financial emergency

My “Break Glass in Case of Financial Emergency” Plan

As much as I wish I was a spur of the moment kind of gal, able to make plans at the drop of a hat, I’m not. Drop of the hat stresses me out. The phrase “we’ll figure it out” stresses me out. I like a plan, and I like following that plan.

I most especially like a plan when it comes to my money. Because I have worked really hard to get my money into shape! My bank account is crushing it’s 5 miles daily, you know what I mean? And I don’t need anything to come in and disrupt it’s gym time.

That’s why I do my monthly budgeting. That’s why I do an annual review of my money. And it’s why I finally got a plan in place in case there’s a financial emergency. So, ya girl has an accident of some type.

woman in the background with text on Financial Emergency

What Happens If The Worst Happens?

No one LIKES talking about death. I get it, and I promise this is not a bummer of a post. But it’s an inevitability. And, in my humble opinion, it’s a kindness to my loved ones to be prepared for it. Even thinking outside of death, there are a lot of reasons that you might be in a position where you can’t make decisions for yourself and your loved ones need access to your sensitive information.

Plus, being prepared for it means that *I* get to be the one who plans for it! Or, gets to plan what happens to my stuff AND my money. The planner in me loves that!

Having a plan for financial emergencies is especially important because I am not married and I do not have kids. Tbone is my long term partner but he’s not legally entitled to ANY of my assets.

So without a plan my estate will default to my immediate family. If they’re not around, the state of Texas gets my ish. As someone who doesn’t talk to one of my parents, and who is not jazzed on the decisions that the state of Texas often makes, this is not ideal for me. To make sure my assets go where I want them to go I need to have it written out.

In Case of Financial Emergency: The Emergency Preparedness Binder

Enter the Emergency Preparedness Binder – created by a Mom, Chelsea Brennan. Also, I think of this binder as Tbone’s first stop for any emergency where I am rendered unable to talk.

The binder has 16 sections that cover all the things you’d need to figure out if someone you loved and shared a life with (a romantic partner, a parent, a sibling) fell seriously ill or passed away.

There’s a section called “Insurance Information” where you can put all manner of insurance; health, home, auto. If you’re unable to make decisions for yourself, or unable to share where your boo can find your healthcare card, this section will do the legwork for you.

There’s a section for pet care, for where to find valuables and important documents, for information on any rental properties you own or manage, for any information you’d like people to know about your memorial plans.

The binder is like a pre-will. Is it a legal document I’d barge into court with and throw into my opponents face, daring them to come at me? No. But is it a PLAN for my assets, my health care preferences, and how I’d like to be remembered? HELL YES.

I think this binder is an affordable and accessible way for a lot of people to get their ish together who would otherwise be unable to do so. Getting the basics of a “what happens if I’m incapacitated” plan into place isn’t something that comes easily to most people. The binder does all the thinking and organizing for you- all you have to do is fill it out and put it someplace safe that your loved ones can get access to.

The Binder is a Road Map For My Loved Ones

As someone who is young, healthy, and still very much so in the asset accumulating phase of life, having this binder feels like a very Adult thing to have done for myself. I don’t have a will (yet!) but with the binder I know that there is a plan of action for any emergency that might come up.

The binder is ABOUT me, but it’s really FOR Tbone and my family. It’s a gift to them, a road map to follow at a very stressful time in their lives. Rather than leaving them to stress about whatever terrible accident happened to me AND have to find my damn insurance paperwork, this binder helps ensure that all they have to do is focus on getting me the care I’ll need. This is THEIR plan for MY financial emergency.

Plus, when I finally do get my butt to an estate lawyer’s office, this binder will be with me! It’s the outline that we’ll use to figure out what goes where and who gets what in my will. I think this binder will end up saving me money, because filling it in completely already lays out a pretty thorough breakdown of what I own. Hopefully this means I’ll need to pay a lawyer for fewer hours of work! (#alwaysonthehuntforabargain)

We Love Accessibility

This post was in no way sponsored. I’m writing it because the binder is only $39 and is a CHEAP and DETAILED way to make sure your ducks are in a row when it comes to emergencies. I am always here for more accessible financial tools! Plus we love supporting another woman owned business!

I am sort of the queen of ignoring things until they either 1) go away or 2) become such a huge problem that I HAVE to deal with it. I do NOT want that to be the case with my health and assets.

I’m not anticipating a dreadful accident or financial emergency but then, who is? Sh*t happens man! If the past few years have taught us anything, it’s that sh*t happens and having a plan will ALWAYS be better than not having one.

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