Tropical Storm Sara formed Thursday afternoon in the western Caribbean and is headed toward Honduras. Forecasters advised Florida residents to keep an eye on its track.

A newly formed Tropical Storm in the Caribbean could enter the Gulf of Mexico next week as a depression after crossing over the Yucatan peninsula, potentially reducing the chances it could pose a major threat to Florida later in the week.

Tropical Storm Sara formed this afternoon and threatens to bring "life-threatening and potentially catastrophic flash flooding and mudslides" to Honduras throughout the weekend, according to the latest update from the National Hurricane Center. A turn toward Florida is still possible, forecasters said.