Katrina's credit and money lessons

With the one year anniversary of Hurricane Katrina there has been a lot of debate about what lessons were learned. As a society, did we learn the importance of mandatory evacuation? Levy engineering? Rebuilding communities?

And you can't forget some of the personal lessons from Hurricane Katrina. Did your family learn to create an emergency evacuation kit? To keep a supply of bottled water at home? Are your finances prepared for a disaster?

Credit.com prepared several articles about money and emergencies with Katrina in mind. One of my favorites is called "Emergency Preparation." This article details what you can do to make sure your finances are ready for dealing with a crisis. Another great article called "When Bad Things Happen to You" reviews your options for dealing with a financial emergency. And our book on identity theft (available this fall) includes a chapter on protecting your identity during a disaster. Here are a few quick tips from Credit.com:

• Create an emergency savings account. Keep enough saved in this account to cover your housing and basic expenses for a few months.
• Make sure you have access to credit cards. A credit card can help you deal with emergency expenses.
• Put a 90-day fraud alert on your credit report if your home is damaged or evacuated. Identity thieves prey on disasters and this alert could help protect your identity
• Store copies of insurance, mortgage and personal documents in a secure place outside your home, such as a safe deposit box.
• Remember to communicate with your creditors during a crisis. They will often be able to help with your bills and situation.
• Be aware of insurance and aid scams after a disaster. Fraudsters may pose as charity services in order to steal personal data and money from victims.
• Set up online access to your accounts. Being able to check your bank, credit and loan accounts online can be invaluable if you are displaced from your home.

Do you think you are financially prepared for a disaster? What personal lessons did you learn from Katrina? Share your tips and feedback in the comments section below.