Keep These Financial Records In Your Emergency ‘Go Bag’

Even if you don’t live in a hurricane-prone area like I do, there’s no excuse for not having an emergency kit ready for the worst-case scenario, whether it be a bush fire, a flood or an earthquake. And yes, the latter can happen in Australia – remember Newcastle in 1989?

So what do you need? Beyond evacuation essentials like clothing, toothpaste and a flashlight, you’ll also want to have a substantial amount of financial information on hand.

This information can help you make payments, access assistance and otherwise go about daily life during or after an emergency. Since mobile phones and internet services may not be available, it’s important not to rely on just having your username and password memorised to access various financial services. Plus, you’ll need a lot of that financial information to help you rebuild: For instance, you may need to show proof of income if you apply for an emergency loan. And the last thing you want to be doing as you’re trying to rush your family out of your house is trying to dig up your last pay stub.

The following are the financial documents you should pack copies of in your evacuation bag.

Identification

• Driver’s licence and/or passport

• Birth certificate

• Contact numbers for family, friends or neighbours

• School registration forms

Family

• Alimony payment agreement

• Child support payment agreement and payment receipts

• Elder care payment records

• Will or trust

• Power of attorney

Home

• The deed to your house or your rental lease

• Home or renter’s insurance policy

• Other home loans, like a home equity line of credit

• Photos of your property, including photos of valuable items that have separate insurance coverage

• Flood insurance policy

• Property tax statement

Car

• Title or loan records

• Registration

• Insurance policy

Banking, investing and credit cards

• Account numbers, routing numbers, verification codes and institution contact information

• Account information for stocks, bonds or mutual funds

• Retirement account records

Other financial records

• Most recent tax return

• Employment record (an offer letter, pay stubs or a print-off of your digital wage receipts) and contact information for workplace

• Government benefits documentation

• Utility account information

Cash

Along with your documents, you’ll want to have cash available for expenses if payment systems are unavailable or the power is out. How much should you have handy? The Simple Prepper advises having enough cash for one month of your “most critical” living expenses. I usually default to $350, unless there’s a storm on the horizon in the next few days that prompts me to withdraw more.

You may also want to slip a few cheques into your bag, if you’re afraid your cash won’t be enough to cover potential expenses.

How to store your financial documents

FEMA advises keeping printed copies or those stored on an external drive in a fireproof and waterproof container. For an evacuation bag, you’ll probably be more concerned about waterproofing your documents, so at the very least, grab a box of plastic freezer bags and go to town.

Here are some of my paper copies I took with me when I evacuated during Hurricane Irma in 2017 (and yes, I desperately need to update and reorganise all of it).

I like to divide my documents up into a few separate bags and label what’s in each bag with a permanent marker. Each bag also gets a card with my name and address stamped on it as an added layer of identification.

Whether you choose to have physical or digital copies with you, you’ll also want to have them backed up in the cloud. Be sure to password-protect your digital files.

If you’re working on adding documents to a flash drive, add a few files that aren’t password protected that contain your emergency contact information. Mark it with a red cross to make it easy for medical professionals to recognise it if needed.

When to update your “go bag” finances

Update the copied documents you’re stashing on paper or digitally at least once per year. If you’ve experienced a major life change—moving, marriage, family death, changed jobs, sold the house, etc.—you’ll want to update the applicable files as soon as possible.

FEMA offers a printable Emergency Financial First Aid Kit that you can complete to have on hand along with copies of your documents. It may feel like a tedious process to walk through every step, but taking some time to gather these documents and make the appropriate backups now can provide much-needed reassurance when you’re pumped up with adrenaline during an evacuation situation.