Is this one of your goals for 2009?

Hopefully one of your resolutions (or goals, as we discussed in yesterday's post) is to have a business and/or home inventory. Whether you choose to do it yourself, or hire a professional service to document your personal property for you, I strongly encourage you to put this on your list for 2009.

You already have an inventory? Great! But there are a couple things that go along with the initial task. Just creating the document, then letting it sit for years gathering dust, is not enough.

1. Update your inventory regularly. If you do it as you purchase or discard items, it will always be current. Or, choose to update it once a year. Pick a time that you'll remember. During the holidays, when you receive most of your new items, that might be the perfect time. Or possibly your birthday. Whatever you choose, remember to keep your inventory up to date.
2. Keep it off site. When people tell us that they have an inventory, we usually ask where it is. They smile proudly and say "right here in my desk drawer". Make an extra copy and give it to a friend or relative - preferably one who doesn't live next door! Reciprocate by keeping a copy of their inventory for them. Other options are to rent a safe deposit box or keep it locked in a file at your office (if you're not home-based, that is).

Three steps to ensuring that you'll recover properly from a loss. Create, update, store off site.