Week 27 (Day 4): Emergency Fund and Contingency Planning
Day 4: Assessing Contingency Scenarios
Take Action
Helpful Tip
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Week 27 Day 4 Action Plan
Today, we focus on practically navigating and assessing various contingency scenarios. Understanding potential challenges and planning for them is pivotal for business stability.
Take Action: Navigating Contingency Scenarios
Identify potential risks or scenarios that could impact your business operations.
Develop a list of strategies or actions to counteract each identified contingency scenario.
Helpful Tip:
Prioritize contingency scenarios based on their likelihood and impact.
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Does it make sense to add an additional buffer in your emergency fund to help offset known risks that are likely to occur?
Until tomorrow, happy financial management!
