Many Americans experience the challenge of rebuilding their lives after a disaster or other emergency. In these stressful circumstances, having access to personal financial, insurance, medical, and other records is crucial for starting the process of recovery quickly and efficiently.
Taking the time now to collect and secure these critical records will give you peace of mind. In the event of an emergency, it will also ensure that you have the documentation needed to start the recovery process without delay.
The Emergency Financial First Aid Kit (EFFAK) can help you financially prepare if a disaster or other emergency strikes your community. The EFFAK contains four important steps to financial preparedness:
· Assemble your important documents and contacts;
· Review your insurance policies and financial paperwork to be sure that they are still accurate and current;
· Store paper and electronic copies of all files in safe locations; and
· Revisit and update your EFFAK on a regular schedule. (Updates are especially important when certain changes in your life occur, like a change in marital status, birth of a child, and opening or closing accounts.)
April is Financial Literacy Month. This month is a great opportunity to review and update your EFFAK. You can find more financial preparedness resources online.