National Flood Insurance Program (NFIP) is here to ensure your clients are protected before, during, and after the storm.
- Rainy Day Fund: Saving is key. People who make a habit of saving regularly, even small amounts, are well on their way to success. Use gov’s tips and hints to help your clients plan for life events and to be ready for emergency needs.
FEMA and AFCPE are working together to help Americans build a culture of preparedness which includes being financially prepared for emergencies.
Visit the AFCPE Resource Page for additional tools and educational resources compiled for your use.