Emergency Fund

EMERGENCY FUND

It is highly recommended by renowned financial analysts, and people in the business of money and finance, for every family, every individual, to have an emergency fund. The parameters of the emergency fund may differ depending on what financial consultant or financier’s principles you ascribe to. Some recommend that a family should have enough money in reserve, or in their emergency fund to last one year. This specified amount includes one year’s worth of expenses; including mortgage, rent, household bills, food, etc.

For some, the idea of having a years salary or a years worth of expenses saved up seems an impossibility; particularly in today’s economy. Other money managers prescribe timeframes that are shorter in duration, but the concept never changes. I’m sure we have all had family members who have said, “Put something away for a rainy day”.

This seems like sage advice particularly in times of economic disparity. It is not too much of a cognitive leap to consider that if having a storehouse, or an emergency fund in economic times of crisis is a good idea, then having spiritual stores, and an emergency fund of spiritual resources is a good idea as well.
Very often, economic crisis and spirituality find themselves intersecting. When people are hurting, can’t see their way clear, don’t know where the next house payment or next meal will come from, they cry out to a Higher power for divine intervention. Even those who profess no particular faith, and even those who consider faith the frivolous notions of the masses, in times of crisis, find themselves crying out “Oh Lord!” ‘Oh God!”

Consider this. When the economy is flourishing, instead of spending aimlessly, put something away in the emergency fund. When times are good and blessings seem abundant, put something away in your spiritual storehouse. We all know how difficult to save when crisis actually strikes. Be a good steward of plenty, so that in times of famine the crisis is diminished.

So, what do you have in your emergency fund?