3 Things To Put in Your ‘Financial Go Bag’
Written by
Adam Palasciano
Edited by
Amber Barkley
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When disaster strikes, preparedness can make all the difference. Consider the recent California wildfires, which have caused catastrophic destruction to large swaths of the Los Angeles area. Thousands of homes have burned to the ground, leaving many families homeless. NBC News reported that, at one point, nearly 200,000 people were under evacuation orders as firefighters battled the flames.
This is the perfect — and unfortunate — type of scenario when having a “financial go bag” ready can be critical. If you’re wondering what it is, it’s pretty much exactly what it sounds like: a bag containing all the things you need related to your finances and your identity, which you can grab fast if you have to leave abruptly.
Here are three specific items you’ll want to put in your financial go bag, according to USA Today.
Next, learn how to start building the rest of your emergency kit.
Cash
It’s a smart idea to have at least several hundred dollars and up to a thousand dollars in your financial go bag. If there’s a widespread power outage in your area, for example, you may not be able to run to the ATM to withdraw cash.
It’s also recommended to have an old-school paper checkbook in your bag, just in case you run out of cash and it isn’t possible to pay with a card.
Identification
When an emergency strikes, ensuring you have all the proper forms of identification in your bag is crucial. These include copies of your driver’s licenses or state identification cards, as well as IDs that you may not typically keep in your wallet, such as Social Security cards, birth certificates and passports.
An important reason to have all your IDs on you is that authorities may need to identify you if you’re crossing a security checkpoint or if you need emergency medical attention.
Copies of Utility Bills
Recent copies of your electric, heat or internet bill may serve as an additional form of identification. For example, utility bills may serve as another piece of proof that shows where you live in case your neighborhood is blocked off and you have to prove you’re a resident to access the area.
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