Don’t overlook your finances

by Derryl Jack,
Manager, Zions Bank Monticello Branch
September is National Preparedness Month, and while that might bring to mind emergency kits and evacuation plans, financial preparedness is just as critical.
Disasters come in many forms. In Utah, we’ve faced wildfires, flash floods, earthquakes, and even a pandemic. But emergencies aren’t always large-scale events. A sudden medical bill, car breakdown, or job loss can be just as disruptive.
That’s why building an emergency savings fund is one of the most powerful steps you can take to be financially resilient.
Ideally, aim to save enough to cover three months of household expenses. If that feels daunting, start with $1,000. The most important step is simply to begin. Setting aside a few dollars a week can make a difference.
Automate your savings. Set up a portion of each paycheck to be automatically deposited into a savings account. It removes the temptation to spend by making saving automatic.
Keep cash on hand. While your bank is the safest place for your savings, it’s wise to keep a small amount of cash at home in small bills. In a disaster, ATMs and card readers may be down, and cash could be essential for food, fuel, or medicine.
Map out a plan. Beyond emergency savings, every family should have a financial emergency plan. Talk with members of your household about different types of emergencies and how to respond. Make copies of key documents — bank account information, insurance policies, and contact numbers — and store them securely.
Review your insurance policies regularly. Many homeowners and renters policies don’t cover flood or earthquake damage. Make sure you understand what’s covered and consider additional protection if needed. Health, life, and property insurance are essential components of financial readiness.
Finally, consider signing up for direct deposit and automatic bill pay. These tools ensure your income and payments continue uninterrupted, even during a crisis.
Financial preparedness isn’t just about protecting your money—it’s about protecting your peace of mind. And there’s no better time to start than now.