What would a sudden financial emergency be in your life? It could be a storm causing massive property damage to your home. It could also be something more personal, like an accident that would cut off your ability to make a living.
Whatever it is, if someone else had to step in to help you in an emergency situation, it’s important to have a plan in place so they know what to do.
A financial emergency kit is a crucial component in financial planning. In short, a financial emergency kit involves identifying and planning for potential financial emergencies that could affect you and your loved ones. Building a successful one goes beyond sorting paperwork – it involves looking at a variety of potential situations in your life and then asking, “What’s the worst that could happen?”
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