Articles

What is financial resilience?

Financial resilience refers to a longer- term approach in your ability to endure events that impact your income or assets.  For example, being financially resilient means that if an unexpected financial problem arose (such as job loss), you would have the means to cope with it.  For most people this means preparing a budget that you stick to long-term, and often means saving for a rainy day.

Here are three tips to support your financial resilience:

What is resilience and why is it important?

Resilience is what gives people the emotional strength to deal with hardships in their lives.  Resilience is important – resilient people use the resources around them and their personal strengths and skills to work through challenges and overcome hardships.  Improving our resilience can improve our ability to respond to financial stress and improve our financial resilience.