As survivors of the terrible hurricanes and tornadoes of past years can attest, disasters can have immediate and longer-term effects on personal finances, especially when people are forced to escape with little but the clothes on their backs. That’s why it’s important that any disaster preparations also include a plan for your finances.

The objective of these contingency preparations is two-fold: to provide the money and identification needed to get through the first few days of an emergency and to ensure that you have copies of the records and documentation that would help you return to a normal, financially secure life as soon as possible.

First Step — Create an Evacuation Box

What can be done to be financially prepared if the unexpected happens? Start by organizing a lockable evacuation box or suitcase containing important records, legal documents and identification. The box — light enough to carry if you were forced to flee your home due to an emergency, and preferably fireproof — should contain copies of such documents as your birth certificate, marriage license, Social Security card, will, insurance policies, property deed and power of attorney (originals of vital documents should be stored in a separate, fireproof safe or safe deposit box).

The box should also have a list of current financial accounts and contact information for your insurance agent, attorney, bank, financial advisor, family, friends and any other key people you may need to reach in an emergency. Also it may be a good idea to include sufficient cash for two or three days in case automated teller machines are unavailable. Other items to put in the evacuation box include photos or videos of your home and personal property. These can be a big help in speeding up any insurance claims. If you keep financial records or photos on a computer, copy them to a disk and add it to your box. Alternatively, you could use an Internet storage service.

Be sure that at least one person whom you trust knows where you keep the box in the event something were to happen to you. In addition, since a disaster could strike while you’re away from home, you may also want to keep duplicates of the contents of the evacuation box at a separate location, such as your office or with your attorney.

Other Planning Moves

As hurricanes Katrina and Rita demonstrated so vividly, survivors may be displaced from home and work for weeks or even months, quickly exhausting cash and credit card limits. That’s where an emergency savings fund can make a real difference, providing money for living expenses before insurance proceeds and disaster relief funds are received. Financial planners advise maintaining an emergency savings account equal to three or more months of expenses. Establishing a line of credit that could be drawn on in an emergency may also be worth considering.

Insurance is obviously a major consideration of disaster planning. Review the adequacy of coverage you have for your home, vehicle and valuables and make sure you have proof to substantiate insurance claims. In addition to photos or video of the contents of your home, copies of professional appraisals of jewelry, works of art and collectibles should be included in your emergency box.

Regular Maintenance

Keep in mind that an evacuation box is only good if it’s up-to-date. Lists of accounts, contact information and records should be reviewed periodically and revised as necessary. If you manage your finances electronically, also be sure to include a current list of web addresses, user IDs and passwords.

When you think about it, disaster proofing your finances is really an extension of sound financial management practices: organizing, updating and safeguarding vital documents and records and ensuring that you would be able to recover financially from the loss of personal property. The few steps it takes to assemble and update something as simple as an evacuation box will provide peace of mind through the knowledge that you have gone the extra mile to protect your personal finances if the unthinkable should ever occur.