Governments, businesses, individuals, and families establish contingency funds for emergencies and unexpected events. Governments offer social assistance funds to low-income families, while companies reserve funds for market changes and equipment malfunctions. Individuals and families can create their own emergency funds for unexpected expenses.
The different types of contingency funds are assumed by governments, businesses, individuals and families for emergencies and uncontrollable events. Governments use emergency funds after natural disasters, fires and other unexpected events. Governments also assign funds for temporary assistance to families with low incomes that cannot satisfy their basic food and living needs. Companies reserve funds in case of changes in the product market, malfunction of the equipment and other problems affecting rentability. Some individuals and families reserve emergency funds to be used in the event of job loss, unexpected medical costs, car problems and other unplanned events.
The governments establish funds of contingency to satisfy the needs of society in the event of disasters and unplanned events. After a natural disaster, like a hurricane, recursos are needed to provide shelter to the afflicted, repair damage, secure the area and restore general function. Electric fires and fires on a large scale are other cases in which emergency funds can be applied to protect people, restore safety and support basic human needs. Dichos Fondos generally deben usarse bajo pautas predefinidas y solo en situaciones de emergencia.
Other types of contingency funds of the government offer temporary assistance, also known as social assistance funds, to individuals and families that fall under specific input levels. People generally find government assistance funds due to limited access to jobs, incapacity to work due to enfermedad or discapacidad, and/or deficiencies in commercial skills. These funds are destined to consume the gastos de alimentacion and vivienda of a family. Los gobiernos a menudo ofrecen servicios junto con fondos para capacitar a las personas aquirir nuevas bilidades con el fin de ingresar a la fuerza laboral. In some regions, the fund receptors must be enrolled in labor capacity programs and advised to help them obtain more inputs.
Companies also establish contingency funds to protect themselves against bankruptcy in the event of uncontrollable events. A competitor can introduce a product that suddenly reduces the demand for the main product and the generator of the company’s profits. The company’s team may operate incorrectly unexpectedly, causing loss of productividad and possible demands. Reversals in the markets or new marketing plans may not produce the desired results. Companies that reserve contingency funds can overcome these financial challenges and save time to review products, repair equipment and implement new inversion and marketing strategies.
Individuals and families can create their own contingency funds during their presupuestarios processes. Emergency funds reserved for dealing with unexpected deaths can help families avoid deaths and privations. The unexpected loss of work, car repairs, medical expenses and the replacement of important household appliances are just a few examples of circumstances for which family emergency funds can be used.
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