These are truly uncertain times—for your physical as well as financial well-being. Taking precaution is all you can do when it comes to shielding yourself from the covid-19 or novel coronavirus.
The same is true for your financial health. At a time when the threat of job loss has become real, all you can do is take precautionary measures to safeguard your future.
A key step towards this is revisiting your emergency fund or putting one in place if you don’t already have one, besides taking adequate insurance.
Emergency funds are highly liquid investments or cash which you can access at short notice. The rule of thumb, according to conventional financial planning, is to have emergency funds worth at least six months of expenses.