The Components Of Financial Resilience

In today's article, I'd like to talk about financial resilience and that's being able to deal with adverse events that create financial pressure or hardship as a business or as an individual.

Now that can be an unexpected expense such as repairs on a vehicle or machinery or equipment.

It can be as an individual, it can be a redundancy and it can be more serious such as illness or a bereavement that can create financial hardship or financial pressure in a business or a household.

So how do you alleviate that?

So the first thing is to have your contingency funds, to have your emergency fund in place and that's to deal with the more short term things like unexpected expenses maybe a car or a machine, potentially redundancy.

For more serious events such as illness and bereavement it's to have an insurance policy in place that will provide a lump sum payment to cover any financial pressures created by a loss of pay or a loss of earnings.

If you found this article helpful and would like to learn more about your financial options, feel free to connect and start a conversation or contact me directly at +353 (87) 778 5325??

?????????? ?????? ???????????????? ?????????????????? ???????????????? ?????????????? ???????????????HERE