EMERGENCY FINANCIAL FIRST AID KIT (EFFAK)

My friend Anita McDonald introduced me to the Emergency Financial First Aid Kit (EFFAK), a system for storing and organizing docs in the event of an emergency. The system is recommended by the U.S. State Department, the U.S. Federal Reserve System, and the U.S. Department of Homeland Security.

EFFAK was developed by John Bryant, the founder of Operation Hope, Inc, a non-profit that provides free financial recovery services to people affected by natural disasters and national emergencies.

You can get a free digital copy of the Emergency Financial First Aid Kit and the Personal Disaster Preparedness Guide here.

The guides will help you identify and secure important documents and otherwise prepare yourself to avoid financial ruin in the event of an emergency.

For example, in an off-site safety deposit box, you should store the following: a copy of your EFFAK and all legal docs, photos of all valuables, and computer back-up disk of financial documents stored on computer (update quarterly).

At home in a fire-proof cabinet or safe, keep the following: your EFFAK and other documents in a water-proof bag, $10 and $20 bills (ATM and credit card access may not be available), a writing tablet and 2 sharpened pencils, a copy of your off-site safety deposit box key, and an extra copy of financial records from your computer back-up disk.

Within reach of your home fire-proof safe, have the following documents stored in a durable bag: AC charger for your mobile phone, AC adapter that can be plugged into car cigarette lighter, required prescription medications, battery-charged flashlight.

Make a copy of your EFFAK and legal documents and give to your attorney or executor.