In our household, I manage most of the bills, financial accounts, and more. I know I’m not alone either – in most families, one person usually handles all of these things.
I’ve been in charge of our important information for years, mainly because it’s just something I know I can do and we’ve fallen into a routine now after doing this for so long.
Recently though, we realized that this could turn into a financial emergency disaster. I manage everything just from my memory, so nothing is actually written down and most of our bills are either auto-pay or paperless, so there is no paper record in our house of anything either.
This could be a financial emergency disaster because if something were to happen to me, I honestly do not know what Wes would do. It would make everything much more difficult for him when he would already be having a hard time, and that is not something anyone wants to deal with. Having some sort of financial emergency response plan is something we need to create.
While to some this situation may be no big deal, I know there are many, many families out there who would be very lost if something were to happen to the person who usually manages their financial situation. Accounts could get lost, bills may be forgotten about, and more.
It’s best to keep a financial emergency response plan of everything just in case something were to happen, even if it’s something no one ever wants to think about. Having one just makes life so much easier.
Below are three easy steps to creating a financial emergency response plan for your family. [Read more…]