Preparing a Financial Budget for Natural Disasters : PaydayWichita

Natural disasters are events that we can never predict, but they can have a long-lasting impact on our life. Today we are going to discuss how to prepare for such an event and be financially prepared.

Much like your local government, there are few instances where it is possible to plan for the financial impacts, especially for high-frequency natural disasters like snowing. You can keep aside some money every month to prepare yourself for the inevitable winter.

Preparing a Financial Budget for Natural Disasters PaydayWichita

Preparing a Financial Budget for Natural Disasters PaydayWichita

On that note, we have compiled a list of things you must be prepared for financially before a natural disaster strikes, so without further adieu, let’s get started.

Create an emergency fund

We always emphasize the importance of having an emergency fund to get you out of dire financial situations. But unfortunately, according to a survey conducted by Bankrate in 2019, 28% of Americans do not have a fund for their emergency needs. As many financial experts and entrepreneurs like Mark Cuban insist, you must have at least four months of expenses saved into your account. This is money you will forget and only spend it in case of dire needs like a natural disaster. If you are starting out and in the process of creating an emergency fund, you first need to list down all your regular expenses like rent, food, and utilities.

Taking natural disasters into account, you should set aside around $2000 – $6000 to buy emergency supplies like food, generators, fuels, and other essentials.

Then save the money on a separate checking account to ensure that you don’t take the money out for your everyday needs. You can also keep the money in special accounts that do not allow you to withdraw money for a certain period without penalty. They also offer a high-value interest rate to encourage you to save even more.

Now, we do understand the inconvenience of creating a fund. You can try putting aside a small sum of cash every month. You can also take part in a small side hustle or work overtime for the money. It won’t be easy to start, but slowly you will get there.

Prepare a financial survival kit.

During sudden natural disasters like an earthquake or tsunami, it is vitally important to evacuate your home as soon as humanly possible. For that, you must be prepared and create a bag containing all your essentials. Your goodie bag may contain

  • Your checkbook and banking account details so that in case of urgent need, you can continue all your banking works
  • You’re at home cash; it is a good idea to have some money on hand during a disaster as you may not have access to atm or electricity for a few days.
  • Credit card, again in case you need to withdraw cash and for your safety.
  • Original documents of your property and identification number and birth certificate of everyone in your family.
  • Any legal documents like your rental deeds or vehicle registrations.
  • And most importantly, all your insurance papers.

These documents will help you financially to get back on your feet after a natural disaster. You will also need a default survival bag with dry food, water, food for your pet if you have one, and any other miscellaneous essentials you may need. Here is a link to a government website to prepare you better.

Importance of insurance 

If you are a regular reader of our blog, you will know the importance of preparing the perfect insurance for your needs. Please note that not all insurance companies cover loss for natural causes. So, please check your policy and coverage. We understand that the premium of such insurance will probably be higher and may cause some inconvenience when you want to pay it off. But, trust us, it will help you so much during a dire cash crunch.

Budget to repair your house

And finally, it is essential to budget the repair cost that you may be subjected to in a natural disaster. We recommend disaster proofing your house, especially if you live in an old house, to save on renovation costs later. It is also good to have a roof and home inspection by experts before the disaster season starts.


You need to be financially prepared in case of a natural disaster. With proper budgeting and saving, you can be better equipped. But, even with such precision, it is possible that you may be subjected to steep costs and also have financial issues after the aftermath of the disaster. So to help you better prepare for any sudden cash crunch, you may consider taking an affordable payday loan. Payday Loans in Wichita KS are short-term loans that require no credit checks. It is easy to apply online for cash, making it fast and reliable. You do not have to apply with a ton of documents either; all you need is proof of employment and a bank account, both of which you should have in your financial survival kit. Payday loans also do not require collateral. This means that you don’t have to put up anything to secure the loan. The loans can be paid off in as little as a month using your next paycheck. Payday loans are short-term solutions to financial problems. Payday loans should not be used to solve long-term money problems. Taking multiple loans or not paying your debts on time will put you in dire straits.

You can use this infusion of cash to get any urgent repair done or get you back to your everyday life after a disaster. We are certain that you will have your finances in check even during a national crisis with these fantastic tips. Always remember there is nothing more important than your life and always take necessary precautions. We want to end the article by requesting you to comply with any warning issued by your local government. Thousands of people die each year for not evacuating their houses. We understand the financial aspect, but nothing is more important than your life, so please do not risk your life or the life of your loved ones.

We would love to hear back from you; share your comments on how you would prepare financially for a disaster. Let us know in the comment section.

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