Two Years of Russia-Ukraine War: Learning from Personal Finance POV

Two years later, the RU War is still on. Every one of us has been in the RU War situation for many many years.

How?? Let me prove you. Let's assume the RU war is over and both countries decided to reconstruct the destructeds. What would they need?? Only and only one thing -- Funds (THE MONEY).

Let's look at the Sources of Funds now. Where the funds will come from?? From trade, domestic tax collection, etc. This will do very little help because war brings dips in trade and tax collections.

So, the next biggest source of funds will be the debt - domestic and international. Yes, you have it right, the major influx of funds will be raised through debt.

Now, let's come to the personal finance of a common businessman and self-employed. If an individual is taking the debts to fulfill their needs, he/she has been in a RU war-like situation.

Countries have many ways to source funds, but we don't have. In such cases, what would have worked best? The Emergency Funds. For small businesses and self-employed, business growth should be a priority but not at the expense of Emergency Funds.

Every individual has a different magnitude of emergency funds. It must be calculated before planning for the business growth. Allocation of funds for business growth should always come after a proper arrangement of Emergency Funds.

Talk to a Seasoned Personal Finance Expert, and design your emergency fund, first. That will save you from the post-RU War-like side effects or else debt is a compulsion, you have no option.

To help you get started with Emergency Fund Planning, download the guide attached to the post to create your own customized Emergency Fund Plan. The link is here:

https://www.linkedin.com/posts/arun-kumar-sharma-startupcoach_2-minute-guide-for-emergency-fund-planning-activity-7167044430942617601-mIvf?utm_source=share&utm_medium=member_desktop