Preparation means peace of mind

by Center for Personal Finance editors

MADISON, Wis. (9/11/06)--Whether it's a terrorist attack, natural disaster, or other emergency, having a plan in place and essential supplies already gathered in one location can give you and your loved ones some invaluable peace of mind (Credit Union National Association Center for Personal Finance).

It's no coincidence that it's National Preparedness Month. As we pause to honor all those who lost their lives five years ago, ask yourself whether you've taken steps to prepare your family for the possibility of a quick evacuation or even a prolonged quarantine in your home from, say, an avian influenza outbreak.

Better Homes and Gardens (Aug. 2006) reported that only 10% of families in the U.S. have an emergency plan, a disaster kit, and training in first aid and CPR, based on a recent American Red Cross survey.

Here's something you can do this week. Compile a "grab-and-go bag" in case you need to evacuate your home quickly. Include a change of clothing, personal travel-size toiletries, flashlight and batteries, extra pair of eyeglasses, a whistle to signal for help, a few days of prescription medicine, a few bottles of water, some energy food bars, and family photographs. Make sure you quickly can grab some cash and a credit card, as well as an extra set of car, home, and safe deposit box keys.

Make copies of some important financial documents and place them in a waterproof, portable container. Include birth certificates, tax returns for the past two years, driver's licenses, passports, Social Security cards, credit cards, deed, vehicle titles, insurance policies, appraisals of valuables, a household inventory, and emergency contacts. Keep the portable container in a locked, safe place at home until you need it.

For more information on preparing for any kind of emergency situation, visit consumerreports.org (type "storm & emergency guide" in the search box) and redcross.org.

For more information, read "Disaster-Proof Your Important Papers" in the Home & Family Finance Resource Center money savvy section.