They passed away unexpectedly. Their deaths were similar to the more than 700,000 who have died due to COVID-19 in the United States. Fortunately for their families, they had documented their financial information. That meant one less burden for their survivors.
The Federal Reserve Bank of Kansas City developed External LinkPlan. Prepare. Prevail. (P3) as a resource for weather-related disasters such as fires, floods and tornadoes. We are finding, however, an increased use with elderly parents/grandparents and health-threatened family members. Users tell us they have shared it with parents and in-laws.
Through focus groups with disaster survivors we found that many households and small businesses do not have their financial information arranged in an orderly or useful manner. P3 fills the gap in easy-to-use and easy-to-understand tools for financial preparedness.
A disaster doesn’t have to be a community-wide tornado, pandemic, flood or wildfire; the damage can just affect your home or your business. P3 is a suite of free online resources to help you and your customers organize financial information so when a disaster strikes you have the necessary information to recover.
P3 resources include:
- Form fillable PDFs for households and small businesses (also available in Spanish)
- Quick checklists for households and small businesses (also available in Spanish)
- Helpful links to other vital resources
Being financially prepared for a disaster helps everyone. Two short videos help you spread the word with family members, employees and businesses. External LinkOne video encourages us to recognize that it can happen to us. External LinkAnother video shares the impact of life-changing events on our desire to be prepared.