Are your finances prepared in the event of an emergency or disaster? While a lot of us may have emergency water and supplies on-hand, being prepared for a disaster means more than that - it means being financially ready. You need to have a plan to pay your bills, access your accounts, locate important documents and safeguard your records. Below are some tips to create a Financial First Aid Kit.
Identify important documents pertaining to your bank accounts, investment records, insurance policies, medical records, estate planning and identification information. FEMA's Emergency First Aid Kit and FEMA's mobile app can help you get organized.
Make sure your documents are accessible and safe. Create a "grab-and-go" bag with all your vital documents and keep it in a convenient place. Also, keep documents in a fireproof box or safety deposit box. And, it's a good idea to keep cash, including small bills, in your Financial First Aid Kit.
Maintain electronic/digital records that can be saved in the cloud or on your mobile device. You can also save documents to a flashdrive. Minimize potential disruptions to your finances by making sure that income you receive gets directly deposited to bank account(s). If you receive federal benefits, enroll in Go Direct. And, make sure you’re on top of all your passwords for your accounts. There are various apps to download that can manage your passwords.