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1 results

  • The Proximity of Disaster Experiences and Financial Preparedness for Emergencies in the US

  • Guanggang Feng, Zhen Cong
  • Journal:
    Disaster Medicine and Public Health Preparedness / Volume 17 / 2023
    Published online by Cambridge University Press:
    13 December 2022, e257
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  • Objective:

    This study investigated how the proximity of disaster experience was associated with financial preparedness for emergencies.

    Methods:

    The data used were from the 2018 National Household Survey, which was administered by the Federal Emergency Management Agency. The working sample included 4779 respondents.

    Results:

    Logistic Regression showed that the likelihood of setting aside emergency funds tended to be the highest between 2-5 years after experiencing a disaster, which declined slightly but persisted even after 16 years. Recent disaster experience within 1 year did not show a significant impact, indicating a period of substantial needs. However, the proximity of disaster experience did not significantly affect the amount of money set aside.

    Conclusion:

    It is suspected that increased risk perception related to previous experiences of disasters is more relevant to the likelihood of preparing financially; whereas other capacity-related factors such as income and having a disability have more effect on the amount of money set aside.