Prepare For Extreme Weather

Are you prepared for bad weather? 

According to Bankrate’s 2024 Extreme Weather Survey, one-fourth of U.S. homeowners are unprepared for potential costs associated with extreme weather events in their area. Think hurricanes, floods, tornadoes, wind, and hail damage. An emergency fund that’s accessible for immediate needs is essential. It’s basically a form of insurance for sudden setbacks that can disrupt your income. It will prevent additional stress if money’s needed to evacuate, find temporary housing, make repairs, or buy essentials.

Begin by opening an account that you absolutely will not touch unless a true emergency arises. Save $1,000 as quickly as possible in an FDIC-insured account with some liquidity. Look into a money market or high-yield savings account. Automatic deposits will keep you from spending the money. Deposit financial gifts, rewards, raises, bonuses, or tax refunds when possible. Go through bank and credit card statements to see where you can cut expenses, and divert that money toward your emergency fund until you establish a three-to-six-month cushion. If you must withdraw money, aim to replenish it ASAP. So set a goal, then challenge yourself with spending fasts. Or download Crown’s 13 Ways to Save for Your Emergency Fund.

Do you remember God’s example of the ant? They store food during the good times to be ready for the bad. The next time you see one, remember that God wants you to be prepared for any storm that comes your way, and if you think you can’t save because of credit card debt, Christian Credit Counselors can help stop late fees and further damage to your credit. For more information, visit crown.org/ccc.