DETROIT, Mich. (WXYZ) — With so much uncertainty right now, it’s easy to feel out of control so we spoke to an expert about what you can be doing right now at home to protect yourself financially down the line.
“I have the cleanest house in the world right now,” said Leon LaBrecque from Sequoia Financial.
LaBrecque and his wife have cleaned their home from top to bottom. So he thought of a few more important projects he could do while staying safe at home.
"Why don’t we do this with our finances too,” LaBrecque said. "
He said that he then took his cell phone out and went around his house taking pictures of all of the contents inside. The home photos are the best visual inventory to protect you in the case of a catastrophe, like a fire or flood.
“We took pictures of my wife’s jewelry and we took pictures of the collections,” LaBrecque said.
He now has a file that he can pass along, if needed, to his insurance company. However, taking inventory is not just helpful for an emergency. It gives you an idea of what you might be able to make some money on when the pandemic subsides.
Once you’re done with that, consider a little upkeep on the contents of your wallet.
“I took all the credit cards out and took everything out and I took a picture of it," LaBreque said.
He found a credit card he hadn’t used in a while and called them up to get an annual fee waived.
How about your digital assets?
“You know, I've got all sorts of pin numbers," he said. "I have a pin number for my bank account. I have a pin I didn’t know if my wife knows all those pin numbers. It turns out she didn’t."
Pin numbers and password sharing so your family will have access in the case of an unforeseen event.
“It cost me a few minutes of time and now I have peace of mind,” LaBrecque said.
Here’s the Rebound Rundown:
- Make financial cleaning...part of your spring cleaning
- Take photos of your home, clean out the wallet
- Touch base with your spouse on vital financial information
If you have a story you think we should pursue at the Rebound Detroit, something you think would help you get back on your feet, send us an email at ReboundDetroit@wxyz.com