With Irene wreaking her havoc this past week on the East
Coast, we felt it most appropriate to remind everyone about keeping your financial
records safe. Natural disaster can strike at any time. As a result, we need to
remind ourselves it is important to backup records in case a disaster comes our
way. Without a disaster plan in place, you could face confusion, high levels of
stress, or even financial ruin. The following information will show you how to
backup your records so you can be prepared in case disaster strikes.
Document Your Valuables
Annually, go room-to-room in your home or business and
document each item. Include the value and condition of each item. Here are some
methods you can use to document items:
1. Take photos of items
2. Video record items
3. Document on paper the items
4. Input item information into a software program, such as
Word or Excel
Backup Your Records Electronically
One of the best and easiest ways to safe-keep your records
is to make sure everything is in electronic form. Consider scanning paper
documents, photos, and receipts into electronic format. Once all records are in
electronic format, you can make copies that you can use for your backup. Backup
copies on an external hard drive, CD or DVD, flash drive, or an online storage
service. Remember, once you have converted your documents to electronic format,
do not automatically assume that you should dispose of them. Certain documents,
such as birth certificates and social security cards, preferably should be kept
in their original paper format.
Store Records in a Safe Area
Store records in a secure and remote place, preferably away
from the town you are in. Consider family members that are willing to assist
you (and you can also return the favor for them too). Another option is storing
electronic information using an online storage service. There are several
companies that offer this service at a very reasonable cost.
