It’s been two years since Hurricane Katrina devastated the gulf coast. New Orleans and its neighbors are still struggling to rebuild. A third of New Orleans resident’s haven’t yet returned home. Many of those who have returned are still in FEMA trailers.Thousands more were forced in to bankruptcy.
If a major hurricane, earthquake or other disaster hit your area today would you be prepared?
Along with emergency water, flashlights, food and medical supplies, it’s important to have a financial kit on hand. This kit should include:
- One or more credit card with a high limit. Having access to credit can help you get hotel rooms or other expensive items during a crisis.
- Emergency savings account. Enough cash to cover your mortgage payment and other living expenses for a few months.
- Creditor contacts. A simple list of contact numbers for your banks, investment companies, credit card issuers and lenders. In a disaster, it’s important to communicate with your creditors. They often have relief programs to help.
- Copies of insurance documents. Keep copies of home, auto and other insurance policies with your kit along with some photo records.
- $200 or more in cash. Getting to an ATM in an crisis can be impossible. Having a little cash on hand will help cover unexpected expenses.
A few photocopies and a quick trip to the ATM is really all you need to get started with your emergency financial kit. Go today at lunch!
Emily Davidson – Credit.com‘s Communication Director and former TransUnion credit expert. Emily writes about credit reports, credit cards, loans and personal finance as the CreditBloggers.com moderator.
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Hurricanes Charley, Francis, Jean and others I don’t even remember skirted by where I live. People in Florida still haven’t completely recovered three years later.
On the first point, there is a warning. Some credit issuers lowered credit limits after Katrina for people in the affected areas. Lousy but true.