By Marlene Foote
What happens when the person in the household who handles the finances is no longer there or is unable to handle them on their own? If you are reading this, you are most likely the person who is in charge of the family finances. Now, imagine that you had to go away for six months and could not have any contact with your family. What would you come home to? It’s a pretty scary thought, I know!
The fact of the matter is that you cannot force someone to learn how to budget like you do. You cannot force someone to clip coupons or to track their coffee money but the one thing you can do is prepare for the unexpected. It’s a good idea to prepare for that time when you may not be available to take care of your finances for an extended period of time.
How do you do this? It’s simple. You write everything down and put it in a safe, secure location and tell your spouse or trusted family member where it is. In that document, you will write down step by step instructions regarding which bills are paid when and how to pay them. In your financial survival kit you will also include copies of disability forms if you have coverage through your work and give instructions on how to go about getting them filled out. Every financial survival kit will be unique based on your personal needs.
Financial hardship usually happens when we least expect it and it can happen to anyone. The best thing we can do is to try and think about it before it happens and to make a plan. Finances on their own can be quite overwhelming and having to deal with a stressful family situation on top of that can make it even harder.
We, at Credit Counselling Services of Atlantic Canada are here to help. We are a registered non-profit organization dedicated to helping individuals with their finances. In that time of confusion we can offer support and guidance.
Credit Counselling Services of Atlantic Canada would be an excellent number to have on hand as part of your financial survival kit. We can be reached at 1-888-753-2227 or at www.solveyourdebts.com.