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Many people in the UK have prepared themselves for an emergency; for example something as simple as a first aid kit and a fire extinguisher. Very few people, however, consider their financial readiness
Being prepared can be anything from keeping an emergency pack containing important papers to setting up a bank or savings account with an emergency fund. Getting yourself organised now could make the difference between financial security and financial disaster.
A few simple tips from can help anyone organise their finances before for any natural disaster occurs:
Prepare a Household Inventory
Make a list of items of any real value and locate the original copies of important family and financial documents. Store original documents in a waterproof bag in a safe deposit box or durable "emergency box" store photocopies of the same documents in a separate safe place. Use a Memory stick,external hard drive or CD, to back up your key documents on your computer. If possible, store copies with relatives or friends who live in a different house or better still outside of your area.
Understand  Your Insurance
Understand what types of things your home and contents insurance covers. Ask your insurance company or financial adviser about the cost of cover for floods etc, and list high value items seperately. Keep copies of your policy documents in a safe place along with your other important papers.
Have Cash Accessible
Keep a small amount of cash at home in a place where you can get to it easily in case you have to leave your home in a rush. The money should be in small notes to make lifew easier in an emergency.
Make a List of Emergency Contacts
Keep a list of important emergency contact details, including close family members, doctors, solicitors, telephone numbers for your bank, insurance broker and the companies you have policies with, and financial advisor/planner. Credit card 0800 numbers (where available) can help you quickly retrieve account information.
Keep an Emergency Savings Account
Your emergency account should be kept separate from any day to day account. You should think about building a savings pot which could see your through a longer period of time.
Open an online Bank account
If you are unfortunate enough to live in an area which is affected by disaster it may be that your bank will be unable to open or the local ATM’s are not working. By having an online account you would be able to access your account and pay essential bills/transfer money etc. If you are unable to access the internet during the difficulties you could ask a trusted third party in a different area to access your account on your behalf.
Planning for the future is something which can be done in stages. The feeling of security it provides can be extremely beneficial.

 

Many people in the UK have prepared themselves for an emergency; for example something as simple as a first aid kit and a fire extinguisher. Very few people, however, consider their financial readiness

Being prepared can be anything from keeping an emergency pack containing important papers to setting up a bank or savings account with an emergency fund. Getting yourself organised now could make the difference between financial security and financial disaster.

A few simple tips from can help anyone organise their finances before for any natural disaster occurs:

Prepare a Household Inventory

Make a list of items of any real value and locate the original copies of important family and financial documents. Store original documents in a waterproof bag in a safe deposit box or durable "emergency box" store photocopies of the same documents in a separate safe place. Use a Memory stick,external hard drive or CD, to back up your key documents on your computer. If possible, store copies with relatives or friends who live in a different house or better still outside of your area.

Understand  Your Insurance

Understand what types of things your home and contents insurance covers. Ask your insurance company or financial adviser about the cost of cover for floods etc, and list high value items seperately. Keep copies of your policy documents in a safe place along with your other important papers.

Have Cash Accessible

Keep a small amount of cash at home in a place where you can get to it easily in case you have to leave your home in a rush. The money should be in small notes to make lifew easier in an emergency.

Make a List of Emergency Contacts

Keep a list of important emergency contact details, including close family members, doctors, solicitors, telephone numbers for your bank, insurance broker and the companies you have policies with, and financial advisor/planner. Credit card 0800 numbers (where available) can help you quickly retrieve account information.

Keep an Emergency Savings Account

Your emergency account should be kept separate from any day to day account. You should think about building a savings pot which could see your through a longer period of time.

Open an online Bank account

If you are unfortunate enough to live in an area which is affected by a disaster it may be that your bank will be unable to open or the local ATM’s are not working. By having an online account you would be able to access your account and pay essential bills/transfer money etc. If you are unable to access the internet during the difficulties you could ask a trusted third party in a different area to access your account on your behalf.

Planning for the future is something which can be done in stages. The feeling of security it provides can be extremely beneficial.

 

 

IVA Watchdog

2 Landsdowne Crescent

Bournemouth

Dorset

BH1 1SA

01202 636070

 


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