Try to Get Money Worries Out of Your Way
We know many of you worry about money even in normal situations, some even worry about finances all the time.
The main objective of the financial aspect of your contingency plan should be set enough money aside to allow yourself to focus on living through tough situations and fixing things for you and your family. Your contingency fund should allow to relieve financial pressure as much as possible in these bad situations.
It’s impossible to anticipate all eventualities, especially the worst ones. But, having some and enough money stashed away for those bad periods sure may help to cope with any situation. No matter how bad it can be.
For instance, losing your job can be very tough both financially and psychologically. Yet, having money aside should at least give you some time to get your act together and focus on finding a new job.
Another example would be if your fridge or car breaks down. Most people often have to move heaven and earth just to scratch sufficient funds for those kinds of repair. The actual hassle of just getting those things fixed is bad enough. At least get the money part of it out of your way.
Because it’s Much More Than About Money
You don’t have to become survivalists, but your contingency plan has to be more than about finances. For instance, everyone should have a plan in place to survive at home for 3-4 days.