Could you pass a personal finance stress test?

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How to stress-test your money

A personal finance stress test takes a holistic view of your finances to make sure you’re not only financially stable but able to handle almost anything thrown your way.

1. Determine your monthly required expenses and your income

You might want to distinguish between different types of expenses: fixed expenses, flexible expenses and discretionary expenses

2. Check your emergency savings and other liquid assets

Having an emergency fund gives you the peace of mind to know that should something truly awful happen, such as losing your job, you can worry about how to deal with the emergency itself and not worry about how you’re going to survive financially.

3. Determine your unemployment benefits and your insurances

When you are busy living life and working towards reaching your financial goals, the last thing anyone ever anticipates happening is a home burglary, car accident or sudden loss of a loved one.

4. Look at your worst-case-scenario

Try the conditions that push you into crash mode and how you cope or recover from that. We work with macro scenarios and idiosyncratic events

Stress your finances!