National Financial Capability Month
Financial Literacy Month in Pennsylvania is a great time to review your finances and prepare for emergencies. With recent natural disasters, it's important to be financially prepared.
Here's how you can do a financial checkup:
- Check Your Credit Report: Check your credit report every year to ensure everything is correct. You can get a free report at AnnualCreditReport.com. This is important for getting new credit if you need it.
- Know Your Insurance History: Get your insurance history for your belongings and cars. This helps you know if you're covered properly in case of disasters.
- Verify Your Job History: Check that your job history is accurate. This can be helpful when you're looking for a place to live, a job, or applying for credit.
- Check Your Bank Status: Make sure your bank accounts are in good standing. Keep some cash on hand for emergencies since power outages can happen during disasters.
- Keep Important Contacts: Save the numbers for your bank and financial advisors on your phone. Have a paper copy, too, in case your phone dies.
For more help with your finances, visit here.
Be Prepared: Financial experts suggest saving 3-6 months' worth of living expenses. Even if you start small, like putting away $5 a week, it can help. Use direct deposit to save money without noticing.
If there's a disaster, having some savings can ease your worries. Save money for travel, hotels, food, and other needs. Also, having a credit card with available credit can be useful.
If you own a home, make sure you have enough insurance coverage. Know how much your home and belongings are worth. Do a yearly check with your insurance agent.
By taking these steps, you can be better prepared for emergencies and feel more secure about your finances.
