Frank almost went nuts when he got a call from the hospital that his pregnant wife has been wheeled to the theatre for an urgent Caesarean section that will cost him four times his monthly pay.
The young man had set aside funds just for normal delivery since the last baby was born the same way. But alas, this shocker! Instant confusion set in, profuse sweating, heart beating almost audibly, BP rising.
I can guess your response if I ask you to be in Frank’s shoes for just 30 minutes. God forbid, right? But life happens and emergencies sometimes come with it. So to be safe, get financially ready for the worst.
Let me show you three simple ways you can save extra cash for the unforeseen future:
Review your monthly budget and find a way to shrink the wants category, since it contains items you can sacrifice. By doing this you don’t get to borrow or touch your savings. Moreover, you won’t have to forego your needs.
Another way to build an emergency fund is to set aside some percentages of returns from your investments, no matter how small they are. But then the pertinent question arises: do you have any investment at all? If your answer is negative, please visit zimvest and sign up for an investment package that suits you.
Lastly, you can also expand your emergency funds from a savings account that pays. Sounds strange? At Zimvest, you can put your extra cash into money-making virtual vaults. Come and find out how.
You don’t have to borrow each time you’re faced with tough financial issues. Build a backup mechanism over time and be safe always.