Economic Resilience in Health Emergencies: Financial Planning Strategies for Individuals

Abstract

Health emergencies, such as pandemics and natural disasters, pose significant challenges to individuals' economic stability worldwide. This paper examines the concept of economic resilience in the context of health emergencies, focusing specifically on the financial planning strategies adopted by individuals to mitigate adverse economic impacts. Drawing on empirical data from TS, this study employs a mixed-methods approach to explore the types of financial strategies individuals employ, the factors influencing their decisions, and the effectiveness of these strategies in enhancing economic resilience. Findings reveal that while savings, insurance utilization, and income diversification are commonly used strategies, their effectiveness varies based on socio-economic factors such as income level, education, and access to social support systems. The study underscores the importance of targeted interventions and policy measures to enhance economic resilience at both individual and community levels during health emergencies. By understanding and promoting effective financial planning strategies, policymakers can better support individuals in building resilience against future health crises.