Summer is almost over. Unfortunately, so do the days when we can enjoy the dry and rainless season. With the rainy season coming anytime soon, it also means that storms, flood, and other disasters related to the season are about to follow. Despite our natural aversion to such events, most disasters are unavoidable and out of our control. However, we still have to power to prepare for these disasters, and we can do them financially. Here are the ways on how we can financially be ready this coming disaster season.
Start setting up an emergency fund
Having a backup fund is important in the case of disasters since most of them can financially cripple us for days, weeks, or even months. With this in mind, it’s high time to start building up savings you can tap in times of calamity. While most people say the ideal amount of your emergency fund should last for about half a year, you can settle for at least three months’ worth of your salary when you start to build your backup fund. Keep in mind, however, that you should replenish it as soon as possible so you can still defend yourself in case the next disaster strikes.
Prepare documentary requirements for calamity loan
A calamity loan is a type of financial product offered by several government agencies to assist people in times of emergency. With low interests and moderate loanable amount, this type of loan can definitely get you out of the pinch. To be able to process a calamity loan as soon as possible, make sure that you already have the necessary documents beforehand. You’ll never know when a calamity loan will be useful to you, so stay frosty and have those documents with you.
Reinforce parts of your home that require repairs…
Your house is your first line of defense against calamities, and the roof over your head can only defend you if it is sturdy enough to withstand the blows of natural disasters. If you want to be sure that your home can fend off waves of storms this coming wet season, start reinforcing your home and repair parts that need your attention. Check for leaks on the ceiling, install additional protection on windows, and see if there are problems with the roofing. You may shell out some cash for repairing your home, but this is worth way less than what damages you may incur during disasters.
…but hold off any home beautification projects
You may already have plans on how to make your home look reinvigorating again. After all, it might already be years or decades since you have seen your house look fresh. If you have plans on giving your humble abode its much-needed facelift, you might want to hold it off until the storm season ends. Instead, just save your home renovation money to a savings account or your very own emergency fund and see if you can still tap it after the storms have passed. After all, it is heartbreaking to see your home getting wrecked after you make it more visually appealing again.
Think of long-term solutions
Let’s face it: calamity season is will always knock on our doors every week. Unfortunately, there is nothing we can do to drive away this destructive and uninvited guest. If you don’t want to suffer every year—most especially now that storms are becoming stronger and floods more devastating—think of long-term solutions such as getting a housing loan for relocation or upgrading your home to make it flood-proof. If you plan a hundred steps ahead of your game now, you can sleep at night peacefully without the need to worry about the impending storm.
Disasters are here to stay, and there is little to nothing we can do to stop them from wreaking havoc in our country. However, we can do a lot of things from our end to make sure that the damage isn’t as massive as they have been. Once you have armed yourself financially for disasters, you can stop worrying about the future and just start keeping an eye for you and your family’s safety.