Tips, advice, and the latest news from the savings world.
By Michelle Volpe-Kohler, Associate Director, FINRA Corporate Communications.
It’s easy to fall into debt—especially if you are supporting a growing family. But just because you’re in debt now doesn’t mean you have to stay in debt. You are taking the first step to dig yourself out of debt by reading this Action Plan. Whether you’re in serious trouble or just want to pay down some bills, take the steps in this Action Plan to get going.
10 July 2012
By Lila Quintiliani, AFC ®
Military Saves Assistant Coordinator
You’ve got a flashlight, batteries, a weather radio and gallons of water. So you’re all prepared for an emergency, right? Maybe not. See, you also need to be financially prepared for emergencies, or you can take a hard hit right in the wallet when disasters, natural or otherwise, strike.
Here are some things to consider when it comes to emergency financial preparedness:
- How’s your insurance coverage? If you are a homeowner, do you have adequate coverage for your possessions? Do you live in a flood-prone area, even if the area is not formally designated as such on a flood map? If so, you may need to buy a separate flood policy, because most regular homeowner’s policies do not cover damage from flooding (or earthquakes). If you live in an apartment or government housing, do you have renter’s insurance? While some government housing may come with limited renter’s coverage, it varies from installation to installation, and rarely covers the cost of even a fraction of your household goods. The best bet is to find a separate renter’s policy which can cost under $20 per month.