- Ziggurat Realestatecorp
- Aug 4
- 2 min read
The current global environment reminds us that life can change suddenly. Preparing for those changes is not just wise — it's necessary. Here are some critical financial steps to take now while you still have the time and presence of mind to do so thoughtfully.
Since health risks can emerge at any time, it's essential to gather your important financial documents — such as insurance policies, stock certificates, investment fund certifications and land titles — into one secured location. Also keep digital copies backed up on the cloud.

This makes it easier for your next of kin to process insurance claims or manage estate matters in case something happens. Communicate where and how to access these files to a trusted family member to prevent confusion during stressful times.
While organizing your documents, review your life and health insurance policies. What is the current value of your death benefit? Will it be enough to cover your family's needs?
You can estimate this by dividing your policy's coverage by your family's monthly expenses. If the benefit won't last long enough, you might need to upgrade your plan or purchase additional insurance.
A professional financial planner can help you determine any coverage gaps and identify suitable solutions within your budget.
Leaving your family financially unprepared amid an unstable economy would be a great disservice. Now is the time to ensure they have enough.
Illness or incapacity can strike unexpectedly. It's vital to express your preferences to your partner or trusted individuals about your treatment, funeral arrangements and other personal decisions — such as the type of wake or who should officiate.
If you have children, think ahead. What happens if both parents are gone? Determine who will take custody, how insurance proceeds will be managed and what arrangements should be made. Clearly communicating this reduces stress and avoids conflict during an already difficult time.
In the case of severe illness or coma, who decides whether to continue life support? That burden often falls on grieving loved ones.
By preparing an advanced medical directive or living will, you specify your preferences ahead of time. This removes the emotional strain from your family and ensures your choices are honored. It protects your dignity while giving your family peace of mind.
Many people have found themselves with lower expenses from reduced travel, dining out or entertainment. Use that extra cash to create or grow an emergency fund.
Having three to six months' worth of expenses in savings gives you a safety net. In these volatile times, saving even more is advisable. Keep this fund in conservative, liquid instruments like savings accounts or money market funds for accessibility and capital protection.
Lastly, consider developing multiple income streams. Not only can this supplement your savings, it can also soften the blow if you lose your primary job.
Offer your skills, explore online freelance work, or monetize hobbies like cooking or crafting. Join digital marketplaces or local networks to promote your offerings safely and conveniently.
While we hope for the best, we must prepare for the worst. Strengthen your body and mind. Organize your finances. Communicate your wishes. Establish your emergency fund and income sources.
In uncertain times, preparation is the most powerful protection — for yourself and for those you love.
Source: Manila Times