With all that’s going on in the world and at home right now, I think one aspect that is really being highlighted is how resilient we are – or aren’t.
Do we have enough flexibility in our lives to make changes and carry on without too much upheaval? Do we have enough savings in reserve to manage a loss or decrease in income for a few months without fearing homelessness or financial crisis? Do we have the creativity to think differently and find solutions to any problems we’re facing? Do we have the mental fortitude and the support team to stay strong and on track? Do we have the insightfulness to notice when someone else is struggling and do we have the ability/desire to reach out to help?
For some, now is a really challenging time. For others, it’s almost business as usual. For most of us, we’re somewhere in the middle of the two extremes.
For me, the thing that has really been highlighted is the importance of financial security. The importance of savings.
Buying a new car, a new outfit, an expensive pair of shoes or a fabulous fancy dinner are all great things to do. But saving money for a rainy day, or a pandemic, is even better. Reducing your home loan as fast as possible is a fabulous idea. Reducing credit card debt ASAP is the best idea ever.
So how financially resilient are you?
If you’re doing well, congratulations! If you’re not, please reach out and we can discuss options to re-finance, reduce debt or ideas to improve your financial management and increase your ability to save.
If you want to discuss borrowing for a home loan or investment property, please get in touch.
We’re always happy to help and there’s no time like now!