What does it mean to be financially resilient?

EXPECTED READ TIME: 1 MINUTE

Financial resilience is understood as the ability of an individual or household to withstand life events that impact their income and/or assets.

Events such as job loss, unexpected illness, and divorce to name a few all have a significant impact on our finances. Would you be able to cope financially if you experienced such events?

It is important to be aware of what financial resilience is, and how financially resilient we are, in order to withstand situations that may put a strain on our monetary resources. We are here to explain how you can improve your own financial resilience so that money is not a problem, but an opportunity!

How financially resilient are you?

When it comes to financial resilience, there is no set method or amount of money which will guarantee you are prepared for any event. However, getting into the right habits now and taking small steps can lead to you being prepared for whatever life may throw at you.

  • The information provided in this article is for guidance and educational purposes only. Police Credit Union Ltd. does not offer regulated financial advice. Please seek independent financial advice.

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How to improve your financial resilience?

Download our Financial Resilience Report 2021

Watch our Financial Resilience YouTube video!

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