HOW HURRICANE SANDY PREPARATION TEACHES MONEY SMARTS
My elderly relatives in New Jersey are facing their second week without power and looking at 10 more days without electricity. We told them to get lots of food, batteries, and prepare for the storm in advance. Their response, “Our town doesn’t lose power.”
We are searching online for a propane or battery powered indoor heater. But then, the problem will be getting it shipped to them in a timely manner. Of course, all of the local hotels and motels are completely booked. And, even if we could find a place for them, it’s unlikely they would go.
I love my great aunt and uncle dearly, but their attitude of “Que Sera, Que Sera” (what will be will be) is not a long term successful solution.
PLANNING AND PREPARATION LEADS TO PERSONAL AND MONETARY WEALTH BUILDING
Life is uncertain. Disasters happen both personally and globally. Of course, that’s what insurance is for. And the reason to start saving early is so that in retirement you have a nest egg to get you through. Some folks are wired to think more about the present and less about the future. It’s great to have that slab of chocolate cake now and not worry if it will make you fat or contribute to hypertension or diabetes. But just because you avoid thinking about the future, doesn’t mean you won’t have the consequences of your behaviors.
If you are not a planner by nature, look at he folks without food, batteries and power in the eastern part of the USA and think about getting some water and canned goods for emergency supplies.
Hurricane Sandy gave us the kick in the pants to stock up on lots of gallons of water (one per person per day), and canned goods. In our neck of the woods, an earthquake is more likely than a hurricane and there’s no warning! We committed to adding to our emergency supplies with each weeks shopping.
If you have no emergency fund or retirement savings, consider opening up a retirement account; a ROTH IRA or workplace 401(K) today and funnel a few bucks in every month. Don’t worry about starting with a small amount, even $50 or $100 per month gets you into the savings habit. You can increase the contribution in the future.
Wealth, Preparation, and Money Tips from the Web
- Don’t Let Your Bank Pick Your Homeowners Insurance for You at Wisebread
- Excellence is a Habit at Krantcents
- Want to Earn More? Trade Money for Time at The Free Financial Advisor
- Hurricane Preparedness Guide at Fat Guy Skinny Wallet
- Time is More Valuable Than Money at Squirrelers
- Our New $237/month Health Insurance Plan at Mr. Money Mustache
- I Used to be in Debt at Young Adult Finances
- How You Can Adapt Google’s 20% Time Rule to Build Your Business at My Wife Quit Her Job
- Why Layaway is Bad for Your Family’s Finances at Money Q and A
- The 7 Most Popular Ways to Commit Financial Suicide at Len Penzo.com
- What Sandy and 60 Hours of No Power Taught Me at 20s Finances
How prepared are you for the unexpected?