Climate Change has Americans Worried About the Future – Inflation Has Them Worried About Today
The new Debt.com poll shows that most adults expect to pay more for an increasing number of hurricanes, floods, earthquakes, wildfires, and blizzards.
FORT LAUDERDALE, Fla. – The poll of more than 500 Americans shows nearly 9 in 10 “expect the United States will be hit with more natural disasters over the next five years.”
Most (60 percent) blame climate change for more natural disasters, while a third blame “the planet’s natural cycles” and 6 percent chalk it up to “bad luck.” More than 80 percent say they will prepare for a natural disaster this year, while only 59 percent said the same last year.
“Inflation isn’t just making it more expensive to prepare for a natural disaster, it might be convincing Americans to just forget the whole thing,” says Debt.com chairman and CPA Howard Dvorkin. “Just like Americans who fall behind on their credit cards or student loans, at some point, you become so discouraged, you tell yourself, ‘Why bother?’ Well, whether you chalk it up to climate change or something else, more storms are coming. So you need to protect yourself – and it only costs a few dollars.”
With inflation woes growing, 35 percent of respondents said they had to rely on credit cards to recover from a natural disaster in the past. With interest rates rising, Dvorkin says this could be a more prevalent issue in the near future.
When Debt.com conducted this poll last year, most Americans said they spend between $50 – $200 on disaster preparedness. In 2022, 68 percent of respondents expect to spend more because of inflation.
Supplies people will spend on this year:
- 33% bottled water
- 28% food
- 16% batteries
- 13% generator
- 10% gas
More than half expect to spend between $50 and $100. Nearly a quarter expect to spend between $100 and $200 and the remainder of respondents (34%) expect to spend between $200 and $500 to prepare.
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