Tips for a Financial Crisis

Updated 1 year ago

Finance may be fun, but sometimes life can be unexpected or just really hard. If you face a major illness your family could face some serious financial problems. Here are a few ideas that may help in this crisis.Plan- some financial institutions refer to it as Plan B. Plan A is that life will be great and no one will become injured or hurt. But what if things don’t go according to the plan? Thinking about what to do is something. But actually planning is better still. Have the conversation!Insurance- Major medical insurance coves part of the medical expenses of any hospital care you might need. Worker’s comp is income replacement insurance if you are injured while on the job. Disability insurance may be offered at your workplace and it would provide income replacement if you are hurt outside of work, in the course of working around the yard, playing in summer or winter, working on the car.Face the reality- Whatever problem has occurred, face it head-on and begin piece by piece to get control of your life and then your finances. Set priorities – LIFE is the most important gift, the bills need to be paid but get life under control. Make a budget for the additional expenses. Let folks know what you need. It will be okay. You will get through this. Many other people in this community have lived through tough setbacks and have got back up. You have people who love you, folks who are cheering you on and you are strong! Citations:Plan Bhttp://moneyning.com/money-stories/how-to-recover-financially-from-a-life-upheaval/Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com Vote Norumbega Financial for Bangor’s Best Financial Planning Firm at Market Surveys of America In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated.


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