Preparing for the “Big One”

Stash your cash for emergencies

Stash your cash for emergencies

Living in Utah means that not only do we have fire drills, we have earthquake drills.

In April 2012, Be Ready Utah had their first Shakeout. The 2013 Great Utah Shakeout is scheduled for 10:15 a.m. on April 17.

Although it’s just a dress rehearsal. Let’s look into our wallets and think about what our finances look like in that dress rehearsal. The process is less impulsive in a “duck and cover” kind of way and more take-time-to-stash-your- cash way.

Here are a few tips to help you prepare:

Keep Cash
Imagine every ATM cleaned out of cash, grocery stores closed (or looted!) and nothing but plastic for payment. Whatever you can tuck away for emergencies is important to have in paper form.

Know Your Numbers
Have a list of your account numbers for cards and phone numbers for your banking institutions.

Protect Your Papers
If you have important financial documents and paper money, keep it protected in a safety deposit box fire-proof safe. Between floods and heavy debris, you want to make sure these documents are intact.

Have an Emergency Fund
You should already have at least 3 months of your cost of living in savings, but if you don’t, get that ready.