Saving for a Rainy Day
A solid emergency fund is perhaps one of the most important tools in developing and sustaining financial security. It is recommended to save six months of living expenses because no matter how well things are going, or well you plan, bad things will happen from time to time.
Well, it can be a hard sell. Spare cash can be hard to come by, and, after all, taking a vacation is a lot more fun. It sounds simple, but survey data reveals it’s anything but that for many Americans. According to a 2011 survey by the National Foundation for Credit Counseling, 64% of Americans don’t have enough cash on hand to handle a $1,000 emergency. If you are one of those who don’t have an emergency savings, learn why you should.
Six Reasons Why You Should Have an Emergency Fund
- You lost your job.
- You can’t shake that cough.
- The only job you can get is three states away.
- Your car makes a funny grinding noise.
- Someone close to you passes away.
- Your roof starts leaking.

Planning for the Unexpected
Disasters don’t plan ahead, but you can! Make a plan for yourself, family and friends.
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Get Informed!
- Know what disasters could affect your area, which could call for an evacuation and when to shelter in place.
- Keep a NOAA Weather Radio (opens new window) tuned to your local emergency station and monitor TV, radio, and follow mobile alert and mobile warnings about severe weather in your area.
- Download the FEMA app (opens new window), receive weather alerts from the National Weather Service for up to five different locations anywhere in the United States.
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Preparing for an Emergency. Are you Ready?
Prepare yourself and your family for a disaster by making an emergency plan. Download the Family Emergency Plan (opens new window)(FEP) (PDF - 750Kb), print the pages, and fill them in offline.
Your emergency planning should also address the care of pets (opens new window), aiding family members with access and functional needs (opens new window) and safely shutting off utilities(opens new window).
Once you’ve collected this important information, gather your family members and discuss the information to put in the plan. Practice your plan at least twice a year and update it according to any issues that arise.
For more information, visit www.ready.gov (opens new window).
Also visit, DisasterAssistance.gov (opens new window) to learn how to handle immediate needs (opens new window), such as how to:
- Evacuate or shelter in place.
- Find emergency shelter.
- Get food and water.
- Handle emergency medical situations until help arrives.
- Find family, friends, and even lost pets.
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Tips to Prepare for an Emergency
- Store at least 3-6 months of net income for the sake of “just in case.”
- The less stable and uncertain your income, especially if you are self-employed, the more you should have in your emergency fund.
- Have an emergency plan. Write it down and keep it someplace that is easily accessible
- Get Tech Ready - Use your cell phone’s text messaging capability to receive text message updates from FEMA (standard message and data rates apply).
Here are basic commands to get started:
• To sign-up to receive monthly preparedness tips: text PREPARE to 43362 (4FEMA)
• To unsubscribe (at any time): text STOP to 43362 (4FEMA) - Download the FEMA App (opens new window) to access disaster preparedness tips, build your personal emergency kit, and look for open Disaster Recovery Centers along with open shelters (if you're a disaster survivor). Also, stay informed with the FEMA blog (opens new window).
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For Kids and Families
Ready.gov/kids - Preparing for emergencies shouldn't fall on your shoulders alone. Young children and teens alike need to be part of the process — for their own safety and sense of empowerment.
- Work together to build an emergency kit.
- Sit down as a family to talk about your communications plan.
- Role-play what you would do during a disaster.
- Have fire drills in your house.
Sesame Workshop (opens new window), along with its project partners has created Let’s Get Ready! Planning Together for Emergencies with tips, activities, and other easy tools to help the whole family prepare for emergencies – together!
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Pet and Animal Preparedness
Make a Plan
Remember, during a disaster what is good for you is good for your pet (opens new window), so get them ready today. If you leave your pets behind, they may be lost, injured – or worse. Never leave a pet chained outdoors.FEMA Blog: 10 Items You Will Need for Your Pets Hurricane Emergency Kit (opens new window)
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Disaster Recovery Assistance
Are you a Disaster Survivor?
Disaster Assistance is often available from your credit union or bank (opens new window). You may also qualify for federal assistance (opens new window).The Disaster Assistance Improvement Program’s (DAIP)
The DAIP’s mission is to provide disaster survivors with information, support, services and a means to access and apply for disaster assistance through joint data-sharing efforts between federal, tribal, state, local and private sector partners.Apply for Assistance
DisasterAssistance.gov (opens new window) allows you to:- Find (opens new window) disaster assistance that meets your personal needs.
- Learn about more than 70 forms of assistance from 17 federal agencies (opens new window).
- Apply (opens new window) for disaster assistance online.
- Check (opens new window) the status of your application.
- Find a FEMA Disaster Recovery Center (opens new window) (DRC) near you.
- Find a hotel (opens new window) or get help with housing (opens new window).
- Find programs to help with food and nutrition (opens new window) needs.
- Change the address for your Social Security (opens new window), VA (opens new window), or other federal benefits (opens new window).
- Learn about Small Business Administration (SBA) loans (opens new window) for homeowners, renters, and businesses.
The site can also provides resources to help you learn how to prepare for, respond to, and recover from disasters.
You can even read the latest disaster news feeds (opens new window), find other recovery help (opens new window), and learn how to move forward (opens new window).
Disaster Assistance by Phone
- Call 800.621.3362
- TTY 800.462.7585
Helpful Information on Applying (opens new window)
State Disaster Pages (opens new window)
Disaster Recovery Tips (opens new window)Preparing, Recovering, and Rebuilding After Disasters and Emergencies (opens new window) (CFPB)
A guide to handling your finances if you are preparing for, recovering from or rebuilding after a hurricane, tornado, earthquake or other disaster. This guide focuses on your finances. If you need information on your physical safety before, during, and after an emergency, visit the Federal Emergency Management Agency’s (FEMA) ready.gov (opens new window) site. -
FEMA and Flood Insurance Resources
FEMA has information (opens new window) about disasters and resources for federal disaster declarations (opens new window). The agency also provides helpful information (opens new window) for flood insurance policy holders.
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BEWARE: Frauds and Scams after a Disaster
Consumers are often targets of scams after a disaster. Knowledge is power when it comes to fraud prevention. Learn about the most common types of scams and how to protect your finances with information from the NCUA Fraud Prevention Center.
Disaster Fraud Hotline (U.S. Department of Justice)
866.720.5721