Building a family financial safety plan
5 chapters·14 min·action plan·mastery check
Chapter 1 of 5
The idea
A household safety plan is five things. Most families have two.
The five pieces
1) An emergency fund of 3–6 months' essentials. 2) Income protection. 3) Life cover if others depend on you. 4) A will and up-to-date nominations. 5) A shared note of accounts, policies and passwords kept safely.
Predict first
For a family with one main earner, a sensible emergency fund is closer to…
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