Articles - Archived Money Matters

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Planning for Natural Disasters

Severe weather can happen at any time, and it's always a good idea to be prepared. After all, you may only have a limited amount of time before you need to evacuate due to a hurricane, tornado, flood or wildfire. While the first thing that may come to mind is stocking up on non-perishable food, water, batteries and first aid items, don't overlook another critical component: securing important paperwork and financial records. Many times, it's hard documents like these that are the most significant, but are also the most difficult to recover. Below are some suggestions you may want to consider.

Pack an emergency evacuation box.

This should be fireproof, lockable and lightweight. Inside, include emergency cash that could sustain several days of living expenses, important phone numbers, safe deposit box keys, account numbers for financial institutions, Social Security numbers, a current backup of computer files, copies of all the documents in your safe deposit box, bottled water, a couple of blankets and pillows, flashlight, batteries and first aid items. This box will come in handy if you need to evacuate right away.

Scan and save important documents.

On a secure USB flash drive, have copies of the following: deeds to any properties, vehicle titles, wills, trust documents, passports, birth certificates, marriage certificates, adoption certificates, death certificates, immunization records, pet records, insurance policies, medical insurance cards, last three years of tax returns, current account and investment statements, health care directives and powers of attorney.

Lease a safe deposit box.

Offering a high level of protection, these boxes should contain the original copies of all the documents previously mentioned. Visit your local branch to lease one today. Annual fees range from $18 to $90.

To help get you started, visit www.lgfcu.org/pmmworkbook and download the Personal Money Management Workbook. Pay special attention to the section on taking inventory. In the event a natural disaster strikes, you'll be glad you did!