An emergency fund is a must

[Hate2Wait]

In Order to Save Money, we should set up an emergency fund that we can use in a contingency and these sorts of funds do help us in emergency situations like of Covid or any other pandemic.

 

[Bisolami]

In Order to Save Money, we should set up an emergency fund that we can use in a contingency and these sorts of funds do help us in emergency situations like of Covid or any other pandemic.

Ooh that's true
I think I should say that we can separate saving emergency fund from saving for the future
Right?

 

[Carson20t]

I have been researching about this but i need more information to get to understand the smart way to cover my unanticipated bills that may come my way.I do think that money must not sit in your bank without earning a profit but rather should be able to grow.I am into governmen t bonds and securitites and i am reliably informed that bomds and securities can stand as collateral to finance a small financial emmergency Concessional loan.

 

[Hate2Wait]

Ooh that's true
I think I should say that we can separate saving emergency fund from saving for the future
Right?

Emergency fund is a different fund and we should use that only when its like an emergency situation so yes its different from other funds and should be maintained properly or we can use a bank account like that which we will use to withdraw cash only in emergency

 

[Carson20t]

Although we still need to think smart and that includes us to ensure that the money is not sitting in account that it is not generating a profit from but rather the money must build up and generate somne incentive on top of what was initially deposited even if you can swiftly withdraw it from the account to spend on your emmergency.

 

[eldavis]

Indeed having emergency funds is a must, i cant imagine the number of times emergency funds have saved me. I remember when i lost everything in forex trading, i had to fall back to the funds i kept aside.

 

[Bisolami]

I have been researching about this but i need more information to get to understand the smart way to cover my unanticipated bills that may come my way.I do think that money must not sit in your bank without earning a profit but rather should be able to grow.I am into governmen t bonds and securitites and i am reliably informed that bomds and securities can stand as collateral to finance a small financial emmergency Concessional loan.

That's true
That's why we need to invest our money in a business that is very lucrative even if the business is not very much profitable

 

[Carson20t]

That's true
That's why we need to invest our money in a business that is very lucrative even if the business is not very much profitable

You are right that the money must be generating a profit,the less the risk the more secure the money is.So you are right that looking at business portfolios that can grow overtime is more satisfying than get rich quick schemes which includes highly volatile assets that has a potential of making you file for bankruptcy.

 

[Suba]

An emergency fund is a special fund that is prepared and kept to finance unexpected and urgent events that are not expected to occur, such as natural disasters, accidents, etc. Emergency funds can be collected every month, the amount of which is adjusted to income.

 

[funkie]

In Order to Save Money, we should set up an emergency fund that we can use in a contingency and these sorts of funds do help us in emergency situations like of Covid or any other pandemic.

After the severe pandemic that the world has gone through, it has become more and more important for people to start saving up, no matter how small the amount. There must be money saved up that can be used on a rainy day, i.e. emergency situations. I completely agree with your point here.

 

[Bisolami]

You are right that the money must be generating a profit,the less the risk the more secure the money is.So you are right that looking at business portfolios that can grow overtime is more satisfying than get rich quick schemes which includes highly volatile assets that has a potential of making you file for bankruptcy.

The only think left is to know the kind of business that we can invest in. Some people don't take their time to observe business and they end up losing money

 

[Carson20t]

The only think left is to know the kind of business that we can invest in. Some people don't take their time to observe business and they end up losing money

We all have been taken by suprise in various investment ventures hence the reason we stick in forums where we egange and try to get latestr news or alerts of a possible deal that is about to go awar.But i do think there are alot of ventures that can provide the preference for a person to be able to claim interest from such monies that are set aside for emmergency purposes,

 

[Bisolami]

We all have been taken by suprise in various investment ventures hence the reason we stick in forums where we egange and try to get latestr news or alerts of a possible deal that is about to go awar.But i do think there are alot of ventures that can provide the preference for a person to be able to claim interest from such monies that are set aside for emmergency purposes,

Yes there are a lot of them. I hope we find the legit ones because investing in scam may be very tiring

 

[Carson20t]

Yes there are a lot of them. I hope we find the legit ones because investing in scam may be very tiring

The risk factor is inevible but due diligence research does pay off to a larger extent.Most of us the problem we seem to forget is that for any success of any project requires one to have more and more sales of a products and service.There has to be more buying from you.So it is the enjoy as it lasts in most cases.

 

[cherry123]

In Order to Save Money, we should set up an emergency fund that we can use in a contingency and these sorts of funds do help us in emergency situations like of Covid or any other pandemic.

Sure, this has been on my mind since I read about it a while back it is always good to have an emergency funds it does help in the future.

 

[Shavkat]

It's an ideal thing to consider. Unfortunately, not all people do this due to certain circumstances. If a person has all the means, then it is a worth of investment.

 

[Hate2Wait]

Sure, this has been on my mind since I read about it a while back it is always good to have an emergency funds it does help in the future.

I need to plan about it too and having this sort of find can help us get out of jail in circumstances beyond our control like how we witnessed the pandemic situation where our Governments were least helpful to us

 

[Sanjeev]

You don't need to have an emergency fund, saving every month is required which can be used when we have an emergency. I try to save money as much as I can so that I may use it when I require money badly.

 

[Hate2Wait]

It's good that you save every month but if you can deposit money in an emergency fund every month and don't use it until you encounter an emergency then you'll be better placed and can use that fund excluding for your emergency needs

 

[Sanjeev]

I never like the idea to save in any emergency fund, for me a saving account is enough. There is some minimum amount after which I don't withdraw money from the account as it can be used for emergencies.