Family funds in emergency situations

[Joshua Farrell]

Would your family be in a good situation financially if you suddenly had lost your job? Would you and your family be able to make it for 6 months, if you can't seem to find a job in that period of time?

 

[Holluwaphemmy]

Actually family funds is not what someone should not rely on although it can cover up for unforeseen circumstances like loss of job, accident, and some unfavorable events. But the family should remain financially stable even if a member can't help to pool funds together.

 

[Setho]

You can never be able to predict what is going to happen in terms of health and some hazards so setting up a family emergency fund to cover up for things like this is a wise idea every family should do.

 

[Smiles20]

With the way in which things are going I am not even going to be surviving for more than two months if I am going to lose my job at this time. It is a risky kind of life and that is why I want to diversify my income.

 

[glitch]

Yes, but not for an extended period. I believe we have roughly 3 months of income put into savings right now. This is for a down payment on a house however so once we do buy a home, we will be without anything which is not ideal.

 

[HK World]

Would your family be in a good situation financially if you suddenly had lost your job? Would you and your family be able to make it for 6 months, if you can't seem to find a job in that period of time?

Thanks for sharing this great idea of having family funds especially to save ourselves in an emergency situation. I never heard about it before. It's really a wise decision.

 

[Alogakho Esson]

Every family needs saving against any sudden happenings and emergency of life and unseen circumstances of life which is happening to avoid stress and depression family saving is key and a blessing

 

[Good-Person]

Every family needs saving against any sudden happenings and emergency of life and unseen circumstances of life which is happening to avoid stress and depression family saving is key and a blessing

I do not want to rely on my family, as I rely on Allah Almighty alone. Right now I am trying to earn money and refraining from asking for support from my family. This is why I am emphasising a lot on saving money.

 

[tyrim88]

Actually family funds is not what someone should not rely on although it can cover up for unforeseen circumstances like loss of job, accident, and some unfavorable events. But the family should remain financially stable even if a member can't help to pool funds together.

That is the more reason why it is always advisable for there to be an alternative to the main source of income,because the overdependence on the main source of income will be very detrimental if that source stoped coming.

 

[Good-Person]

That is the more reason why it is always advisable for there to be an alternative to the main source of income,because the overdependence on the main source of income will be very detrimental if that source stoped coming.

i guess that this is why so many focus a lot on having many streams of income. This helps them to diversify things and concentrate on various different things. Having many sources of income is a must.

 

[tyrim88]

i guess that this is why so many focus a lot on having many streams of income. This helps them to diversify things and concentrate on various different things. Having many sources of income is a must.

One thing about human nature is that once a particular source is very much inplace and adequate to take care of some very and extended needs,there will be this content about sourcing for additional source to improve on their earnings.

Every family needs saving against any sudden happenings and emergency of life and unseen circumstances of life which is happening to avoid stress and depression family saving is key and a blessing

That is definitelly what every family that really care about their future should be doing,it will help them to rake out funds intimes of emergencies and this will help them to properlly plan their finances in other areas.

 

[Good-Person]

One thing about human nature is that once a particular source is very much inplace and adequate to take care of some very and extended needs,there will be this content about sourcing for additional source to improve on their earnings.

That is definitelly what every family that really care about their future should be doing,it will help them to rake out funds intimes of emergencies and this will help them to properlly plan their finances in other areas.

Well, the issue is that sometimes you may not be able to help some of your family members or relatives when it comes to helping them financially. We have many relatives who need help, but we are unable to help them due to tight budget.

 

[tyrim88]

Well, the issue is that sometimes you may not be able to help some of your family members or relatives when it comes to helping them financially. We have many relatives who need help, but we are unable to help them due to tight budget.

One of the thing that will make any serious business man to go far ,is his ability to seperate his business operation and activities from the expactation of family members,that way he will go a long way in his business.

 

[Genie01]

i guess that this is why so many focus a lot on having many streams of income. This helps them to diversify things and concentrate on various different things. Having many sources of income is a must.

That's the flex!
Even if one way is clogged up, you won't be affected because the other streams will keep flowing .
It is a great wisdom have multiple streams of income

 

[Bbwoy95]

Absolutely yes because, I Invest in Insurance, Family funds in emergency situations and determine the fund amount i need. Ensuring a disciplined cash management strategy can help determine the amount of funds i can invest.

 

[Nat]

Anything is bound to happen. Hence the nees for emergency funds. It is the basic fund any family should have . For disasters like hospital bills , funeral bills and Medical bills. Even to pay immediate debts.

 

[frederick_9]

Yes because at the moment I can say I am financially stable because I do a lot of investment and Savings and aside the job I do, I have my own shop in which people work for me

 

[Good-Person]

A person could encounter any kind of emergency at any time and he may need funds at any time. This is why it is important to understand the importance of saving money.

 

[HayKay]

Currently no, I've had a lot of expenses recently that has gulped a lot of my savings. Though this thought never ceases to cross my mind as family are the last resort anyone have on this planet.

 

[GoldenLady]

S

Would your family be in a good situation financially if you suddenly had lost your job? Would you and your family be able to make it for 6 months, if you can't seem to find a job in that period of time?

Sadly, I know we would face a lot of difficulties if that ever happens. It's hard enough making it to month end this month without the income we were used to getting.

This is a wake-up call for me to take my savings seriously.