How to be financially prepared and not let a crisis break you
- Get insurance, and follow it up by building an emergency fund you can dip into without touching your investments
- A common mistake that people make is treating physical assets such as real estate and gold as storehouses for emergency funds
Last week, the newspapers were strewn with images of Jet Airways employees mourning the airline’s shutdown. The shock and trauma writ large on the faces of the 16,000-plus Jet Airways employees, who have suddenly found themselves in the middle of a financial emergency, has a lesson for everyone: to prepare for such a situation.
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