Why money is important in survival kit?

Make sure your emergency kit contains enough cash to pay for food, lodging and other necessities for at least three days should you not be able to return to your home, the power is out or you are unable to get cash from a bank or ATM.

sdflc.org - 5 Ways to Financially Prepare for a Natural Disaster

How long has games been $60?

The $60 price point was effectively established at the start of the Xbox 360 / PS3 generation, back in 2005, with Activision in particular...

Last updated Dec 8, 2022

What did people drink before clean water?

Germs, bacteria, and viruses had not been discovered during most of the 1700s, so people did not understand why they got sick. They just knew that...

Last updated Oct 12, 2020

Promotion

When it comes to natural disasters, we’re always told to prepare in advance; to gather enough supplies to sustain ourselves and our family for at least three days.

While our main focus may be on water, food, a battery-powered radio, flashlights and/or a head lamp, first aid kits and medicines, what about your finances? What kind of financial preparedness measures should you put in place?

5 Steps to Financially Prepare for a Natural Disaster

Cash

In an emergency, cash is king, given that ATM’s or other electronic forms of payment may not be available during an emergency and/or for a time period following an emergency. Make sure your emergency kit contains enough cash to pay for food, lodging and other necessities for at least three days should you not be able to return to your home, the power is out or you are unable to get cash from a bank or ATM. In addition to cash, it may be helpful to keep traveler’s checks and a roll or two of quarters (for pay phones or laundromat), along with your disaster supplies kit. You can keep a credit card in your emergency kit as well, but don’t plan to depend on using it.

Pay Off Debts

The better financial shape you are in before a natural disaster occurs, the better you’ll be able to financially rebound. One thing you can do to financially prepare for a natural disaster is to get control over any outstanding debt you may have. If you need help with this, contact a nonprofit credit counseling like DebtWave. Make sure to also set aside money to cover the expenses associated with a natural disaster in a specific emergency fund account. Financial experts recommend saving enough money in your emergency fund to cover your bills for three to six months. Tip: If you have credit card debt, student loans, a mortgage, etc. when a natural disaster strikes, call your creditors and explain the situation. Some may be receptive to working out a revised payment plan.

Personal Identification & Documentation

Following a disaster, you’ll likely be asked to confirm your identity in order to obtain disaster relief services, file insurance claims or access your property and/or financial assets. Make sure to keep copies, extra originals, or certified copies of important documents in one, convenient location such as a fireproof safe. Ideally you’ll want to grab these documents (see below) before you leave your home and find a safe area while emergency teams respond to a natural disaster. However, if you’re unable to return home and collect your belongings, you’ll want to make sure to protect important documents like:

Passport

Driver’s license

Birth and marriage certificates

Social Security cards

Military records

Federal and state tax returns (at least three most recent returns)

Health insurance card

Doctor’s name and phone number

Immunization records

Prescriptions (including for glasses and contacts)

Home improvement records

Inventory of your possessions

Warranties and receipts for major purchases

What is the simplest first aid?

What to Do Wash your hands or put on disposable gloves if you have them. ... Rinse the wound with water. Cover the wound with a gauze or cloth...

Last updated Sep 17, 2019

What foods destroy the gut?

What to avoid. As part of healthy eating, it's a good idea to avoid or limit foods packed with added sugar, which feeds bad bacteria, Blatner says,...

Last updated Aug 16, 2018

Promotion

Appraisals of jewelry, collectibles, artwork, and other valuable items

Credit card records

Retirement account records

Recent checking, savings, and investment account statements

Rental agreement/lease and/or mortgage documents

Recent pay stubs and employee benefits information

List of emergency contacts, including doctors, financial advisers and family members

Safe deposit box information (location, contents and key)

The more information you have access to following a disaster, the more quickly you’ll likely be able to file an insurance claim should a natural disaster damage or destroy your property. Tip: Take close-up pictures of valuable and include details such as a serial number. You can also videotape your belongings and include a narrative description of the relevant information in the video. If any of your important financial documents gets damaged and an online statement version is not available, call to obtain copies as soon as possible.

Mitigation Projects

Before you buy a home, you should always consider the natural disasters that are most likely to occur in your neighborhood. Just because your area may be more susceptible to a particular natural disaster doesn’t mean you can’t further prepare your home to try and mitigate the expenses you may incur in the event a natural disaster affects your area. There are a multitude of mitigation projects you can perform on your home, each of which costs a varied amount. If you rent a property, consult with your landlord on making the following adjustments.

Earthquakes:

Use child-resistant latches to keep cabinet doors shut.

Bolt bookcases and tall furniture to wall studs.

Secure overhead light fixtures to beams or rafters.

Use straps to secure your water heater.

Have a professional anchor the main frame of the home to its foundation.

Wildfires:

Clear brush surrounding your home.

Make sure you have fire-resistant siding.

Replace wood-shingled roofs with less flammable materials.

Hurricanes and Tornadoes:

Consider having a professional anchor the main frame of the home to its foundation.

Strap the roof of your home to the main frame.

Install hurricane shutters.

Build a tornado safe room or shelter in your home.

Flooding:

Move electrical panel boxes and the furnace from the basement or crawl space to an upper floor or attic. Some mitigation projects, such as building a tornado shelter in your home, or anchoring the main frame of your home to its foundation, can be costly. If you can’t swallow the cost of these mitigation projects, focus on the less expensive mitigation projects such as moving fragile items from higher shelves to lower shelves and securing cabinets with a child lock. It also helps to know how to shut off your utilities and to have an offline power source. If the power goes out, you’ll likely lose the ability to charge your phone, the food in your refrigerator will spoil and you may not have air condition or heating, which may present particular health dangers for some individuals. If you invest in an off-line power source like the Tesla Powerwall 2, which can be charged with power from solar panels, you may be able to keep your phone charged for a longer time period, you may save some perishable food items and you may lessen the chance you or someone in your home suffers from a heat-related illness if the a/c goes out.

How much is $5 a day for 30 years?

$330,000 If you save $5 a day in an account with a 10 percent annual return, you'll have around $30,000 in 10 years, $330,000 in 30 years and $2.3...

Last updated Oct 2, 2020

What books are rare and worth?

7 rare books that could be worth a fortune Harry Potter and the Philosopher's Stone by J.K. Rowling. ... Bridget Jones's Diary by Helen Fielding....

Last updated May 15, 2018

Promotion

Tip: Make sure to read through and understand what your insurance covers and what is required to file a claim in the event a natural disaster occurs. Be especially aware of how your policy handles different types of disasters. For example, hurricane damage may be handled differently than a fire or flood.

Review your insurance annually. Consider if you have the right kind of insurance to cover what you own. Do you have sufficient coverage for your neighborhood? Have you completed major modifications to your home or other property? Have those improvements been reflected in a revised insurance policy?

Income and Employment Impact

When preparing for the financial impacts of a natural disaster, you need to consider how a natural disaster may affect your job and income. Given each company may have a different way to handle disasters, we recommend sitting down with your manager, the human resources department, the benefits director, or the payroll department at your specific employer to ask specific questions. A larger corporation may even have an Employee Assistance Program (EAP) that can provide information. To help jump start your conversation with your employer about the company’s response to a natural disaster, consider the following questions:

Does your organization have a disaster plan? If yes, what is it?

If you’re unable to work following a disaster, will you continue to be paid? If yes, for how long? Will you receive the full amount of your paycheck if you’re a salaried employee?

If the business shuts down temporarily, will you continue to be paid? If yes, for how long?

Would you be able to use sick leave pay, vacation pay or any employer-paid emergency assistance?

Can you collect unemployment compensation? If so, when?

If you’re injured in a natural disaster, what medical and disability benefits does your company provide? For how long?

If you’re injured on the job during a disaster, would you be covered by workers’ compensation?

What happens if a disaster occurs during a mandatory strike?

Tip: Unemployment compensation can be applied for at the walk-in FEMA Disaster Recovery Centers. You can also call FEMA at 1-800-621-FEMA (3362).

Author: Katie Rucke

Bio: Curious is one word to describe Katie Rucke, a former investigative reporter, who fashioned a microphone from cardboard at a young age and perused her neighborhood with a hand-held camcorder looking for stories to share with the world. Katie now uses her writing skills to further improve financial literacy in the Greater San Diego area.

sdflc.org - 5 Ways to Financially Prepare for a Natural Disaster

What liquid does not expire?

Honey (raw): natural sugar, high acidity and low moisture ensures this liquid gold lasts forever (archeologists have even unearthed edible honey in...

Last updated May 23, 2020

When sick should you shower?

A hot shower won't make your cold or flu disappear, but it can help you treat the uncomfortable symptoms. Benefits of hot showers include:...

Last updated Dec 14, 2021

Promotion

What food is filling but cheap?

10 Cheap Healthy Foods that Fill You Up | Full Stomach and Wallet... Oatmeal. If you think of oatmeal as something that comes in little pre-...

Last updated Mar 24, 2019

Promotion

What salary is upper class?

Based on Pew's analysis, a household of three would need an income of $156,600 to meet the definition of upper class, which it defines as household...

Last updated Apr 7, 2018