Your Emergency Fund is Useless in an Emergency

There’s quite a bit of talk in personal finance circles about the importance of having an emergency savings fund. The interpretations vary, but most people would suggest sufficient savings to pay your basic expenses for 3-6 months. Frugal Dad has a good article on this very topic today.

But even though we call this an “emergency” fund, it’s a bit of a misnomer. A better name might be a “surprise fund” (although that sounds a bit too jovial) or a “Contingency Fund” (but that’s a bit too lawyerly). In a true emergency such as a natural disaster or period of civil unrest, you don’t need money- you need supplies.

Lately I’ve been preparing (okay, thinking about preparing) an emergency preparedness kit for our family. There are no disasters looming on the horizon and this is a relatively peaceful time of year, but I’d much rather have things in order when things are calm than have to scramble to put together necessities when chaos strikes.

The first step towards building an emergency kit is to figure out what risks you’re actually likely to encounter, as this will dictate some of the supplies you will need. Where I live, earthquakes are a virtual impossibility but heavy snow and ice storms are quite common. For someone in California, it may be the opposite.

Regardless of the risk, some of the necessities will remain the same- water, food, etc. But your specific circumstances might require some modification- for me, a big concern would be a disaster in the dead of winter that cuts electricity and therefore, heat, and I’m going to make sure I’ve got blankets and alternative sources of heating.

What You Need

• Water - This is one of the most important things you will need to have on hand. You will need enough clean water to last each member of your family (including furry ones!) 3-5 days. Public Safety Canada recommends 2 liters per person per day, but I’d be inclined to increase this to 4 liters per day to allow for food preparation and a little cushion. A couple of big camping-style water jug will do nicely, but also have a few smaller bottles on hand in case you have to move. You might also want water purification tablets in case your water supply runs out.
• Preserved Food - A supply of canned and dried foods will help feed your family. Pasta and rice work well and are easy to prepare. You might also want tea, sugar, salt, and other staples. Don’t forget a can opener!
• Blankets - They’ll keep you warm and offer some protection from the elements.
• A portable stove and fuel - A camping stove with a small propane tank will let you cook your food and boil water. You may also be able to find a small heater to attach to your fuel tank.
• Matches - And lots of them! A lighter or two as well, if you want to be fancy.
• Candles - A candle provides light and also gives off heat. You’ll need both to survive.
• Cookware, cups, plates, and utensils - I like camping cookware because it’s durable, easy to clean, and stores easily.
• A good knife or multi-tool - For cutting, opening, and repairing.
• A good first aid kit - Not just small bandages, either. Medical attention may not be available in an emergency, so make sure you’re prepared.
• A change of clothes - You don’t need anything fancy, just a change of clothes for each family member. This may also include hats, mittens, boots, etc.
• Radio and batteries - You’ll need to know what’s going on in the world, and it also provides some entertainment. There are also some nifty crank-powered radios that eliminate the need for batteries.
• Flashlight - Candles work well, but aren’t always practical. Make sure you have batteries, or get a crank-powered LED flashlight.
• Garbage Bags - They can be used for storage, to keep dry, or even for garbage disposal!
• Copies of Important Documents - Most importantly, your IDs, passports, health cards, and insurance policies.
• Currency - If an emergency strikes, ATMs and credit cards may not be of much use. Keep a stash of small bills to make sure you’ve got some buying power. If you’re really keen (and paranoid), mix up the currencies as well- half Canadian, half US$.
• Special Medications - If you rely on medications, keep a supply for few days with your emergency kit.

As I go through my list, I’m realizing that it’s very similar to my list for camping trip essentials and I guess in a way that’s pretty much what you’re preparing for- an unplanned wilderness camping trip. You could even give some of your equipment (cooking stove, water jugs, cookware, etc.) double duty as camping equipment and emergency supplies- just make sure you remember to return the items to the emergency kit after camp!

A final point that I’ll make is probably also my most controversial- if you have prepared well, you need a way to make sure your supplies stay yours. Just because you’ve had the foresight to plan ahead doesn’t mean your neighbors or random scofflaws (hey, what a great word!) have done so as well. In a major disaster, there is a good chance that you’ll also see looting and civil disturbance, and you can’t rely on the police to protect you in such a situation. Without getting into the debate over firearms for home defence, I will say that you should at least give consideration to what steps you will want to take to keep your family safe. This may mean a gun, a knife, a baseball bat, a brick on a chain… I’ll leave that decision up to you.

Do you have an emergency kit? Have I missed any important items that I will have to steal liberate from my neighbors?

Photo by John Griffiths.

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Tagged as: disaster, emergency preparedness