How to prepare for upcoming emergencies

Emergencies such as power outages or bad weather can happen at any time and can be costly. Unplanned hotel stays, lost documents and damaged belongings are just a few of the expensive consequences. But there are ways to prepare yourself, including keeping cash, storing essential documents in a safe place, and knowing how to protect your credit even when you have to miss a payment. Preparing for the next emergency today can be one of the smartest financial moves you can make as 2023 begins, and you can make it manageable by taking small steps each week.

When a power outage knocked out a multi-state area in 2003, Detroit-area financial coach Gabriella Barthlow was on hand. She had enough money to buy food for herself and her two young children, as well as put petrol in her car in case they needed to leave the house.

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