How to build financial resilience

Let’s face it—life doesn’t always go to plan. One minute you’re cruising, the next you may be hit with something unexpected: an injury, ill health, a breakup, or worse. These moments can shake your world—and your wallet.

That’s where financial resilience comes in. It’s not just about having money in the bank. It’s about having a longer-term approach to money so you can be ready for whatever life throws your way – being able to financially bounce back quicker and with less stress.

So, how can you go about starting to build financial resilience? Here’s a step-by-step plan.

1. Understand what financial resilience really means

Financial resilience is your ability to handle life’s curveballs without spiralling into financial chaos. It’s not about being rich—it’s about being ready. Think of it as your financial safety net, giving you the confidence to face tough times without your financial situation adding extra pressure.

2. Start with a solid financial plan

You don’t need to have everything figured out, but having a basic plan makes a huge difference. Ask yourself:

• What are my short-term and long-term financial goals?
• Do I have an emergency fund?
• Am I tracking my spending?

Even a simple plan can help you feel more in control—and that’s half the battle.

3. Build an emergency fund (yes, even a small one)

This is your financial buffer. A good target could be to save enough to cover three to six months of essential expenses. Can’t do that right away? No stress. Start small - £10, £20, whatever you can manage. The key is consistency.

4. Boost your financial literacy

The more you know, the more confident you’ll feel. Learn the basics of your payslip, tax, budgeting, saving, investing and credit scores. You could start by downloading our Financial Survival Guide, specifically created for dentists and doctors at the beginning of their career.

Finding time to grow financial knowledge in a fast-paced, busy career can seem overwhelming. It’s okay to start small. Something is better than nothing and knowledge = power (and peace of mind).

5. Set realistic goals and check in often

Being financially resilient isn’t a one-time thing – it’s a habit. Set goals that actually fit your lifestyle and revisit them regularly. Life changes, and your plan will too.

6. Protect your mental health

Money stress is real. Financial pressure can seriously affect your mental wellbeing. By planning ahead, you’re not just protecting your bank account—you’re protecting your peace of mind.

Quick tips to stay resilient:

• Automate your savings so you don’t have to think about it.
• Avoid lifestyle creep - just because you earn more doesn’t mean you have to spend more.
• Don’t compare your financial journey to others. Everyone’s path is different.
• Ask for help. A financial adviser or mentor can offer guidance tailored to your situation.

Final thoughts

You can’t control everything life throws at you—but you can control how prepared you are. Building financial resilience could just be one of the most empowering things you can do for your future self.