Well, we’ve pretty much been glued to the TV watching for any sign of what our parent’s house looks like outside the french quarter. So far we haven’t seen their street but we are hoping that it’s not completely under water. If it isn’t under water, and wasn’t damaged too bad from the hurricane itself, there is always the real possibility that it’s been completely looted. The worst part is that we won’t know for WEEKS, if not MONTHS. Anyone that has seen the house would have been looking to be rescued so there isn’t much hope they’d be posting status on the internet.
I’m doing my best to tie this in to personal finance. You know what? It’s relevant. My inlaws are lucky enough to have a good job to count on and some savings. While they aren’t Donald Trump, they also aren’t living in poverty like so many of the people suffering in Louisiana, Mississippi, and Alabama. We are just thankful that they had the resources and intelligence to get out before the hurricane. They are living off of their emergency fund now. I can think of no better reason for having an emergency fund than to support yourself while you can’t access your house (for weeks or months), not know when you can go back to work, and not know what your house will look like when you finally do get to see it.
So, if you take anything away from this chapter in our history, at least give it a moments thought how you would handle this. Would you have any financial resources to get by? Would you have to resort to sleeping in a shelter? What would your quality of life be? Would you really want to count on a credit card company to get you by? What if they decide you are too big of a risk based on the current situation? Wouldn’t it give you more piece of mind if you could use your own money? I know it would give me more piece of mind. If you aren’t addressing your financial state, maybe this is a good time to consider making some changes to protect yourself and your family in an emergency like this.
Enjoy Our Content?
Subscribe to get the latest from "Everybody Loves Your Money."