TALLAHASSEE, FL. — We’re less than a week away from Hurricane season, which starts on June 1st. Forecasters are predicting an above average number of named storms.
While you should have your extra batteries, bottled water and even generators on standby, many people forget about being financially prepared.
According to a recent Wells Fargo survey, 71% of people don’t have a detailed emergency plan.
Here's the No. 1 thing families can do to prepare: "Ironically even having a little bit of cash at home," said Damien Haitsuka, who is the Wells Fargo Regional Banking Director for North Florida. "Like a few hundred dollars at home. Just in case systems are down. But in total about three to six months of your expenses in a savings account to prepare and kind of carry you through."
Wells Fargo says the best way to work up to having three-to-six months of savings is to start by paying yourself first.
One way to do that is by automatically having 10-percent of each pay check go directly to your savings account.
Other tips to be financially prepared for Hurricane season:
- Gather key documents.
- Protect your credit.
- Review your insurance.
- Gather key documents.
- Take a virtual inventory.
