Do You Know What Crisis You are Actually Preparing For? Panic buying vs. Emergency Preparedness - and Toilet Paper too!
It doesn’t matter where we live, chances are that sooner or later we’ll face some sort of a disaster or crisis that will leave us without power, water, or access to buy more. It could be a natural disaster like a snow storm, flood, tornado, or earthquake. Or it could be a health crisis like we are facing with a corona - virus that could require us to stay put in our warm and comfy homes for a few days or even weeks. The world can be a crazy place, but it's important to continue to think logically at these times. We can and should be prepared, but does it make sense to prepare for the end of the world vs prepare for the crisis we know is happening. Having enough food, medication, and basic supplies to last a few weeks or a month is probably a great plan and makes sense for everybody. Does breaking the bank or credit cards, so you have enough of something to last 6 months or more really make sense? Toilet Paper - enough said.
Our first step in emergency preparedness should be to find out what type of emergency situation we actually need to get ready for. If you live in Florida or the South East US coast, you should probably prepare for hurricane season, but in landlocked Alberta, preparing for a Hurricane does not really make much sense. What does, is preparing for what is currently happening with good information and facts. Here are a few from canada.gc.ca. And of course my comments!
In the event of a flu pandemic Healthcare services provided by doctors, nurses and hospitals may be reduced or unavailable, because of high demand.
Cheapo Jo - who may run out of toilet paper.
Jodie Stauffer, CFP is a wife, mother and Certified Financial Planner. "Being CHEAP has always been in my DNA. But let me tell you, juggling my business, household finances, financial goals with the needs or more accurately WANTS of my daughters, while staying on a budget has not always been smooth sailing." Cheap by Choice is about finding what's