NewsSarasota, Manatee County


How to stay financially smart and safe while preparing for a hurricane

Posted at 7:19 PM, Aug 29, 2019
and last updated 2019-08-30 07:24:06-04

SARASOTA, Fla. -- As many prepare for Hurricane Dorian, for some people it's not only stressing their minds but also their bank accounts.

"The average working family or working person does not have enough money set aside for emergencies," said Kaleb McCarty, a financial advisor at Truvestments.

McCarty says the average person spends $200 on general supplies for a category one or two hurricane, and $300-$600 for a category three to five.

He says that's why it's important for families to have an emergency fund.

"We live in Florida, where the possibility of hurricanes are high each year. So I people should set aside up to $1000 each year to prepare for the cost," said McCarty.

McCarty says if you can’t afford big-ticket supplies like generators, see if you can ride out the storm with friends or family who can.

"A lot of people like to have hurricane parties, to get together and help in sharing those costs," said McCarty.

McCarty also says to take pictures of important documents like living wills, passports, and titles so there is a digital copy and to story it in 'the Cloud' in case they get destroyed.

He says to make sure you can afford the supplies you buy.

"You don't want to go overboard, you want to try and stay within your budget," said McCarty.