Building financial resilience is essential from "summary" of Dhan-Sampatti Ka Manovigyan (The Psychology of Money - Hindi) by मॉर्गन हाउज़ल
Financial resilience is the ability to withstand financial shocks, such as losing a job or unexpected expenses, without significantly impacting one's financial well-being. It is like having a safety net in place to protect oneself in times of need. Building financial resilience is crucial because it provides a sense of security and stability in an unpredictable world. One way to build financial resilience is by creating an emergency fund. This fund acts as a cushion against unexpected expenses, such as medical emergencies or car repairs. Having an emergency fund can help prevent individuals from going into debt when faced with unforeseen circumstances. Another asp...
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