The coronavirus has changed many people’s financial circumstances quickly. There are steps you can take if your income has decreased suddenly. But do you and those you care about have plans in place should one of you become unable to manage your finances? Here are some things to help you answer that question.
Who handles the finances in your family?
If you’re the money manager of your household, would your partner be able to manage the budget and bills without your guidance? If you don’t usually handle the finances, would you know where to begin? We have six questions you and your spouse can answer together. How you answer the questions will show how prepared each of you is to handle the family finances. Your responses will also give you a checklist of information to share if one of you doesn’t pass the test.