Mon Dec 26 2022 07:53:07 GMT+0000 (Coordinated Universal Time) - QikTruck Media
It’s no secret that an emergency fund can benefit any person who holds one. While saving for the future can be difficult, and the thought of doing so scary, it is an important part of committing to your long-term financial health.
In South Africa, few citizens have access to a personal or family emergency fund. Due to the pandemic, the financial situation in many households drastically changed, with records of unemployment still climbing. This means that having an emergency fund has never been so important. The instability of the current financial situation is the primary reason why South Africans must take the time to start building a steady fund now.
One of the advantages of having an emergency fund is that it will help you to easily and confidently handle any unexpected financial crisis. No matter if you are dealing with a job loss, medical bills, or car problems. An emergency fund provides you with a security blanket that helps mitigate the financial stress of such unexpected situations.
For South African families, it’s even more important to have that security blanket. Dealing with food and expenses for multiple family members is daunting, so having a reliable emergency fund in times of need can make the process much easier. Instead of relying on quick and sometimes risky solutions, you can have access to money that will help the family through hard times.
Other benefits of keeping an emergency fund include the ability to avoid taking out loans. Whether you have a good credit score or a bad one, taking out loans should always be your last resort. Having a financial backup plan is a must if you don’t want to take out loans. By doing so, you will avoid high interest rates and other fees.
No matter how small it is, having an emergency fund makes a fundamental part of preparing for the future. It is impossible to predict the future, so taking precautionary measures is always the best way to ensure that your family is financially secure. Once you start building your emergency fund, it will become easier to budget and have access to more financial opportunities. An emergency fund encourages financial independence, which can help reduce your stress when it comes to money.
Building an emergency fund is a gradual process, and the best way to make it happen is to start small and consistently save. Make sure you make it a priority, and if needed, cut out some luxury items to make sure you have something to rely on when bad times come.
Qiktruck is an on demand truck and driver hire service that focuses on helping South African families plan for the future. Qiktruck allows you to hire a truck, with driver, and move from one house to another. Their service simplifies one of the most complicated and expensive parts of moving, because instead of paying for storage, insurance, and hiring multiple trucks, you can do it in a few simple steps. All you need to do is to book a truck, and you will be connected with the best driver in town that can suit your needs.
Qiktruck is an ideal solution for anyone planning to relocate. Not only does it provide a stress-free and cost-effective solution, it also allows you to plan for a brighter future and save the money that was intended for the relocation process. During the current financial crisis, Qiktruck is even more of a beneficial service, as it can completely remove the need to tap into your emergency fund, so you can keep it safe.
In this time of crisis, and beyond, having access to an emergency fund is more important than ever. South African families should make it a priority to have financial security and get the most out of a secure fund. Starting small and gradually increasing the amount is the best way to go, and Qiktruck is here to help.