Hello!

17 Comments

Where do you turn to when you’re faced with a financial emergency?

Do you have an emergency fund (or a safety net) for a rainy day?

A little money put aside for a time when urgent cash is required. For example medical expenses associated with a serious accident or illness.  A stash will get you by until you can claim on the insurance policy.

Without a sufficient financial safety net you could find yourself in financial ruins. Your options for paying for an unexpected expense may end up on a credit card or loan which will need to be paid off.

Or even worse… you may be left to make a medical decision based on financial circumstances, rather than what’s best for you and your family.

Already have an emergency fund? Fantastic, is it enough and is it keeping up with inflation? Unfortunately, the cost of unexpected expenses does not stand still.

Yet to create an emergency fund? You may be surprise how quickly you can create your financial safety net with automatic savings on a regular basis.

An emergency fund is a vital step in establishing a good financial foundation for you and your family.

 

IMPORTANT INFORMATION: The information and opinions contained in this article are of a general nature only and does not take into account the investment objectives; financial situation or particular needs of any individual or entity and does not constitute specific or personal advice. The information and opinions herein do not constitute any recommendation. No financial product or financial service should be acquired or disposed of or financial strategy adopted without you first obtaining professional personal financial advice suitable and appropriate to your own personal needs, objectives, goals and circumstances.  Information, forecasts and opinions contained in this article can change without notice. Although care has been exercised in compiling the information contained within, Modoras Pty. Ltd. does not warrant that the articles within are free from errors, inaccuracies or omissions. To the extent permissible by law, neither Modoras Pty. Ltd. nor its employees, representatives or agents (including associated and affiliated companies) accept liability for loss or damages incurred as a result of a person acting in reliance of this publication. This article has been prepared by Modoras Pty. Ltd. ABN 86 068 034 908,  AFSL 233209.

 

  • get that financial safety net and savings for safety. it is a must have really especially when you have a family

    Reply

  • Great! Good knowledge to know! Thanks for sharing this!

    Reply

  • Good to be reminded of these sorts of things

    Reply

  • Good advice.

    Reply

  • We always have money saved for a rainy day, you never know what is around the corner

    Reply

  • This is a great idea. It takes a little discipline. But once you get started and see your money grow it is a wonderful feeling.

    Reply

  • I wish I did have an emergency fund. Thanks for a good read.

    Reply

  • I did have an emergency fund. Until this year when everything went pear shaped. I’m glad I had it though.

    Reply

  • A great idea, always good to save for a rainy day.

    Reply

  • I great idea, we do try to put aside just in case of an emergency.

    Reply

  • I think everyone should think about this

    Reply

  • Having gone through a couple of occasions where financial issues caused sever emotional problems, I now cannot function without knowing that I have an emergency fund. There’s not a lot of money in it, but if the car died or the dog needed vet care, I know I’ve got enough to cover it to a certain extent. And I need that, for my peace of mind.

    Reply

  • A very good idea and one all of us should do

    Reply

  • totally agree it is very important to have this in life

    Reply

  • I wish I could afford to give myself a safety fund

    Reply

Post a comment
Like Facebook page

LIKE MoM on Facebook

Please enter your comment below
Would you like to include a photo?
No picture uploaded yet.
Please wait to see your image preview here before hitting the submit button.
Your MoM account


Lost your password?

Enter your email and a password below to post your comment and join MoM:

You May Like

Loading…

Looks like this may be blocked by you browser or content filtering.

↥ Back to top

Thanks For Your Star Rating!

Would you like to add a written rating or just a star rating?

Write A Rating Just A Star Rating
Join