PUBLISHED APR 16, 2019

How Climate Change Can Affect Your Wallet

It’s not just rising temps and more intense natural disasters. Your wallet can also feel the heat because of climate change. Here’s how: 

Insurance
. If your home is damaged by a natural disaster, you’ll be asking your insurance company to help you pay for it. Which means if climate change causes certain areas to have more severe natural disasters, insurance companies will have to start spending more money. The person who pays (with higher premiums) when insurance companies have higher costs is most likely...you.

Food pricing
. Unstable weather could eventually decrease the amount of produce and meat available in the US. Econ 101: Lower supply and higher demand = your food budget could get a lot bigger.

Your electric bill
. Higher temps means more sweating...unless you crank up the AC. And when everyone turns up the AC, it puts more pressure on the electric grid. Which could cause your electric bill to go up.

theSkimm: The environment isn’t the only thing that’s going to pay for climate change. The good news? Small changes in your routine can make a difference and save you money. Limit your water usage. Switch to energy-efficient light bulbs. Bike, carpool or take the train to work. Captain Planet (and your finances) will thank you. 

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