The No. 1 emergency that most people are going to face is a financial problem, and that isn’t necessarily gonna be the collapse of the American economy. It’s more likely that someone in your family will lose their job, or you’ll have a huge medical expense that you weren’t expecting and can’t pay for. I’m a single parent. About 10 years ago, I lost my job. The fact that my pantry had enough food for several months meant I was able to use my savings and my unemployment payment to keep my mortgage paid.
What’s the bare minimum you need to navigate across land?  For most people, that would be a compass and map.  A basic road map is sufficient to get a rough approximation of the lay of the land.  More detailed relief maps can help plan for elevation and estimate possible water sources but they also take up more room in your pack.  Waterproofed or laminated maps are also extremely helpful.  Lensatic compasses are the most reliable for little money.  If possible, a compass and protractor are also extremely helpful for route planning.  Obviously, not as essential but nonetheless useful.