First off, thank you to everyone for your comments and suggestions re: Monday’s post! I’ve made my decision for February’s savings goals, at least, which you’ll see next week in my monthly budget post. As for March and April… well, we’ll see when the time comes.
I think one of the reasons I’ve been so stressed about the idea of not reaching my savings goals so early on in the year is because my brain has been focused on one thing lately: preparing for emergencies. Just a few days ago, I was telling a friend how I had bought jumper cables to put in the trunk of my car, along with a blanket, flashlight, water, etc. His reply made me laugh: Do you know something we don’t!? No, I don’t!
I honestly don’t know where all of this is coming from – the savings goals, insurance policies, etc. I’ve been seeking balance in all the other areas of my life, but there’s this feeling inside of me that’s telling me I need to be ready for something bad to happen. For years, I was living so far over the edge of my comfort zone, with absolutely zero resources (financial and otherwise) to help me in case of an emergency. Now that I can finally afford to start saving and taking care of myself, I have this sense of urgency to prepare for absolutely every possible scenario. (Note: This is not what balanced looks like, lol.)
Anyway, aside from just my savings and health-related goals for this year, there are a few other emergencies I want to prepare for:
If you grew up in British Columbia, you were raised to believe “The Big One” would happen at some point in your lifetime. Living in the Pacific Ring of Fire, we experience earthquakes all the time. It wasn’t until I was living in Toronto that I realized not every province practices earthquake drills or hosts an annual “ShakeOut“. I also hadn’t thought about the fact that British Columbians may be the only Canadians who need to add earthquake insurance to their home/tenant insurance policies (which I purchased in December).
It’s impossible for me to predict whether or not I’ll actually experience a “big” earthquake while living here, but I want to have an earthquake kit prepped and ready in case I do. This year, I want to piece together a big earthquake kit for my home and a smaller kit (mostly food and water) for my car. And taking a tip from Preet’s new book, I’m also going to take out a few hundred dollars cash and keep that with my kit indoors – because you never know when you could be in a situation where debit systems are down for a few days.
Other than smoke alarms and a fire extinguisher, there’s no such thing as a “kit” that could help protect you from the aftermath of a fire. If I was inside and managed to escape, I’d likely try to grab my keys, wallet + earthquake kit on the way out. But there is one thing I would like to purchase this year, to help protect me in case anything I owned went up in flames: a fireproof file folder/safe. I’d been thinking about it for a few weeks, when Catherine mentioned she got one at Christmas. For less than $50, I think I’d feel a lot better knowing my paperwork, passport, emergency cash, etc. were locked up in one.
The Worst Case Scenario
Since I’m single and have no dependants, I’ve never felt the need to write up a will – and truthfully, I still don’t. I have beneficiaries assigned for all my savings accounts. Mom and Dad know I’d want them to sell my stuff and split the cash between Baby Bro and Baby Sis. And that’s it… I think!? Unless you can tell me something I’m missing! Should someone like me get a will, if my beneficiaries are all lined up? I’d love to hear what some of you have done and what helped you make your decision around this.
I don’t really have a timeline for when I’d like to have all this stuff purchased / pieced together by… these are just thoughts that have been in the back of my mind. Maybe I’ll start making a list of what I want to buy now and start saving for one big haul, so I can buy everything after the next three (expensive) months go by.
Are you prepared for any/all emergencies?