There’s no doubt that financially many people are hurting. It takes planning and responsibility to be on a safe financial footing. There are a few things everyone needs at least one of that are related to the betterment of one’s financial life. If you’re without any of these items you’re going to have difficulties somewhere along the line. Here are 5 things you need and the explanations why, even if a few of them you might not want to think about.

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1. Bank account.

Some people would rather just use cash and never have a bank account but in today’s world, having a bank account is paramount to being able to survive. We can’t put thousands of dollars in our homes for risk of being robbed or something happening to our homes. Most company jobs these days won’t issue paper checks, and it’s hard getting checks cashed, while a bank account allows electronic deposit and immediate access to your money. There are still enough local banks where you can get free checking for a personal account, so there’s no reason not to have one.

There are a few other reasons to have a bank account. You can deposit checks you can’t cash anywhere else. You will often get a better deal on a loan if you have an account at a particular bank, especially when it comes to buying things like a car. If you have a checking and savings account or any two accounts in the same bank you can more easily move money around between them. It also helps getting to know the employees at a bank and their knowing you because it absolves you of that look of suspicion whenever you show up and they have no idea who you are.

2. Credit card.

As someone that warns people against excessive credit card usage, I hate owning up to this one. But without a credit card you can’t rent a car, you can’t book a hotel, and you almost can’t fly anywhere. Credit cards prove that you’re, well, you. Nothing says you have to carry a balance, but everyone runs into an emergency situation once in awhile, and a credit card offers great protection at a moment’s notice.

3. Health insurance.

This one might seem strange to put in here until you realize that more than 60% of the people that claim bankruptcy have a significant medical bill included that wouldn’t have existed if they had health insurance. I view it as I do life insurance; you never know you need it until something happens, so you might as well be proactive at it.

The law of the land right now is that if you don’t have health insurance, you’ll pay a tax penalty. One way to look at that is that the penalty might cost you less than having health insurance. The other way of looking at things is that all of us are an accident away from a medical emergency, and even with a high deductible plan the costs you’d end up paying out of pocket will be less than they would if you don’t have insurance.

4. Transportation.

Everyone needs access to their own mode of transportation, and price might vary depending on what you get. Even in New York City, the need for having one’s own transportation became important in 2005 when there was a subway strike and suddenly there weren’t enough taxis to go around.

If you pay for a car with cash that costs more than $9,999, there are lots of papers that have to be completed and signed to prove where you got the money. It a hassle most car dealers don’t want to go through, so they’ll request either a check, money order or a credit card. It’s a lot less hassle to pay with a check, and easier to make payments by check or automatic payment from a bank account than using a credit card on a monthly basis. As long as you have the money in your account, there are no fees or interest accruing on outstanding balances.

5. Rainy day fund.

This one’s entirely on you but I can’t stress how crucial it is. It doesn’t have to be thousands of dollars. How often have you suddenly needed to buy something specific and didn’t have any money laying around the house? What if all you needed was a quick $20 to buy a pizza?

The easiest way to create a rainy day fund is to have some kind of container and throw loose change into it on a consistent basis. Every once in a while think about wrapping some of those coins up so you have a better idea of how much money you can lay your hands on in an emergency. In a short time you could easily have at least $250 laying around that in a pinch could come in handy. If you’re not dipping into it all the time it will be a great emergency fund when you absolutely need it.