We all have training at one point of another on how to respond to a state of emergency, such as bad weather or environmental threat, but not many of us were trained on how to create a financial emergency kit to save our financial records and personal identity in an emergency. As a student, you need to keep, in a secure location, a permanent file that holds most important documents such as social security card, passport, birth certificate, car title, and all other documents deemed necessary for your identity and financial records. This financial emergency kit should be secure but accessible to you in case of evacuation or an emergency
Establish your own emergency fund as a student independently from your parents. This saving habit forming will serve you well for the rest of your life as you will always maintain a certain level of financial security. On average, an emergency fund should equal between 6-9 months of your personal expenses.