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Some people are in full financial distress because they have no emergency fund. Maybe they naively think that difficulties will never come. Like the sun rising in the morning, rainy days will always come. Have the following difficulties ever happened to you?
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1. Your child needs a pair of braces. Either she needs to study abroad, or he has joined the football team and needs to buy equipment.
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2. The transmission lever is out of order. Or the engine is broken, the brake fails, the tire blows out, the air conditioner in the car is broken, and the starting motor is broken.
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3. The old refrigerator was scrapped. Or the dishwasher, washing machine, dryer or other household appliances are broken.
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4. You sprained your ankle, need emergency treatment, and take three days off. You have an attack of appendicitis. Or your heart is out of order (God forbid!).
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5. Johnny lost his rented horn, which means he not only needs to compensate for the lost horn, but also needs to rent a new one.
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6. You’re fired.
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7. Your house was damaged in the rainstorm, but you only have a deductible of $500. Or your house is flooded, but you haven’t bought flood insurance at all.
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8. Unfortunately, your husband was involved in a car accident, but the driver didn’t buy insurance. Your car had to be repaired for two weeks, but the insurance company refused to pay for the rent for the two weeks.
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9. You took $400 out of the ATM to spend a week, but it was robbed. Or you withdrew $1200 by cheque and were robbed just after you left the bank.
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10. Your laptop, smartphone, tablet or other device was in the bathtub with your four year old child – the child didn’t mean it.
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There is no justice in life. Sometimes it rains night after night. Some problems require tens of thousands of dollars to solve, but more difficulties can be solved or alleviated with only a few thousand dollars.
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The key to preventing financial crisis is that when you need money badly, you have a certain amount of savings to help solve the problem. When you use your savings because of real difficulties, remember to make up in time.
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As the saying goes, take precautions. Maybe you are still young, maybe you have not encountered many disappointments in life, but these problems will always arise. Although we envy others when we have millions of deposits in the bank, in fact, we can withdraw thousands of dollars of deposits at any time to ensure our peace of life.