Have you ever experienced a natural disaster that had a direct impact on your economy? Like the damage to your house, car or even your office is destroyed? Every natural disaster will cause loss, especially property. Many people are busy repairing damaged parts of the house, or their vehicles that are directly affected. Therefore, the community must have an emergency funding plan to deal with natural disasters. A financial planner said, there were 3 investment instruments for emergency funds for natural disasters, including savings, deposit and gold bars or precious metals. A combination of savings, deposits, and gold.
This savings is important if deposits and gold are additional. Usually, people do not like to save a lot of money in savings, can be transferred to gold or deposits. The three of them are also liquid quickly for any time needed.
Using savings as a place to store emergency funds is the easiest way. You can directly come to the ATM or bank to withdraw your money right away. Besides, if you feel uncomfortable depositing emergency funds in savings, you can save them through deposits. However, withdrawing money through deposits is not as free as withdrawing money from savings. There is a certain period to be able to withdraw deposits.
Not only savings and deposits, but gold also became another alternative to be used as an emergency fund investment instrument. Gold can also be cashed at any time. Saving emergency funds in savings, deposits, and gold is most appropriate for the bankable community. Whereas for the unbankable or untouched community, banks are likely to save money in cash, gold jewelry or livestock.
Most people who can reach the bank, their communities have many investment objects in the form of piles of corn/wheat, pets like chickens, goats, cows, and others that can be used directly to survive when hit by natural disasters such as earthquakes. With a variety of investment instruments available, there is no reason for you not to do so.