Definition
The ability to recover from financial setbacks through effective planning, saving, and smart decision-making.
What to consider
- Develop a plan to bounce back from financial setbacks.
- Build savings and diversify income streams for security.
- Review your strategy periodically to strengthen your defenses.
Real world scenarios
- Following a sudden job loss, Laura’s careful planning and emergency fund demonstrated her financial resilience, helping her stay afloat until she found a new position.
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