Family funds in emergency situations

[Good-Person]

It is very neccessary for organisations as a matter of urgency from time to time come up with measures to cut cost inother to save the organisation from going bankrupt and fold up.

It would be really hard for such kind of organisations to cut the cost. This is because they must maintain the quality of the product. Otherwise, they may even lose the customers as well.

 

[Genie01]

I believe that it is not going to be very chaotic using family funds for emergency situation.
The easiest way to go around it is to create a budget with rainy days in mind.

 

[tyrim88]

It would be really hard for such kind of organisations to cut the cost. This is because they must maintain the quality of the product. Otherwise, they may even lose the customers as well.

well when i am talking about the issue of cutting cost it does not mean to reduce the quality of the product while saving cost,some expenses that are not very essential should be forgo.

 

[eenya00]

S

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.

It is not a wake up call to take saving very important as saving does not gaurantee that you would become financially stable as it could even become counterproductive

 

[Agbalagbaa]

Life is not without challenges and the ups and downs of life predisposes us in a condition we are despirately in need. I don't think it is bad using family funds for emergencies.

 

[Good-Person]

I believe that it is not going to be very chaotic using family funds for emergency situation.
The easiest way to go around it is to create a budget with rainy days in mind.

Family funds are helpful for family members during emergency situation. I think these funds are the kind of funds that each and every kind of family member saves for emergency situation faced by the family.

 

[Genie01]

Family funds are helpful for family members during emergency situation. I think these funds are the kind of funds that each and every kind of family member saves for emergency situation faced by the family.

Making a provision for such type of arrangement is necessary and would help the family greatly in cases of emergency. It can be achieved by making individual contributions.

 

[Good-Person]

Making a provision for such type of arrangement is necessary and would help the family greatly in cases of emergency. It can be achieved by making individual contributions.

Yes, individual contributions may certainly help. However, there comes times when an individual is simply not able to contribute due to conflict in the family many times.

 

[Shigobad2020]

Truth be told , if at all I lost all my means of livelihood and survival today , I won't be able to make it for just a month month that's why i keep working hard to have enough money in my reserve fund just Incase of emergency .

 

[Good-Person]

Truth be told , if at all I lost all my means of livelihood and survival today , I won't be able to make it for just a month month that's why i keep working hard to have enough money in my reserve fund just Incase of emergency .

I must say that you may not be the only person who may have this problem. I think that almost all the people will face issues for sure if they lose their source of income.

 

[Nomad]

When I am in financial crisis, my siblings and parents will always come forward to help me. This has happened to me multiple times. I also reciprocate the same.

 

[Grant]

I think things would be good, but I only have a limited budget in case of emergencies. So I would either need to find an alternative job fast, or find some way to get paid.

 

[Abigael]

Those are very good questions to ask ourselves while working. They will prompt you to adopt a saving culture for such times. Also it may be good for you to get used to having a side hustle that you can fall back to when you lose your main job.

 

[Good-Person]

I think things would be good, but I only have a limited budget in case of emergencies. So I would either need to find an alternative job fast, or find some way to get paid.

Well, in case of medical emergencies, you may need to save a lots of money because medical expenses could be incredibly huge. In some cases, it is unthinkably huge.

 

[Trey]

That's why it is always advised that more than one person should be working in a family at a time. It would be easy to financially manage this kind of situations if everyone is financially buoyant.

 

[Jonaville]

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?

It is very good to come from a family that will help you out whenever you lose your job or they should be able to save up money for you so that you can start your business

 

[linux.poet]

I like the idea of having a family emergency fund. Something to keep in mind for the family I intend to start. Unfortunately, this won't work for the family I am leaving, as that family is more interested in hanging the children out to dry financially rather than supporting them in the event of an emergency.

Despite this, my family would survive quite well without any income from me. They have ample savings and my father and brother still work. I only have to think about my own finances, which is a blessing, I suppose.

 

[Good-Person]

There are many people who may not have the right amount of money to deal with emergencies and this is why they take loans. They actually get stuck and keep sinking in a pool of quicksand. They take more loans in order to pay the previous loans. This is a cycle people must always avoid.

 

[akinlolu99]

In reality, family reserves aren't what somebody shouldn't depend on in spite of the fact that they can conceal unexpected conditions like a cutback of employment, mishaps, and a few horrible occasions. However, the family ought to remain monetarily stable regardless of whether a party can assist with pooling reserves together.

 

[Good-Person]

I think things would be good, but I only have a limited budget in case of emergencies. So I would either need to find an alternative job fast, or find some way to get paid.

Unfortunately, finding a job immediately may not be the solution when it comes to getting in the case of emergency. You may need to borrow interest-free loans in order to get enough money to deal with the emergency situation. You may need to pay the loan back and you could do that by getting a job and paying the loan after saving enough money.