Every Jagoan is advised to have an emergency fund. However, if an emergency takes place and there is no emergency fund, what should be done?
Surviving an Emergency Without an Emergency Fund With These 3 Ways
1. Reduce expenses here and there
Emergencies can happen at any time without us predicting beforehand. When an emergency takes place and you don't have an emergency fund or you already have one but the amount isn't sufficient, the first thing you can do is reduce your expenses here and there.
For example, if you go to work every day using a private vehicle, you can temporarily switch to cheaper public transportation. Thus, the money can be used to deal with your emergency.
2. Use up budget for other needs
The next way you can apply is to use up the budget for other needs, such as non-priority needs (e.g. entertainment and fun) to take care of your emergency. This is only temporary until the emergency is resolved.
3. Ask a family member or friend for help
Even if you are reluctant, if you have to, you can also ask a family member or friend for help. By borrowing money from them, the chances are that you won't have to pay interest or only pay a small amount of interest. Of course, once the problem is solved, you need to make every effort to return the borrowed money as soon as possible.
Building an Emergency Fund With Jago
It would be better if from the start you have set aside money to build an emergency fund. Isn't that right, Jagoans?
By having emergency savings, life will be free from anxiety and stress. When an emergency takes place, you can deal with it immediately. To get started, you can use the article Steps to Realizing the Goal of Building an Emergency Fund as a guide.
To manage finances and save more easily and practically, the Jago application is ready to help you. A number of features that you can take advantage of include Saving Pocket to manage your savings needs and automatic transfer to save consistently.
The Jago application can be downloaded here for those who don't have it yet.
