Get your financial emergency plan in order
Financial emergencies can strike at any time. For some people, the recent coronavirus pandemic is already having an effect on their budgets. Some folks need to stay home from work because they’re sick or caring for loved ones, and others may have had their hours cut due to events being cancelled. That could mean they won’t be bringing in the same amount of income as before. For others, their income might be going towards paying hospital fees from accessing medical care.
We’re not pretending we can offer all of the solutions, but if your budget hasn’t been affected yet, you still have time to prepare for some of these things. And even if you start small, like setting aside a few dollars here and there, or having conversations with your budgeting partners about ‘how will we prepare’, it’s not too late to get started on a financial emergency plan. Here’s how you can get started on yours.
Other ways you can prepare for life’s curveballs:
The Goodbudget Team