To be on firm financial footing, it’s advised by every investment specialist and financial planner to put away money in an emergency fund.
Generally, the idea is that you won’t use the money in your emergency fund unless an emergency takes place and you need access to cash. However, to prepare you for all types of different emergencies, you may choose to dip into your emergency fund occasionally to pay for whatever it is that you need to feel more confident in your abilities to face an emergency should one take place.
To help you see what kind of things you may want to consider using this money for, here are three ways you could use your emergency fund money to be more prepared during an emergency.
Supply Your Own Food
As another facet of preparedness, you may want to use your emergency fund to help set yourself for feeding your family if you’re unable to purchase food from a store.
One way you can use your money for this purpose, according to Marilyn Lewis, a contributor to Money Talks News, is to purchase seeds for sprouting and begin cultivating your own garden. This doesn’t have to be expensive, so you likely won’t have to use too much of your emergency fund to prepare in this way. As another option for supplying your own food to your family, you may also want to purchase an AR-15 hunting rifle or other means for catching and preparing food that you’ve sourced yourself.
Learn How To Protect Yourself
During an emergency, you may find that you need to physically protect yourself or your loved one. Knowing this, you could consider using some of your emergency fund to pay for self-defense classes so that you can learn the best ways of doing this.
According to Amy Eisinger, a contributor to Greatist.com, there are a lot of self-defense principles and moves that you can practice and then master on your own. However, to get some actual training and try out your training in a safe environment, paying for a self-defense class everyone once in a while could be very helpful when an emergency situation arises.
Get Basic Medical Training
In many emergency situations, people are going to be getting injured without immediate access to medical assistance. Knowing this, you might find that your emergency fund could be well spent getting yourself some basic medical training. Along with this, the American Gun Association also recommends that you put together an extensive emergency medical kit to offer any necessary care until you’re able to get actual medical help.
While no one ever wants to be in an emergency situation, having more than just an emergency fund of money can make any situation easier to cope with. So to be prepared on all sides, consider using the tips mentioned above to put your emergency fund money to good use.