How To Prepare Your Budget For Severe Weather

Severe weather

You hear it all the time: be prepared for severe weather and natural disaster. It is much more critical if you live somewhere prone to extreme weather. It could be fire, flood, tornado or a torrential downpour. Severe weather can wreak havoc on a household financially. Some costs, like property damage, are obvious. But if the unthinkable happens, and you become the victim of a natural disaster, you might be surprised by the expenses you could face.

It may seem premature to plan for severe weather, but depending on where you live this may be an essential component of your financial security. Budgeting for bad weather will go a long way to promoting stability and saving you stress during unexpected weather conditions.

Proper Insurance is Necessary

Depending on the circumstances you may incur a wide array of costs associated with natural disaster and extreme weather. These can range from the removal of debris and rubble to much larger costs associated with damage to the structures on your property. Implementing proper insurance may seem like a hefty cost, but it could save you thousands of dollars in the long run.

Cloud Storage for Important Paperwork

If you’ve lost or can’t easily access vital paperwork ranging from social security cards and birth certificates to insurance information, you could experience lengthy delays in getting your insurance claims processed, tardive government financial assistance and so much more. The longer the delay, the more money you will spend trying to get back on your feet.

That’s why it’s important to know where your documents are at all times, stress and disaster risk reduction will make your life so much easier. If you live in an area prone to natural disasters, consider making copies of your most important documents and storing them electronically. There are a variety of different cloud storage methods such as Apple, Dropbox and Google Drive.

Don’t Fall for Scams

If you live in an area exposed to disaster, you’ve probably seen many advertisements for various services such as tree removal, home renovations, and repairs, etc. Do your research about ethical companies to turn to for support in case of emergency. There are many companies out there that will prey on vulnerable people during stressful times like these.

Plenty of homeowners have sadly found themselves in the position of paying for work that was done poorly, or not at all. Consider doing your research about jobs like plumbing and tree removal. It can be extremely helpful if you have a frame of reference for what these costs are under normal circumstances. In such a way you don’t get confronted with excessive costs under duress.

Prepare for Incidental Costs

Your insurance may not cover costs such as hotels or restaurant meals if your home has been stricken by a natural disaster and you are awaiting repairs. It’s always in your best interest to plan for a safe place for your family to stay if disaster strikes.

Experts in disaster say you’ll fare significantly better if you give thought and plan for what might happen if calamity strikes.

Talk is cheap and quick, and if a dangerous situation ensues because of extreme weather, you could be left floundering. Every family can and should discuss where they will meet and formulate a plan in case of emergencies.

Keep Cash on Hand

pig cash box with umbrellaAn important factor of getting through a natural disaster is having access to cash. It is something that often gets forgotten while creating an emergency plan. Chances are if you’re in a community that has been hit by an you’ll need emergency cash. And it is very likely that banks won’t be open and ATMs won’t work.

Make sure you have a direct deposit in place with your employer. It’s also important to have electronic access to your funds. In this day and age, cash in an emergency box is an integral part of living in a disaster prone area. Try to refrain from dipping into your cash box, as you could regret doing this if a catastrophe ensues.

Create a Plan to Manage Medical Conditions

If you or a member of your family use medication that requires refrigeration, prepare a cooler with ice packs in advance to keep the medicine viable. Some medicines may remain stable at room temperature for extended periods of time. In the paperwork you’ve got saved in cloud storage, it would be wise to include details on any prescription medications you or your family members are taking, not to mention health insurance details. Many people forget, and understandably so, their medication and information about it when leaving their home in a rush because of emergency.

In the end, no matter how far-fetched it may seem, budgeting in case of natural disaster and extreme weather will be a lifesaver in the long run. It’s not strange to approach this financial preparation from a survivalist aspect. It is always better to be prepared than to postpone that until it’s too late. You will save yourself and the ones you love an enormous amount of emotional and financial stress by planning.

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