Preparing for life’s what-ifs: the easy, bite-size list to getting your *stuff* together.
We all know we *need* to get organized but the thought of just starting can feel overwhelming. For those who prefer to begin a thousand-mile journey by putting on pants and making coffee – here’s a mini, bite-size list to better prepare for life’s ‘what-ifs’ just five minutes at a time.
1. Have an Emergency Fund
Common advice is to have 6+ months of expenses in an emergency fund. I get that’s not realistic for many, but you gotta start somewhere and today’s higher % rates on high-yield savings account (HYSA) will help your dollars add up more quickly. Shop around for the best/current rates online (for example, Bankrate, Nerdwallet, etc), they vary.
Read more tips and advice in GYST’s Monthly Newsletter
2. Find Missing Money
While it’s not technically free money since it is (or was) already yours, but about 1 in 7 adults have ‘missing money’ in the form of unclaimed property (for ex, money left in an inactive account or a never-deposited check) you can still collect. Locate your state’s unclaimed property website or search the Missing Money website for your name and if you find you’re owed some cash, follow the steps to submit your claim.
- TO-DO: Found some ‘free’ money? See above and put that money into your emergency fund or open a HYSA.
- PRO TIP: You can also set up an automatic deposit each month, whether $1 or $100, you’ve taken the first step!
Overwhelmed? Not sure where to start? Learn more about classes, workshops and private sessions
3. Double check your insurance policies
Why: Insurance policies are being cancelled or denied. Why and what can you do?
How do we protect one of the biggest assets we own to pass to the next generation when climate change has insurance companies on the run?
Read: ‘How climate change could cause a home insurance meltdown‘ from NPR
Read: ‘Who will buy my house if they can’t get insurance‘ from BBC
- TO-DO: Check in with your insurance carrier and review your current policy and coverage + search online for quotes (for example, PolicyGenius) to compare your coverage and costs.
Reminder: Last Month’s To-dos
July 2023: Designating a legacy contact is a secure way to give a family member or trusted friend access to your critical digital accounts.
1. Google Inactive Account Manager: Easy way to share your account data if you or your account activity go ‘dark’
2. Facebook: A legacy contact can make decisions about your profile
3. Apple: A legacy contact to can access the data in your Apple account after you die.