Parenting Playbook | Preparing for Financial Emergencies
Having enough money put aside for emergencies has long been top of the list when it comes to financial planning and advice. But safeguarding ourselves financially has really been highlighted in the past few years.
Georga has asked Ben on behalf of us all how we can go about making sure we have enough money in our emergency fund to ensure our security if unexpected expenses crop up that changes our cash flow situation considerably.
It's not an easy answer, but Ben gets to the crux of it for us.
Have a listen.
Key call outs.
- Have a solid spending and saving plan in place.
- Don't be reactive, stay proactive.
- Split your income into three. Life today, emergency savings, build up your ‘get ahead' money.
- Don't spend ‘in the moment'.
- Create your list of priorities and stick to them.
- Have a pot of money you can rely on, so you don't have to sell investments at the wrong time.
The Care for Kids team is so fortunate to be able to bring Ben's knowledge and understanding of family finance to the forefront of our Parenting Playbook and would love to help you too! If you've got a question you'd like Ben to answer, get in touch with the team and we will forward your question.
Ben Nash. Financial Adviser and the founder of Pivot Wealth, helping people invest smarter so they can create a life not limited by money.
He runs regular live online events which you can check out here. | Follow Ben on TikTok | Linkedin | Instagram |
Pre-order Ben's book, ‘Replace your salary by investing' today!
Disclaimer: The information contained in this article is general in nature and does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it, and where appropriate, seek professional advice from a finance professional.
