How to use Savings Month to build financial resilience

BUILDING financial resilience requires effective financial planning, which in turn helps you meet your financial goals. However, this also comes with the responsibility of being disciplined and being prepared to learn and unlearn what you know about finances and money management.

- HIMAL PARBHOO

Savings month presents the opportunity to help you understand that saving and setting financial goals is not as difficult as it seems it just requires discipline and commitment to balance shortand long-term planning, which helps you to be in a better position to meet your goals. Saving is not just about putting away money for rainy days; it's about gaining peace of mind and flexibility to weather life's uncertainties while working toward long-term prosperity. This savings month, take the time to balance your financial planning and goals, which can help you achieve the financial resilience and savings growth you need.

Achieving financial resilience doesn't require one to have a massive salary. It starts with planning and consistency. When life changes, it’s important that you also reexamine your savings strategy to align with your current life circumstances. A simple financial checkup twice a year can make a huge difference.

Steps that one should consider to help evaluate whether you are on the right track this savings month: