Financial Preparedness | Outdoor Survival Gear And Preparedness

What Documents Should I Have On Hand In Case Of An Emergency?

Eli Adams — Tue, 14 Apr 2020 15:49:21 +0000

A part of emergency preparation that is often overlooked is having proper documentation in a safe location. But in so many emergencies, if you hadn’t thought of it before, this is a step you will wish you had taken. Here is everything you need to know about what documents to keep, where to keep them, and why this is so important.

What Documents Should You Have In An Emergency?

The most important documents to keep safe in an emergency can be divided into a few groups: insurance papers, identification papers, personal documents, medical documents, and contact information. Insurance papers and financial records are critical for getting into contact with your insurance after a disaster strikes. In addition, you will want to keep these as proof that you were insured and what the specific insurance outlined, in case of losses. For your insurance papers, consider including:

Household and place of business inventory
Duplicates of all insurance policies
Mortgage documents
Real estate deeds
First two pages of your previous year’s federal and state tax returns
Title paperwork
Motor vehicle titles and bill of sale, serial or VIN numbers
Wills and trusts
Safety deposit box, including the location, number, contents, location of the key, and authorized persons to access the box
Investment portfolio
Stocks, bonds and other securities
Bank, checking, savings account numbers or certificates
Credit card accounts

Identification papers are critical for your emergency kit, as these are essential for any unforeseeable tasks or travel necessary or resulting from a disaster. Within your identification papers file, make sure to include:

Citizenship papers
Birth Certificate
Marriage Certificate
Death certificate
Adoption/custody decrees
Military papers
Passports
Visas
Social security card
Employment records
Photocopy of documents kept in your wallet or purse

Personal documents should be kept to protect irreplaceable items that would be devastating to lose. Personal documentation to keep protected could include:

Family photos, videotapes, or heirlooms
Important books
Personal family history
Family genealogy records

Medical documents can be kept to inform those caring for you in a potential disaster of any allergies, prescriptions, and/or pre-existing medical conditions. Medical documents to remember could include:

Family health and medical records
Employee benefits information
Letter of instruction in case of death
Funeral and burial plans
Name, address, phone number of the attorney, financial advisor, and insurance agents

Contact information is critical to include so that people can contact you in case you are separated from your documents. In addition, it should include the contact information of people you would want to call during an emergency.

Why Is It Important To Have Proper Documentation On Hand During An Emergency?

Proper documentation is critical to emergency preparedness. So much in our world is dependent on your identification documentation. Without it, you cannot drive, travel, start a bank account, access your bank account, or do too much of anything. If you had to flee your house quickly, or the original documents were destroyed, having identification documentation on hand would be necessary for rebuilding every part of your life. Medical documentation can literally save your life. In addition, they can help you continue to get your prescriptions and proper, personalized medical care. Financial and insurance documents, as well as personal and contact documents, can save you hours and hours of hassle and headache in an already stressful time. There are certain documents that are hard to replace. If all of your documents are suddenly destroyed, it is extremely difficult to “start over.” In case you have not prepared and end up losing important documents unexpectedly, the government has a program to help you start over. But still, this process is long, stressful, and difficult. It is worth the forethought to keep important documentation on-hand.

Where Should You Keep Vital Documents In Case Of An Emergency?

These documents should be uploaded digitally, downloaded onto a flash drive, and printed out as copies to be kept in a safe location. To ensure maximum safety, consider opening a safety deposit box at a bank in case your first set of documents gets destroyed or lost. For some legal purposes, digital documents do not suffice. At the same time, hard copies can be stolen or damaged. Having hard copies and a digital file of all of your documentation is the safest way to ensure that you will have all of the documents you need in an emergency.

How Do I Properly Store My Important Documents?

Safe locations to store your important documents include a fireproof lockbox or safe, a safety deposit box, or a three-ring binder with plastic sleeves into which you can insert documents. You will want to store the documents in an easily-accessible place in your home.

Do I Need To Prepare These Documents For Everyone In My Family?

Start your documentation preparedness journey by collecting these documents for yourself, and then expand to your family members. Many of the documents will be replicas, especially if you have children, but some of them–such as birth certificates and social security cards–need to be stored for each person in the family individually.

The post What Documents Should I Have On Hand In Case Of An Emergency? appeared first on Outdoor Survival Gear And Preparedness.

How Do I Prepare Financially For A Disaster?

Eli Adams — Mon, 13 Apr 2020 08:49:30 +0000

Why Is Financial Preparedness Necessary For Disasters?

Although creating preparedness plans for likely disasters in your area may look different from incident to incident, there are a few common threads. Most of us know that you need to have food and water stored and hopefully understand the basics of first-aid. But one thing that is almost as necessary (but often overlooked) is the importance of financial preparedness. There are very few emergency situations that do not take a toll financially for individuals, families, communities, nations, or the global landscape. And although we know that this may look different for different people based on individual income and needs, there are ways that all of us can better prepare for the next crisis.

How Can I Prepare Myself Financially For A Disaster?

To begin your financial preparation for any disaster, remember that any small effort is better than none. You may not be able to complete each of the steps. The important thing is to do what you can and create a plan for what you cannot. Perhaps your small cash fund is $50, or even $25. Perhaps your emergency fund is small if money is especially tight. Start where you are, and build as slowly as you need. Preparing for a disaster can be broken down into 5 simple steps: create a small cash fund, create an emergency fund, have proper insurance, keep detailed records, and open a safe deposit box.

The first important way to financially prepare for any emergency is having a small cash fund on hand. Natural disasters can often wipe out the power in entire communities, which may lead to you paying cash for your necessities for a few days.
- Ideally, you will have $200-$300 in your home in a safe location. In addition, you will want this amount to be made up of small bills, especially $1 and $5 bills. The reason for this is that businesses may not be able to give you change if there is a cash shortage.

Second, save as much money in an emergency fund as you can afford. This fund should be budgeted in and set aside specifically for a disaster. Cut spending if necessary in order to protect this fund for when it is actually needed.
- Having an emergency fund will make no small difference when recovering from an emergency. If you are suddenly unemployed, if your major belongings are damaged, and/or if the economy is suffering, your emergency fund in a reputable online bank will make a massive difference. Even more than this, an emergency fund could allow you to be prepared enough to help people who have been less fortunate in times of stress and panic.

In the case of a disaster, you will also want to have proper insurance coverage. In addition to a basic homeowner’s insurance policy, you will want to get insurance specifically for a disaster or other loss.
- To begin, go through your homeowner’s insurance with a fine-toothed comb to determine what is covered and what is not. You will want to make sure that you have flood insurance, disaster insurance, and disability insurance. You may think that disability insurance does not apply to you, but one out of every four people in America will become disabled before they retire, making this type of insurance just as important as the rest.

Even with proper insurance, you may not get fully reimbursed without keeping close records in your home about what you owned before a loss. This can be done simply by making a video while walking slowly throughout your house. Pause the camera on different belongings and provide narration by stating the brand, approximate purchase date, and price for each item. This will be invaluable in the case that you suffer loss in a disaster.

Finally, open a safe deposit box or buy a fireproof safe for all of your valuable documents. Keeping your important hard copy information in a safe deposit box at a local bank will increase the chances that this documentation will survive the disaster. In your chosen location, consider including the following:
- Birth certificates
- Marriage and family records
- Adoption papers
- Property deeds
- Wills and trusts
- Insurance policies
- Passports
- Social security cards
- Immunization records
- Bank account information
- Credit card account information
- Important Contracts

What Is A Good Amount For An Emergency Fund?

An emergency fund is a fund set aside for an unexpected emergency. It is not money that you plan to spend or money for large expenses like a house or a car. The more robust your emergency fund, the greater chances you have for financial security in any disaster. But don’t be intimidated by where you want to be; starting small and building from there is sufficient. Every small effort counts when it comes to being financially prepared. But with all of this, is there an ideal number of how much we should try to save? The ideal number for you will be what you and your family need to survive for six to eight months. This number will vary widely from person-to-person depending on lifestyle, dependents, debts, and expenses. To begin, track your expenses closely for one month and work on creating a one-month emergency fund based on this number. From here, build as you can. Remember not to get overwhelmed, especially if money is tight. As in any emergency preparedness, any little effort can make a world of difference.

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