are my obligations being met?
Often, we allow ourselves to spend money on the things we want first instead of spending it on the things we need.
In order to live well, we need to provide for things like:
Once your needs are met, you can begin to plan on how to save the money you need to get the things you want.
Contingency Fund (Emergency Savings)
You should also plan to have some sort of contingency fund for things that are not expected such as suddenly going on a medivac or a death in the family, having to pay taxes, costs of broken equipment, a child’s sporting event, etc.
Financial Literacy Activities Funded by the Government of Nunavut Department of Family Services. Content and design produced by the Aqqiumavvik Society (Arviat).