4 WAYS TO FINANCIALLY PREPARE FOR A STORM | Marvin Germo
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4 WAYS TO FINANCIALLY PREPARE FOR A STORM

By: Marvin Germo | September 19, 2014

Don’t let storms batter your finances

Typhoon Ruby, another super typhoon that is threatening to hit almost the same areas as Yolanda with even stronger intensity and force and is in a path closing towards the Philippines.  I do hope and pray that Ruby deviates and does not pass through the Philippines.  I know and I believe that our God is mighty to save and will protect us as a nation.

Being that the Philippines is at a location that is often hit by typhoons, I just wanted to share this article I wrote a few months back when Typhoon Mario was lashing out in Metro Manila.  The heart of this article is to help more of our kababayans not just to prepare logistically but also to prepare financially should storms hit and come to our shores.

If you are in any of the critical zones please stay safe.

Typhoon-Hagupit

As what I always hear in church, “Preparation time is never wasted time!”  As we prepare when we have extra funds, this gives us the flexibility to function well in times of crisis.  It is wise to plan and prepare as this can protect you, your finances, and things that matter most in your life.  I do hope this helps you as you move closer towards financial freedom.

If you have been hit hard today by the storm, I believe God’s Grace and favor is there for you to be able to help you bounce back and move forward again in life.  It’s not ever until you say it’s over!

Catch me in my live training events! (quick plug)

The heart of why I do this seminars is I want to build a generation of Filipinos with the right foundation in stock investing.  I want to bring smart investing to every Filipino around the world! If you would like to know more on how you could time the market checkout the trainings below.

Here are 4 ways to prepare financially when storms hit:

1.  Store Cash

A few thousands may come in handy as ATMs or credit card facilities may be offline due to electircity being cut.  It would be wise to store cash for quick expenses that may occur.  If you have a safe at home, that would be better as you can store larger amounts.  If you have none, make sure you keep it in place that no one can touch and in a place where you don’t get tempted to use it if there’s no emergency or calamity.

2.  Get covered

Getting insurance is not about you wanting bad things to happen but rather it is the responsible way to protect yourself and your family should calamties strike.  Remeber Ondoy, Habagat, or Yolanda?  The best time to get insurance is when you think you do not need it.  This will protect you from getting into debt or  you dabbling into your savings and investments should you get hit hard by the storm.

3. Emergency Fund

Should a calamity hit, this is the best time to use your emergency fund.  As this is a real emergergency.  An emergency fund, will cover for expenses like repairs from any damages or any other expenses above and beyond the quick expenses that you may need while you are trying to rebuild.  If you do not have an emergency fund yet, try to build one and place it in either a savings account or a time deposit.  Try to set aside  money on a monthly basis until you buld your rock solid emergency fund.  A good rule of thumb is to setup atleast 3-6 months worth of what you normally spend on a monthly basis.

Make sure to replenish the money that you used and took out from the fund.

4.  Buy Low 

Buying low is not just  a technqiue used in the stock market.  But you can also use this to prepare for calamities.  Buy all of the bare essentials like food, candles, matches, water, flashlights, batteries, and medicine when there is no storm (as prices are cheaper).  Bascailly there are things that you may need during the storm.  Prices tend to rise during calamities as there may be a shortage of food or any of the basic necessities.  This will allow you to minimize expenses during calamaties and will hedge from getting out of the house when it may not be safe to go out.  Having more stored will also allow you to be a blessing to others during their times of need.  That is what prosperity is, being a blessing to others in their time of need.

I’m excited to share my 5th book overall and the 4th book in the Stock Smarts series, Stock Smarts: Breaking the Resistance – How to time your traders perfectly. The heart of this book is to teach you strategic ways on how to come in and buy and sell stocks in a way where you come as the market is headed up and come out as the market is headed down. The book is now out and exclusive via Marvin Germo Book Orders.
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