Post by sakib21 on Feb 25, 2024 0:32:11 GMT -8
Your Current Financial. Relying on Loans and Help From Relatives, Friends and Acquaintances? If You Have Savings and You Urgently Need to Withdraw Some Money From It, for Example, You Need to Undergo an Urgent and Expensive Surgery, You Can How Quickly to Withdraw the Money Why Both Answers Matter an Air Bag Also Known as a Reserve Fund Protects Against Force Majeure and Provides Financial Confidence and Freedom. If You Lose Your Job or Another Source of Income Such as From a Business and the Likelihood of This Happening in the Covid Era Increases You Will Need Something to Stay Afloat Until You Find a New Source of Income.
Taking Out a Card or Other Kenya WhatsApp Number List Type of Loan Won’t Help You Right Now. They Need to Be Returned and Even Pay Considerable Interest. If There is No Income Then There is No Way to Get the Money Back. So in Order to Feel More or Less Confident About Your Finances for at Least a Few Months You Need a Financial Buffer. Sometimes You Need Money Right Now and the Money is There but You Can’t Withdraw It Quickly in One Day. The Reasons May Vary. For Example You Need to Go to the Bank in Person and You Are in Another City. Or Funds Invested in Securities Often Require More Than 10 Days to Sell the Securities and Withdraw the Funds From the Broker. How Much Money Do You Need to Build a Financial Buffer? It is Generally Recommended to Build.
Create an Emergency Fund Equal to Your Average Monthly Household Expenses, Not Income I Agree With This Suggestion. Also the Greater the Risk of Loss of Income - for Example if Only One Person in the Family Earns or All Income is Tied to the Business - the Longer the Financial Buffer Should Be. Razmel Financial Podushki How to Calculate a Financial Buffer to Calculate the Size of Your Emergency Fund You Need to Record All Your Expenses for Several Months Excluding Bulk Purchases of Durable Goods Such as Furniture but Including Purchases of Clothes and Shoes and Loan Repayments if Any. The Fee Amount for These Next Months Must Be Divided by the Number of Months and Then Multiplied by the Number of Months in Which You Plan to Create a Reserve Fund. Create a Financial Security.
