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Plan for the Unexpected
Be Ready for What Tomorrow May Bring
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#46 Clean House
Get your financial house in order, that is. As if you needed another reason to shore up your financial situation, try this one: It'll give you
some breathing room when you most need it. And let your children or trustees know where all important documents are.
Personal finance expert Jean Chatzky offers more useful tips about how to "Organize Your Financial Life" at:
www.chase.practicalmoneyskills.com/jean
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#47 Build an Emergency Fund
Set aside money every month for this. You should have at least three months' living expenses available to you. Six months is even better.
And make it liquid — your emergency fund isn't like your retirement savings. You should keep it in a savings account or a money market
fund — somewhere where you can access it on short notice. Hopefully you'll never need this money. But if you do, you'll be glad
it's there.
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#48 Lose Work, Find Work
If you lose your job, your first step is to take care of yourself. Hopefully you already have an emergency fund set aside, but you'll want to
negotiate the best severance package you can from your former employer, and if it's a layoff, get letters of reference from supervisors.
Your next step is to get back on the horse. Use online job sites, talk to a headhunter or contact an outplacement counselor. Most importantly,
keep yourself networking. Go to industry events, put the word out that you're looking for work. Get your name in front of as many people as you can.
You never know who has a friend who's looking to hire.
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#49 Manage Through Loss
The death of a spouse or partner can be devastating. Sudden losses can be even harder. If your spouse or partner managed the majority of the
financial responsibilities, even just paying bills can seem overwhelming. But you can work your way through it. It is manageable.
Try not to make any long-term decisions right away. Take your time. Gathering the proper paperwork is the first step in settling your
spouse or partner's affairs. Start with the following:
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Death Certificate
The death certificate will be needed for many financial procedures you will encounter.
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Insurance Policies
These will help you determine benefits you are entitled to.
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Marriage Certificate
If you can't find your marriage certificate, you can get a copy from the courthouse of the county you were married in.
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Certificate of Discharge From the Military
If your spouse or partner was in the military, you may need his or her certificate of discharge to collect benefits.
Your Spouse or Partner's Most Current Will
Complete List of all Property
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#50 Just Get Yourself Free
This is the time of your life. Free yourself of financial worry, and love your money. Make a new plan today. Hop on board. You deserve it.
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