Family funds in emergency situations

[Heatman]

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?

My family with definitely not have anything to worry about should I lose my job tomorrow and not even be employed for the next five years. This is because we already have a family business which my brother and my father together with my mother already managing for themselves. It is an auto spare parts company that have been in the family for years.

 

[Good-Person]

My family with definitely not have anything to worry about should I lose my job tomorrow and not even be employed for the next five years. This is because we already have a family business which my brother and my father together with my mother already managing for themselves. It is an auto spare parts company that have been in the family for years.

I think that having multiple set ups can help a family generate many sources of income. This is why many people believe in having more than one streams of income. The condition of global economy is quite bad. Under such kind of circumstances, saving money is important, especially when you need money in case of emergency.

 

[Heatman]

I think that having multiple set ups can help a family generate many sources of income. This is why many people believe in having more than one streams of income. The condition of global economy is quite bad. Under such kind of circumstances, saving money is important, especially when you need money in case of emergency.

This is one of the reason why I decided not to take part in the family line of business so that I'm going to work up another source of income that I'm going to use to support the family in any way that I can. I have done so now and the family business is actually working very well and I also have another source of income which I'm using to support them in ways that I can.

 

[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.

I think that you can also create a strategy that may allow you to save money. Saving money will help you in many ways. If you save more money, then you will be able to have enough money that may help you deal with emergency situations. Having a separate budget for that is very important in many cases. Who knows when you may need money?

 

[Heatman]

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.

Investments is the key to financial freedom and success. There are some money or financial challenges that's going to face you, there will not be any need for worry or panicking because you already know that with pulling out a return from one of your investment, everything will be taken care of.

 

[Good-Person]

Investments is the key to financial freedom and success. There are some money or financial challenges that's going to face you, there will not be any need for worry or panicking because you already know that with pulling out a return from one of your investment, everything will be taken care of.

The main problem with investing money is the fact that people often get confused about when and where they should invest money. They tend to invest in gold and there have been, indeed, many cases where people bought gold and they sold gold when they needed money as they faced an emergency situation.

 

[Heatman]

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.

I completely agree with you on this assessment. When you have many siblings in your family, you shouldn't depend and be looking up to the family's fund. You should make move to source out other means to support the family. The only way you can depend on the family's fund is when you're the only child.

 

[Ja Sa Bong]

My family is in a good financial position. They don't need my financial support to anything they want and they can support me to any level if I decide to ask for assistance from them. I don't show myself as someone who needs financial assistance from my family because it's not how it's supposed to be.

 

[Heatman]

The main problem with investing money is the fact that people often get confused about when and where they should invest money. They tend to invest in gold and there have been, indeed, many cases where people bought gold and they sold gold when they needed money as they faced an emergency situation.

This is why there are investment planners and advisers. They are always available to offer their professional assistance to those who are doesn't know how to get it right with the investments they want to go into. They always help investors to eliminate the possibility of investing wrongly because that means losing the money.

 

[Good-Person]

This is why there are investment planners and advisers. They are always available to offer their professional assistance to those who are doesn't know how to get it right with the investments they want to go into. They always help investors to eliminate the possibility of investing wrongly because that means losing the money.

A person must need to find the right kind of adviser during such times. The advice offered by different kinds of financial advisers could be quite different. So, opting for the right kind of advice is one of the hardest things. Having said that, saving money is the only way a person could do in order to utilise money in case of emergency. Unfortunately, many people are not able to do so as inflation has wrecked their plans of saving money for the future.

 

[Heatman]

My family is in a good financial position. They don't need my financial support to anything they want and they can support me to any level if I decide to ask for assistance from them. I don't show myself as someone who needs financial assistance from my family because it's not how it's supposed to be.

It's actually very good for you to have a family that's very good in their financial position. This is something that's going to take care of so many responsibilities for you that's going to make it possible for you to grow in your own business and financial position stronger as well as faster.

 

[Ja Sa Bong]

It's actually very good for you to have a family that's very good in their financial position. This is something that's going to take care of so many responsibilities for you that's going to make it possible for you to grow in your own business and financial position stronger as well as faster.

I'm very eager to support my parents financially. I'm fine from what I'm paid at work, money from my business and my earnings from working online. Money isn't a problem but because they are better on their own, they are not interested in what I want to give them. It's to save money and buy them a car or a house.

 

[Heatman]

A person must need to find the right kind of adviser during such times. The advice offered by different kinds of financial advisers could be quite different. So, opting for the right kind of advice is one of the hardest things. Having said that, saving money is the only way a person could do in order to utilise money in case of emergency. Unfortunately, many people are not able to do so as inflation has wrecked their plans of saving money for the future.

It's very important to for someone who's working to develop the habit of saving money. When you work but can't save money, you're not that far different from someone who doesn't work because both of you will always be finding it very difficult and challenging to cope whenever you some unexpected emergencies.

 

[Good-Person]

I'm very eager to support my parents financially. I'm fine from what I'm paid at work, money from my business and my earnings from working online. Money isn't a problem but because they are better on their own, they are not interested in what I want to give them. It's to save money and buy them a car or a house.

I am also quite eager to support not only my family members, but other people as well. I have many other goals as well apart from earning money. However, those goals cannot be achieved without money. This also goes true for conditions where we may need to have money in order to deal with emergency situation.

 

[Heatman]

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.

My mentor advised that it's not going to be in your best interest to make all your family to depend on one business. There should be at least 2 or 3 businesses that's owned and managed by the family. This is good in a way that should one of the business is out, the rest can be used to sustain the family.

 

[Ja Sa Bong]

I am also quite eager to support not only my family members, but other people as well. I have many other goals as well apart from earning money. However, those goals cannot be achieved without money. This also goes true for conditions where we may need to have money in order to deal with emergency situation.

My family is my first responsibility. They have sacrificed enough for me, it's why I put them as number one in those I need to support financially. I'm working today, making money and able to fend for myself. I can do the same thing for them and never expect anything from them.

 

[Heatman]

I am also quite eager to support not only my family members, but other people as well. I have many other goals as well apart from earning money. However, those goals cannot be achieved without money. This also goes true for conditions where we may need to have money in order to deal with emergency situation.

With everything that my family have done for me, I have also made all possible attempt to repay them. I also have a special fund that I have been saving for them which 10% of my earning every month goes to. It's the money that is always ready to be shifted to them whenever they have a very serious thing that they need to take care of with money.

 

[Gilead]

I believe this statement to be quite subjective because everyone has a different financial planning strategy that could cushion the effect of any job lose at any point. Personally I can say my family will do quite alright even without a good job for that timeline.

 

[Debashis]

Yes! Even if I lose my job today, we will be able to survive for at least 1 year. Me and my family will be in a good situation for sure. I think 1 year of time is more than enough to find a stable source of income again. Everyone should save some amount every month as a part of their emergency funds so that in crucial times, they don't face many problems.

 

[Good-Person]

My mentor advised that it's not going to be in your best interest to make all your family to depend on one business. There should be at least 2 or 3 businesses that's owned and managed by the family. This is good in a way that should one of the business is out, the rest can be used to sustain the family.

I think that your mentor was right. A person should never rely on a single source of income and a wise person always creates many different sources of income. This is what many people need to do when economy is not in the right position or condition. Many people emphasise on creating multiple source of income. However, it is quite hard to do so.