Seeing the words ‘financial preparedness for hurricanes’ together in a single phrase might feel as unwelcome as the hurricane period. We know this might not be the most exciting topic. Nevertheless, the development of Hurricane Beryl, a category five hurricane at one point early in the season, only serves to remind us that four more months are left in the season and there are important steps we should take to ensure our financial stability in the face of a hurricane. So, grab your umbrellas and let’s explore some practical financial tips to weather the storm together.

CASH IN HAND: We get that most of your financial transactions are done with a tap or swipe, it’s the price for going digital. But during a hurricane, try to keep some cash on hand in case of disrupted banking services or power outages.

CREATE A GRAB-AND-GO BAG FOR YOUR FINANCIAL DOCUMENTS: In the same way that you pack all the essentials for your flight – your passport, or IDs – create a bag or safe box that you can easily grab for your finances in case of a hurricane. This could include important financial documents like insurance policies, property deeds, account information and your ID. Plus, make sure your grab-and-go bag is waterproof.

PLAN YOUR EMERGENCY EXIT: Set aside funds specifically for evacuation expenses such as transportation or gas, temporary accommodations, and emergency supplies. Knowing that you have financial resources available to evacuate safely and quickly, when necessary, can provide you with peace of mind.

RE-EVALUATE YOUR RENTAL ARRANGEMENTS: This is an important part of financial preparedness for hurricanes. If you’re a renter, remember to review your renters’ contract or policy to understand what is covered in the event of hurricane damage. See if you have adequate coverage for your property as this can help you plan for potential financial losses much better.

Remember, it’s possible to enhance your financial resilience in the face of a hurricane, and it’s not just about safeguarding your assets; it’s also about safeguarding your peace of mind and financial well-being during a challenging time. You’ve made it to the end of our blog, so let’s now talk in person. Touch base with us HERE and schedule an appointment.