Financial resilience is the ability to positively cope with the effects of a financial shock, setback or crisis.
Here are some ways to build financial resilience:
- Begin paying down debt.
- Start a savings account – pay yourself first, no matter how small the amount.
- Create an emergency fund of at least 3 months expenses.
- Keep your expenses as low as possible.
- Keep a realistic budget.
- Continue to learn about finances whenever you can.
By: Brenda Langdon
