I am not talking about graduations or vacations, I am talking about Hurricane season! Here is a question I recently received:
With hurricane season upon us should people have more than a month in emergency funds?
The answer is YES! I talk constantly about having cash reserves, hurricane season is one of those times where you need cash on hand. I believe you should have about $2000 in cash in a safe place in your home. When the power goes out, and it will, as things start opening up on generator power, you will be able to buy food and water if you have cash. If your local gas station is open but they do not have internet access, you cannot use your credit card. Cash will be king.
While you’re thinking about hurricane season, look at your supply of batteries, canned food – make sure you have a can opener, paper products, and make sure all of your important papers are protected from water and easily assessable.
If you are prepared, you will not panic.