While the country and economy have started to reopen, we aren’t out of the woods yet—and it certainly won’t be the last financial crisis we collectively experience. To mitigate the risk of another sudden economic downturn, you should have a financial “disaster plan” in place. Members of Forbes Finance Council share must-haves for your financial disaster plan. Limiting—if not avoiding—debt while also building strong cash savings is paramount to surviving a financial crisis. If you can, try to save up over time to cover three to six months of this “crisis” cash.

Source: Forbes June 11, 2020 12:00 UTC