6. Emergency Preparedness:
Emergency Fund: Establish an emergency fund for unexpected expenses
Insurance: Learn about different types of insurance and their importance
Financial Resilience: Prepare for financial setbacks and crises.
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Financial literacy is a crucial life skill Equip yourself with these six money lessons you need to learn before turning 18:
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Similar ideas to 6. Emergency Preparedness:
Create an Emergency Fund
You can't predict an emergency, but you can prepare for one. The best way to do so is to set up an emergency fund of 3-6 months of living expenses.
Common financial emergencies include job loss, natural disasters and car, house and health issues.
Create an Emergency Fund
Create an emergency fund to avoid the need to turn to debt.
Think about what makes sense for your financial situation.
Define what your emergency fund is
Your first step is to figure out what counts as a true emergency.
Not all emergencies can be predicted, but many can. Car repairs, medical expenses, higher-than-normal bills. Even having a list of things that you can and cannot spend an emergency fund on can help you stay on track a...
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