Smart Money Podcast: Cost of Climate Change: The Big Picture – NerdWallet
Climate change is not just some distant future event, it is already impacting our daily lives and our finances. The relationship between climate change and personal finance is complex and multifaceted. The effects can be seen in everything from rising grocery and energy bills to the cost of home insurance and the value of real estate.
In this episode of NerdWallet’s Smart Money podcast, the host, Caitlin Constantine, delves deeper into the topic with Nerd Spencer Tierney. They discuss the wide-ranging macroeconomic impacts of climate change, including a White House estimate that puts damages from climate change in the US at about $120 billion a year. They also examine how climate change is expected to impact the cost of health care.
The episode also explores how climate change is affecting mental health, with a rise in patients dealing with “eco-anxiety” and the increase in climate “doomerism.”
The episode features an interview with Dr. Thomas Doherty, an Oregon psychologist who specializes in climate-related therapy. He shares tips on how to reframe negative thoughts and embrace a more resilient attitude towards the future.
Related Facts:
– States that are experiencing severe weather and wildfires are also seeing issues with their home insurance markets.
– People often overlook the importance of home insurance and are not aware of how it can protect them from financial loss due to natural disasters.
– Climate change is making groceries, energy, and health care more expensive.
Key Takeaway:
Climate change is not just a problem for future generations to solve; it is already affecting our daily lives and our finances. It is important to be aware of the ways in which climate change is impacting our financial bottom line and to take steps to mitigate its effects.
Conclusion:
As the effects of climate change continue to unfold, it is essential that we take the necessary steps to prepare ourselves financially and emotionally. By understanding the various ways in which climate change affects our lives, we can make informed decisions about our finances and do our part to mitigate its impacts. The intersection of climate change and personal finance is complex and multifaceted, but with awareness and action, we can work towards a more sustainable future.
