Financial Reserve

Financial Reserve

"Establish a financial reserve by saving a little money each week and gradually increasing it to a reasonable amount." ProvidentLiving.org

"We encourage you wherever you may live in the world to prepare for adversity by looking to the condition of your finances. We urge you to be modest in your expenditures; discipline yourselves in your purchases to avoid debt. . . . If you have paid your debts and have a financial reserve, even though it be small, you and your family will feel more secure and enjoy greater peace in your hearts." —The First Presidency, All Is Safely Gathered In: Family Finances, Feb. 2007, 1

President Gordon B. Hinckley has taught: “Set your houses in order. If you have paid your debts, if you have a reserve, even though it be small, then should storms howl about your head, you will have shelter for your wives and children and peace in your hearts” ("To the Boys and to the Men," Ensign, Nov. 1998, 54).

Putting aside emergency cash is "an investment against the unexpected – situations where everything else has failed and I have no other options to turn to." TheSimpleDollar.com.

THINK ABOUT IT -
Emergency Scenario #1: You just went through a major disaster. You can't leave the city and need some supplies. The power is out and the grocery store isn't accepting ATM or credit cards.

Emergency Scenario #2: You've suddenly been asked to evacuate because of a fire on the mountain near your home. You hope you can eventually drive to your sister's out of town, but suddenly the roads are congested. Everything is at a standstill and you could only make it across town. You need gas, food and water, and possibly a hotel room.

Emergency Scenario #3: Your youngest child is very ill. You need some medication from the pharmacist, but you left your wallet at work which is about 30 miles away.

Emergency Cash Tips:
Put it in several locations
Keep it safe from water and heat damage
Nothing larger than a $10 bill (You could pay $5 for a bottle of water in an emergency.)
Keep about $20 to $100 hidden in your car
Keep about $20 to $50 in your wallet in small bills
Keep minimum $100 per person at home
Dave Ramsey, author of "The Total Money Makeover," recommends you start with $1000.
Consider how you might use it in 72 hours - food, hotel, gas, etc.
Convert collected coins to smaller bills. It needs to be accessible, but don't use it to buy your lunch.
Hide it in non-obvious locations, but make sure your trusted older kids know where it is. You may not be home when they need it.

Why Prepare?

If ye are prepared ye shall not fear

This is the promise from the Lord to the saints.  We are living in the latter days, there is no doubt about it;  it is a time where the world we live in is filled with contention, uncertainty and turmoil.  Yet it is also the fullness of times.  We are greatly blessed to have the gospel here in our midst.  There is great hope and guidance that can be had if we only partake.

It is our purpose, with this blog, to assist those within our reach with the information that they need to prepare their families for times of trial so that in a time of need they may in turn assist our Heavenly Father's children.

We will cover many aspects of being prepared, and it is our hope that you will find answers to all of your preparation questions here, or at least be directed to a source with the answers you are searching for.

72 Hour Kit

One of the first things we should do in getting prepared is to have a 72 hour kit, or Bug Out Bag, assembled and ready to go.  Essentially this bag should contain everything that you and your family needs to sustain life for 72 hours in the event of an emergency.  72 hours being the general amount of time before government officials can assemble to assist those in need in the event of an emergency.

There are many ways to assemble a kit.  The important thing is that you do it.  Below is a list of recommended items for your kit.  There are many ideas also contained in the links to the right.  Here is a nice 72 Hour Kit (with Pictures)

72 Hour Emergency Kit
By Rachel Woods, About LDS Guide, http://lds.about.com

Notes:
• Update your kit every six months (put a note in your calendar/ planner) to make sure that: all food, water, and medication are fresh (not expired), clothing fits, personal documents and credit cards are up to date, and batteries are charged.
• Small toys/games are important too as they will provide some comfort and entertainment during a stressful time.
• Older children can be responsible for their own pack of items/clothes too.
• You can include any other items you feel are necessary for your family's survival.
• Some items and/or flavors might leak, melt, “flavor” other items, or break open.
Dividing groups of items into individual Ziploc bags might help prevent this.

Food and Water
(3 day supply of food & water per person when no refrigeration/cooking is available)
Protein/Granola Bars
Trail Mix/Dried Fruit
Crackers/Cereals (for munching)
Canned Tuna, Beans, Meat, Vienna
Sausages, etc (“pop-top” cans might leak/explode & Jerky can “flavor” other items)
Canned Juice
Candy/Gum (Jolly ranchers can melt & mint gum might “flavor” other items)
Water (1 Gallon/4 Liters per person)

Bedding and Clothing
Change of Clothing (short and long sleeve shirts, pants, socks, jackets, etc.)
Undergarments
Rain Coat /Poncho
Blankets and Emergency Heat Blankets
Cloth Sheet
Plastic Sheet
Fuel & Light
Battery Lighting (Flashlights, Lamps)
Extra Batteries
Flares
Candles
Lighter
Water-Proof Matches

Miscellaneous
Bag or Bags to put 72 hour kit items in (such as duffel bags or hiking back packs, which work great)
Infant Needs (if applicable)

Equipment
Can Opener
Dishes/Utensils
Shovel
Radio (with batteries!)
Pen and Paper
Axe
Pocket Knife
Rope
Duct Tape

Personal Supplies & Medication
First Aid Supplies
Toiletries (roll of toilet paper—remove center tube to easily flatten into a zip-lock bag, feminine hygiene, folding brush, etc)
Cleaning Supplies (mini hand sanitizer, soap, shampoo, dish soap, etc. Warning: Scented soap might “flavor” food items.)
Immunizations Up-to Date
Medication (Acetaminophen, Ibuprofen,
children’s medication, etc.)
Prescription Medication (for 3 days)

Personal Documents and Money
(Place these items in a water-proof container!)
Scriptures (miniature ones are lighter)
Genealogy Records
Patriarchal Blessing
Legal Documents (Birth/Marriage
Certificates, Wills, Passports, Contracts)
Vaccination Papers
Insurance Policies
Cash
Credit Card
Pre-Paid Phone Cards

All is Safely Gathered In

There are many great and wonderful videos on You Tube.  Some are inspirational and some are wonderful "How-to" instructional.  Here is a wonderful video that the Irvine California Stake has done.  May we all feel the spirit of being prepared.