April is recognized as National Financial Literacy Month, a time to highlight the crucial role of financial education in empowering all Americans to achieve financial well-being and take control of their financial lives. A key aspect of financial well-being is being prepared in the event of a financial emergency.

South Carolina has seen its share of natural disasters over the past year, including hurricanes and wildfires that have had big impacts throughout the state. Other emergencies like a car accident, medical treatment or property damage can also lead to a financial emergency. Are you prepared if you had a sudden financial emergency?

According to the Federal Emergency Management Agency (FEMA), six out of 10 households in the United States experience at least one financial emergency in a year. A financial emergency is any expense or loss of income you do not plan for, like a missed paycheck, a damaged roof, a flat tire or a medical bill.

Whether you are a college student just starting out on your own or a working adult with a family to support, consider the following actions to help protect yourself in the event of a financial emergency:

• Start an emergency savings account to prepare for unexpected financial emergencies or disasters.
• Protect important records and document your possessions. Upload important documents to the cloud.
• Review insurance policies regularly to ensure you have the right types and amounts of coverage.
• Create and update your emergency plan. You can fill out and download an emergency plan at Ready.gov/plan.

For more tips and actions to consider, visit Ready.gov/financial-preparedness.

For more topics and information related to Financial Literacy Month, visit mymoney.gov.