How to Prepare Your Family For a Financial Emergency

How to Prepare Your Family For a Financial Emergency? To prepare yourself for financial trouble, you need to have at least 3-6 months’ worth of expenses saved up.

How to Prepare Your Family For a Financial Emergency

When I say expenses, I mean your bare expenses. Take all of the luxuries out of your bills and you’ll know exactly how much money you need to survive each month.

How to Prepare Your Family For a Financial Emergency

How much do you have in the bank right now? No wait, don’t tell me. Instead, just look for yourself. Then ask yourself one question:

“What would happen to my family if all of my income sources went away?”

Do you have an answer? Is it a bad one? Is it a good one? Would your family be able to survive only on what’s in your bank accounts right now?

If you’re like most people, the answer is, unfortunately, “probably not.”

Why you need to save money

Preparing your family for a financial crisis is honestly the single most important prep that you can do. You can prep all you want for weather-related incidents, but in truth, if the weather is bad enough, all of your preps might not make a difference.

Failing to prep for a financial crisis though can literally tear your family apart at the seams though. Loss of income can cause loss of your home, kids going hungry, marital fights, and more.

So how do you protect yourself?

You save. It really is that simple.

What are your expenses?

Your basics are household costs, food, utilities, and any school costs that your kids have. Everything else should be considered a luxury and if you’re living with no income coming in, unable to be paid for.

These are the items that you pay extra to have in your life so if you don’t have extra money coming in, then doesn’t it make sense that you can’t have extra items in your budget?

Three to six months is the absolute minimum that you should have, but if you want to be really prudent about it, save a year’s worth of expenses. Loss of a job can sometimes be a very long situation and if you have a year of expenses in the bank, you’ll know 100% sure that you’re covered.

Building an emergency fund is critical for financial security and, more importantly, peace of mind. Many Americans admit to being kept up at night, losing focus at work, and even struggling with anxiety because of financial stressors at home. If you’re one of them, I hope I can help you find peace in building your emergency fund – even if you don’t have loads of extra money just sitting around.

Prepare Your Family For a Financial Emergency: Evaluate where you’re at.

3 Steps to Build Your Emergency Fund FAST

In the financial world, everyone talks about getting out of debt, buying a house, and building an emergency fund. Whether your emergency fund is a “baby” fund at $1,000 (the bare minimum), or looks more like $10,000, evaluating where you’re at and setting goals will help you achieve them much faster.

Prepare Your Family For a Financial Emergency: Evaluate where you’re at.

You can’t move forward unless you know where the starting line is. The baseline is where you’re at right now, with everything else being UP from here. Start with an evaluation, and be honest with yourself. If you’re spending way too much money on fast food or makeup, don’t beat yourself up over it – just fix it.

To do a thorough evaluation, check your bank account, Paypal, Cash App, etc. This includes prepaid debit cards or any other accounts you may stash and spend money from.

How’s your money situation? Is your income higher than your expenses? How much extra do you have each week, or each month? Write all these numbers down, as they’re equally important in figuring out where you’re at, and fixing the leaks. We’ll talk about that in a moment.

I like to print off my bank statements and go through everything line by line to see where my money is going. You can print 1, 3, 6, or even 12 months off at a time. It all depends on how in-depth you want this financial audit to be.

Check out these great books to read on how to change your financial situation:

The Simple Path to Wealth and Total Money Makeover by Dave Ramsey. They are both worth looking into.

Dave Ramsey’s Total Money Makeover Live! – 7 Baby Steps – this is a great video to watch!

Prepare Your Family For a Financial Emergency: Fix the leaks.

After I’ve printed off my bank statements, I go through and highlight necessary expenses in one color, and unnecessary expenses in another color. This is an easy way to see what’s going on at a glance. I like to call unnecessary expenses “leaks”. If you want your boat in tip-top shape, you must repair all the leaks!

How often did you purchase fast food? How expensive was your last date night? How many last-minute grocery trips did you take because you didn’t have a meal plan? How many times did you buy a soda or snacks from the gas station? How many coffee runs did you make?

Everyone has their own budget leaks, so take some time to sit down and figure out what yours are. While going through your bank statements, the leaks will usually become clear pretty quickly! Many of us have expenses each week, or even every few days, that we don’t consciously take into account when evaluating our financial situation. These are the most dangerous leaks, because we don’t even realize we have them!

Fixing the leaks is a must, no matter how much money you make – or how tiny the leaks may seem at first. If you add up all the “little” leaks over a 6 or 12 month period, you’re going to notice your boat is sinking much faster than you may have realized. Either way, the leaks need to be patched, right? Small or large, they’ll still cause problems.

You don’t have to go from 100 all the way down to 0 overnight. What I mean is, if you’re used to a coffee run every morning, you don’t have to quit cold turkey. Buy coffee to make at home and see how close you can get it to what you’re used to. Then, start cutting back.

You may realize you like the coffee you make at home even more than the stuff you get at the coffee shop. I know when I cut back on coffee runs, I loved that I could make it at home and choose my favorite brand of syrups. Plus, plant milk is an additional $.60 when I get it added to my coffee at Starbucks. At home, I can have a gallon of it and it’ll last forever! 🙂

Next, we will talk a little about adding income to your budget. Even if you make a large salary, you’ll need to fix the leaks to find extra money to build that emergency fund.

Prepare Your Family For a Financial Emergency: Fix the leaks.

Prepare Your Family For a Financial Emergency: Make more money.

Building an emergency fund comes down to a simple principle: more money in, less money out. If your income isn’t already covering your bills with some left over to add to your emergency fund, changes need to be made. The good news is, these changes aren’t painful. The bad news? You’re not going to build your emergency fund overnight.

There are hundreds of ways to make extra money to build your emergency fund faster. Whether you start a blog as a semi-passive long-term income stream, or you deliver for UberEats after your 9 to 5 job, the amount of extra income you can earn from a side hustle is endless.

Even if you can cut expenses, most likely you’ll still need more income. YouTube is a wealth of information, complete with full videos (all for free!) about how people just like you and me became millionaires because of their side hustles. While the millionaire life isn’t everyone’s goal, you can easily make an extra thousand dollars a month (or more!) with side hustles.

The next steps…

No matter how intense you are with fixing your financial leaks or making more money with a side hustle, your journey is your own and you shouldn’t feel bad about any setbacks.

Life happens, things get in the way, and paying off debt can be painstakingly slow. However, you’re on the right path and you CAN do this! Keep reminding yourself of that! Negative self-talk can set you back even more, so keep it positive.

As I said at the very beginning of this post, not preparing your family for financial stress and trouble is just asking for trouble. If you don’t feel as if you can save even 3 months’ expenses, that’s fine. Just try to do something. A little bit in the bank is better than nothing in the bank.

 Leave me a comment and let me know what your emergency fund plan is! I’d love to hear it.

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10 Awesome Websites Preppers Love

Ask any prepper and they’ll tell you that one of the best ways to prepare for any emergency is to continue learning. Learning new skills isn’t always easy, especially if you don’t have a farm out in the middle of nowhere.

Computer hardware and peripheral  Using CD or DVD as digital data storage  for office work.

The best way to learn (at least the educational side of things) is to visit different websites or forums and talk with people who already know how to do what you’re trying to learn. These 10 awesome websites preppers love are perfect just for that purpose.

10 Awesome Websites Preppers Love to Visit

Just check out this list of fun ideas. Keep in mind that you can often find great Facebook Groups too – just make sure you remember the golden rule about prepping: don’t tell people what you have!

It is as easy as looking at the story of the Ant and the Grasshopper.

While you might think it would encourage them to start their own prepping, it usually doesn’t. However, they do remember that YOU have stocked up on all the important things and will probably come knocking on your door when the SHTF.

Depending on how desperate they may or may not be, you might have serious trouble on your hands.

It is safe to socialize online with like-minded people, just stick to ambiguous information about your name and actual location.

Now, let’s get to those fun sites!

Zombie Squad

Don’t let the name fool you, Zombie Squad is a legitimate prepping forum and a legitimate 501c3 charity. With posts dating back to 2008, there isn’t much that you can’t learn here.

Occasionally the site is down for updates – that happens a lot with pages that include a forum.

The Survival Mom

The Survival Mom blog has been around for years and Lisa, the owner, gives you practical tips and tricks for how to prepare your family for whatever may come.

Besides her blog, she actually has a few food storage courses.

Food Storage Made Easy

Looking for tips on how to prepare, store and maintain your food storage? This site has it all!

They are pretty big with Thrive products, if that makes a difference to you or not.

I like their recipe page.

Survival Boards

A lot like the first site I mentioned, Survival Boards is chock full of awesome info!

Warning – they do tend to get a bit political. TONS of posts about the Chauvin trial right now.

Other than that, there are a lot of current events that affect us all mentioned that rarely see time on the nightly news.

The Prepper Project

The Prepper Project is great for new preppers. They offer page after page of great info!

There are a lot of product reviews on there that make for a great insight to what a newbie needs to look for.

Homesteading Today

Looking for a tamer forum to learn from? Check this one out!

This is really more of a message board but they are very helpful to newbies and it is pretty easy to search out info threads on what you want answers for.

Youtube

It might sound silly, but Youtube is FULL of fantastic videos on prepping. You can find everything from food storage to security demos just with a quick search!

I often find one or two that match what I am writing about and add to the articles so you don’t have to hunt them down yourself!

Survivalist Blog

Survivalist Blog is another that helps you learn new skills and get fantastic ideas. I especially like their post on how to prepare a family of 4 easily!

They talk not only about prepping but about homesteading too – along with a frugal take on DIY options for most things.

SHTF Plan

This one isn’t a site that you will learn a lot from, but preppers do read it for the alternate news. Take it with a grain of salt and make your own (and informed) decisions about what is posted.

I will say that they are Trump lovers – hardcore.

Personally? I like to keep my politics out of my site so you can focus on what is really important: information on how to take care of yourself and your family.

Survival Blog

Not to be confused with the other one, Survival Blog is one of the oldest running prepping blogs period. It is so full of great info that I would never be able to even touch listing it.

While these sites aren’t the end all be all, they are some of the best out there for prepping. Take the info they provide and educate yourself with new skills and ideas.

Other articles you may find helpful:

Why your family should have a stockpile

Do you have a stockpile? You’d be surprised at the number of families that don’t. It has been estimated that the average family has only a 3 day supply of food and water in their home. It doesn’t take a rocket scientist to realize that if a big emergency happened, that those families would be in trouble.

canned bottles with picked cucumbers and tomatoes on shelves

It might sound crazy, but in reality, you should keep at least 6 months on hand. Why? Let’s look at why your family should have a stockpile. I’m positive that by the end of this post, you’ll see that you do in fact need one and hopefully will start building yours!

Why Your Family Needs a Stockpile –

How long have you been with your employer? A few years? A few weeks? Great! Now tell me when the last time they downsized was? A few years? Yesterday? Jobs today, especially blue-collar jobs, are not as secure as they once were.

In the event of job loss

What would happen to your family if you lost your job and only had a 3 day supply of food? Before too long you’d have a very hungry family. Sure you could go get assistance, but even on assistance, a lot of families aren’t able to feed their families because the amount of help they receive isn’t enough.

In the event of bad weather

How about this scenario? Do you live in a weather-prone area? I mean things like winter storms, hurricanes, or flooding? What would happen to your family if you were trapped in your home for days on end due to bad weather?

Would you go hungry? Would the baby have enough diapers? Would the puppy be eating table scraps (provided there were any left).

It is for your own protection

It might sound a bit crazy to you, but having a stockpile of food and other items your family uses daily on hand will protect you from those emergencies. Not only that? It can actually save you BIG bucks!

You will save money

Who doesn’t love to save money? By buying items when they’re on sale and stocking up on them for later, you don’t have to buy them when they’re off sale. This means you won’t be paying the regular price for things and by default will save money.

What do you need?

This is just a rough list to get you to understand what we are talking about stocking upon. When you buy these items on sale, and tuck them away? You are saving money big time. We saw price gouging during the early days of the COVID-19 epidemic and the prices charged for some of the following items were horrendous.

Baking Supplies ~ Canned Foods ~ Dry Goods ~ Drinks ~ Misc. ~ Refrigerator Items ~ Kitchen items to have on hand ~ Baby Items ~ Pet Supplies ~  Bathroom Items ~ Medicine Cabinet ~ Gardening Supplies ~ Entertainment ~ and more!

I have a FREE Printable list for you here:

Just Do It

No matter what your reasons for doing it, you need to actually do it. Your family will be better off in the long run, you’ll be prepared for any big emergency that comes up and your bank account will thank you.

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How To Keep Your Stockpile From Expiring

While stockpiling certainly has its ups, it has its downsides too. One of those downsides is when things expire before you can use them. It’s a HUGE waste when that happens and if you’ve worked really hard to build your stock up?

keep-stockpile-from-expiring

It can make you want to just sit down and cry. So how do you keep it from happening? Check out these tips for how to keep your stockpile from expiring.

How to Keep Your Stockpile from Expiring

Decide how long you want to stock for

The first thing you should do is decide how long you want your stockpile to last. We’re all stocking up for different reasons, but most of us expect to be able to fall back on those goodies if we need them. Putting time on it will help you decide how much you’ll need to buy to make it stretch for however long.

If you’re unsure, start with one month and take a second look after you’ve built one for that month. Most people stock for 6 months or 1 year.

It helps to keep sites like Still Tasty bookmarked to make sure what you are stocking is fresh enough to keep your needs met. Just because they found pasta and rice in the Egyptian pyramids that we could still eat safely today doesn’t mean we need to stock that much in our own homes.

Everything in Moderation

Yes, I know you’re stocking up, but keep limits in mind. If you buy too much of one item, more than your family can reasonably use, it will most likely go to waste. Purchase each item with a set number in mind and stick to it.

To be sure that you’ve got the right numbers, watch what your family uses on a daily basis. Then, as you start to have to buy things at the grocery store, write that item down. Eventually, you’ll start to see a pattern as to what is being used and how often you’re using it. This list will help you determine how much you should stockpile.

Here is a great video on food storage for beginners:

Rotation is key

One of the most important things that you can do to keep your stockpile from expiring is to rotate. Essentially, newer purchases go in the back, older in the front. This keeps your stock constantly rotated as you use it meaning that very little will expire before you can use it (as long as you don’t have too much).

To make rotation easier on yourself, mark each item with a sharpie and the date you bought it and consider getting can rotation racks for your canned items.

Or, you could do what I do – and pick up a few of these FIFO (First in – First Out) can rotation racks. That helps make good use of your shelves while you always eat the oldest items up first.

The FIFO first in first out Can Tracker system guarantees you’ll never have to deal with can expiration dates again by rotating your food from oldest to newest. Its easy-fit design also lets you store a variety of can sizes, from small tomato sauce cans to larger vegetable cans.

The Can Tracker can hold up to 54 soup-size cans or 45 regular-size cans. The Can Tracker has two can rotation levels. When the top row has finished rotating, the middle track will begin to rotate through. This is great if you are looking to add an organizer to your pantry or cabinet for organizing soup or vegetable cans.

This can tracker holds up to 54 cans and rotates them for you!
This baby holds up to 54 cans – I put what we use most in them like corn, green beans, black beans, condensed tomato soup, and canned pasta like ravioli!

Eat what you store, store what you eat

If your family doesn’t like beans? Don’t stock them. Why? Because they’ll expire before they get used. If your husband refuses to use a certain brand of shampoo, don’t buy it. While soap doesn’t expire, it’s still going to be a waste of money if you don’t use it.

Buying something that won’t get used, whether it’s food, baby items, pet care, or personal care is just plain silly. Unless you’re buying specifically to donate, buy only what you’ll use and you won’t have a bunch of things that you don’t like going bad in the pantry.

I know there is a learning curve for this – you will start to figure out how much of each item is really a fit for your family.

Keeping your stockpile from expiring isn’t a hard thing to tackle, but you do have to stay on top of it. If you only stash things in the closet and walk away, you’re likely to come back to expired foods and more.

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10 Of The Best Power Outage Boredom Busters

Power Outage Boredom Busters? Power outages can be a bad thing in more than one way. Aside from the obvious, they can be a huge issue for parents. Bored and scared kids will often act out to get their point across and when it’s dark?

power outage boredome busters

 That can be extremely dangerous. That’s why I love these 10 power outage boredom busters! They’re great for keeping both kids and adults entertained when the lights go out and the storm is raging on!

10 Power Outage Boredom Busters

Spotlight

Spotlight is played with a group of people in large, dark environments. One (or more in a large group) player is designated as the ‘seeker’. The seeker is given a torch/flash-light and loudly counts a number of seconds (thirty is a good number). During that count, the rest of the players must run and hide.

The catch? The person who is “it” can only “tag” people with their flashlight beam.

Some people might call this flashlight tag.

Shadow puppets

I know it may seem “lame” to some, but shadow puppets are actually a fun way to make it through a power outage. This old-fashioned pastime seems to have fallen by the wayside but it will help keep everyone entertained.

Check out this video so you will daze and amaze them with your mad skills:

Have a treasure hunt

Hide something (or a few things) in the house and set the kids off with flashlights to find it! First-person to find the item (or items) wins a small prize!

Go camping!

Set up a tent in the living room and have an indoor camping trip! We found this great post to help you plan it: Indoor Camping Ideas for Entertaining the Kids.

From how to pitch that tent or teepee, to games to play, down to food to serve, they have 20 fantastic ideas to pour over!

Power Outage Boredom Busters: Start a band

Grab a few pots and pans and spatulas and make “beautiful” music. Be sure to sing loud!

OK – that might get old quick, but we found this great video that shows how to make four different “instruments” for your band – that alone will keep them busy for a bit – and then they have to practice before their performance!

Play cards

Having an outage during daylight hours? Teach your kids to play cards! Play Go Fish or War for younger kids or 500 Rummy or Blackjack for older ones. They’ll work on their math skill AND have fun!

Actually, pretty much any board game will do – but a deck of cards can go a long way! Bicycle Cards has a lot of great games for kids to play on their site right here. 

Just watch out for “slap jack” – that gets a little rough, LOL.

My Favorite of the Power Outage Boredom Busters: Tell Scary Stories

Obviously, you’ll want to make sure they’re age-appropriate, but scary stories in the dark are a fantastic way to pass the time. Here are some tips:

Get a story.

Have an idea on hand about what you are going to talk about – pulling it off of the top of you head is challenging. I like to talk about Kate Blood. Doesn’t the name alone sound like a great story is coming?

Make it real.

Or at least make it SEEM real – by weaving in elements that make it seriously plausable.

Use suspense, not gore.

People’s imaginations can conjure up scarier things than we can probably describe to them. It’s the unknown that often makes our imagination run wild. This is where you bring in the drip – drip – drip of the blood off the knife or the tick – tick – tick of the clock before it shimes midnight.

Don’t just tell it; act it out.

The best story tellers really get into it themselves – they seem almost animated. Use your body to help tell your story.

Rehearse.

Practice makes perfect – if you have a “story up your sleeve” that is ready to share? You don’t have to memorize it for verbatim, but the general bullet points of flow will help make you a smash hit!

Start with a warning.

All good movies have disclaimers or ratings. Tell them right off the bat that maybe you shouldn’t be sharing this with them…

Use sound effects.

This is another great way to help sell your story – it adds layers of dimension to the entire experience.

Is there a sequel?

I think the best stories are the ones that don’t truely end – there is always that posiblilty that it could happen again, or is still happening. Is that grave really empty? What happened?

Don’t wrap it all up so there is aperfectly happy ending.

I hope that gives you a few fun tips on how to really rock that story – they will be begging you for another one!

Go on a ghost hunt

Things going bump in the dark? Grab your flashlights and go hunting for ghosts!

Power Outage Boredom Busters: Put on a show

Get out the dress clothes or play clothes and act out your favorite tv show or movie for the rest of the family. Remember to use flashlights and LED candles as spotlights!

This can be a hoot – before you know it, everyone is either cracking up or stunned as they realize that there might be an Oscar worthy actor in the family!

Tell a round-robin story

Have everyone sit around the room. One person starts the story with “Once upon a time” then passes to the next person. Each person adds 1 or 2 sentences to the story. You’d be surprised at how silly these can get!

Power outages don’t have to be boring and scary. If you get a little creative with them, they can also be fun! For moms and dads, they are also the perfect time to get things done around the house that you may have been putting off. I know that’s what I do with my time during them!

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10 Ways To Prep For Summer Storms

It seems strange to be talking about how to prep for summer storms when it is currently the middle of winter. (sigh) But that is what preppers do – plan ahead! Summer storm season has shown up this year with a vengeance. With flooding in Texas, tornados in Oklahoma, and more, this year is shaping up to be a monster season.

A Bolt of Lightning Strikes in a Stormy Desert Night

While we can’t really help what the weather does (or really predict it past more than a few days), there are a few things we can do to protect ourselves and our families for when those strong storms come knocking. These 10 ways to prep for summer storms are just a few ideas that you may want to consider.

10 Ways to Prep for Summer Storms

Food storage

Did you know that the average American family keeps a food supply of 3 days or less in their fridge, freezer, and cabinets? If the power is knocked out at your home for longer, what would happen?

You would quickly run out of food. To prepare for that possibility, make sure you have at least a 2 week supply on hand.

Do you have to stock up on those survivalist freeze-dried MREs? No, you can find a lot of very suitable things in your local grocery store.

What kind of food? Think about ready-to-eat meals that only need to be heated up – like canned ravioli, chili, Spam, etc. Even canned condensed soups are a good bet.

Water

Back in 2008, when the State of Wisconsin flooded, there were multiple cities that lost their water supply to contamination. In an emergency, water is one of the very first items to disappear.

Instead of having to scramble to find some for your family, store it now before you need it. Ideally, you’ll want to store 1 gallon, per person, per day, and extra for each pet that you have.

Light

Power outages are no fun for anyone so be sure that you keep flashlights, a supply of batteries, candles, and matches on hand. If you’ve got small kids, you may want to consider flameless LED candles, just be sure to stock extra batteries if you’re going to use them.

Prep for Summer Storms with Batteries

Speaking of batteries? Flashlights and LED Candles aren’t the only things that take them. Make sure you have extras just in case you need them.

My big tip? Black Friday is when Menard’s has had a fantastic deal on both AA and AAA batteries – we always stock up and for literal pennies when compared to the rest of the year.

Do NOT get these at the local Dollar Store. I know it is tempting but they seriously don’t have that great a shelf life. It would really suck to need them and realize that they were dead.

Grab and Go

As little as we want to think about it, there are some situations where it’s best to not stay in your home. Flooding, fire from a lightning strike, roof leaks, and more. To prepare for this, be sure you have a Bug Out Bag for each family member that is packed and ready.

Gasoline

Keeping a few extra gallons of gas on hand serves two purposes. One, if you have a generator, you can use the gas to fuel it in the event that your power is out.

Two, it can also be used in your car to evacuate if needed. If you’re going to be storing it for a while, be sure to add a bottle of Stabil to it to keep it from going bad.

Emergency Radio

If the power goes out, you’ll still need to be able to keep up with the weather and any alerts. Picking up a NOAA Weather Radio will help you do that. Y

ou can find them as cheap as $13 on Amazon. Be sure you spend some time picking yours out because you can find them with a ton of different features.

This weather radio is our favorite as it a hand crank but also has a solar charge option. It is great for charging your phone too! It boasts these features:

  • NOAA weather radio with 7 NOAA channels to get the latest weather and hazard information
  • The hand crank radio flashlight cell phone charger with a 4000 mAh li-ion battery, which charges more than one smartphone in the emergency
  • 4 Ways( Micro USB charge, Solar charge; Hand crank; Replaceable li-ion battery; ) to keep the hand crank generator on power
  • The electricity label will notice you clearly the electricity of the emergency radio
  • The flashlight radio with a super-bright 3 mode flashlight for any dark places you are in
  • Motion sensor reading lamp for you to get up in the mid-night to avoid waking your family

Prep for Summer Storms with Plywood

If you live in a hurricane-prone area, you may want to consider keeping some plywood on hand to cover windows with. While it may not fully prevent damage, it will help some. You’ll also need nails or staples and a hammer to make sure you can hang the sheets.

You may also want to look at the window film that secures against breakage.

Fire safe lockbox

Having a lockbox is a must to protect your important documents like birth certificates, social security cards, and any custody papers. Having them in a fire-safe box as well is just a second precaution.

Insure me

Do you have renters or homeowners insurance? Storm damage is usually considered an “act of God” for insurance purposes which means that they will cover it. Flood insurance is not provided through an insurance company but through the federal government.

Both are typically very affordable and if by some tragedy, you would lose everything in a storm, your home and possessions are covered. On the same note, we never know what is going to happen and there have been many people killed by storms.

Make sure that you have proper life insurance as well. The last thing any of us want is to leave our family behind with no way to pay for debts or take care of themselves.

Other posts you may enjoy once you Prep For Summer Storms: