Knowing how to cope with a financial crisis can ease the burden in these times of difficulties. One way to help with this is saving money in a low risk accessible account. We suggest that you set aside at least six months regular living expenses in that account.

Insuring Yourself

Insurance protects your financial assets in times of really big financial disasters.

Did you know that, before you attain the age of 65, you are more likely to miss at least 3 months of work due to disability than you are to die?

Having life insurance can help ease the financial burden if either you or your spouse dies. On the other hand, you may not need life insurance if you do not have dependants.

Borrowing Money

If you must borrow money due to a financial emergency, give careful consideration to the costs and look at all options available to you.

Selling Investments

One way to cope with a financial crisis is to sell investments. It is usually advisable to sell taxable investment first.