They say
hindsight is 20/20 and during this pandemic, many people are realizing how true
that is. We’ve always known how important it is to have an emergency fund but
many people either don’t take it too seriously or just don’t have enough money
to put to their emergency fund.
It’s not yet
too late though. With careful financial planning in Vancouver,
you can still prepare for another crisis. Here are some tips on financial
planning in Vancouver that can help:
1.
Automatically
put money into your emergency fund
If you
manually deposit money to your emergency fund, that extra money being taken
away from your hands will hurt. There are days when you might be tempted to use
that money. But if you automatically set your account so that it puts a portion
of your salary in your emergency fund, you won’t even notice. Before you know
it, you have already built a substantial emergency fund.
2.
Be
liquid
It’s still important
that you have cash to turn to. It’s hard to liquidate assets in the middle of a
crisis so be sure to put money in your savings account.
3.
Have
an exit plan in your investments
If you have
investments, you should develop an exit plan. What are you going to do with
your investments when there is a crisis? Talk to your financial planner to know
what exactly you need to do.
With the help
of financial planners from Chalten Fee-Only Advisors LTD, you should be able to
come up with a plan that will help you prepare for a crisis.
For More
Details click here https://goo.gl/maps/BFujzZ5hY4E8NoPB9
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