Categorized | Opinion

Emergency Funds & Go Bags

By David PeelDavid Peel

“Let our advance worrying become advance thinking and planning”
~ Winston Churchill  (British Prime Minister during World War II)
There are things that are sure to happen in life, but we are unsure as to when. For instance, do we really believe that we will never die?  No, most of us are in touch with reality enough to know we will die. So, do you have a will? If you have custody of children, whom have you picked to raise them? Waiting for the rapture is not a valid excuse to plan, either, because you will be declared legally dead if missing for a long period of time.
It has been said, “No one plans to fail, they just fail to plan.”
Our ancestors knew that “Murphy’s Law” applies. Bad things happen, and often in groups. How can you keep Murphy from succeeding in ruining everything? Here are a couple of ideas:
Keep an “Emergency Fund.” It is surprising how expenses take every available dollar. If we have nothing held back for the unforeseen, we live in a constant crisis. Everything, from a power bill to the failing transmission, is an emergency.
Dave Ramsey, the famous debt-free financial speaker heard locally in the afternoons on AM 990, suggests that the first step to winning financially is a $1,000.00 emergency fund.  To some, that will seem impossible. To others, it may seem miniscule.  However, it is important to have a way to get emergency funds for the inevitable urgency.
The difference in the psychology of just having a bit of cushion or “margin” is hard to estimate.  Without it, many have a tight belly and are unable to sleep well or even take a deep breath.  With it, you know there is at least a fighting chance.  While money should be no substitute for faith, planning for the fact of emergencies is wise and is taught in Scripture.
The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty.                 Proverbs 21:5
A prudent person foresees danger and takes precautions. The simpleton goes blindly on and suffers the consequences.        Proverbs 27:12 (NLT)
The so-called “Go-Bag” is a great idea once shared with me. Since we all will probably have to rush to the hospital for some reason, either for our infirmities or a loved one’s, we can prepare. A Go Bag is just a tote bag or large zip lock with a few items in it. Usually, people include a toothbrush, toothpaste, warm socks, a jogging or comfy sweat suit, clean underwear and a couple days’ worth of each of any prescriptions.
If your husband has chest pains, you just grab and go! That way, you do not have to leave the hospital and come home. It is infuriating to wait for hours for a doctor to make rounds, and finally you just give up and go home to change. Murphy’s Law says the doctor you need to speak to will come by while you are gone.
Pack a Go Bag today, and stash away an emergency fund (usually in a different out-of-the-way bank) as soon as you can.  By doing so, you will be planning for the unplanned and demonstrating a rare thing, seldom seen anymore in this world… wisdom.
Peel seeks justice for those injured in car accidents, work place incidents, medical malpractice, and nursing homes. He often addresses churches, clubs and groups without charge. Peel may be reached through PeelLawFirm.com wherein other articles may be accessed.

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