Emergency Economy - Personal Finance & More

Life has its own plans. Even if you set your plans and try to project your future, there are things that you are not able to change in the direction of your life. 8 days ago, 2 massive earthquakes hit Turkiye and changed our lives deeply.

Before the catastrophe happened, we were planning to move my family to a bigger and newer flat and I was looking for new houses to buy with a mortgage. However, my father's store and our family house are damaged and the house that I had some intentions to buy with a mortgage has collapsed!

Now, I really do not know what the situation is for all of us. However, all I care about is the well-being of my family, relatives, and friends. Within these 8 days, I experienced and observed some emergency problems in terms of finance. Let me talk about them.

Money is not always Money

You may think that if you have enough fiat money in your pocket, you can "always" have the things that are for sale. In reality, it is quite doubtful. When an emergency case hits, panic does not let people focus on the right decisions and do what they are supposed to. In such cases, you may either see some groups not willing to share their assets/items or they may limit the sales.

In case of such an emergency, unfortunately, you will be affected directly by those who have what you want. As long as it is possible, try to have enough light sources, food, and drinks, things to keep your body hot and secure. Besides, it is wise to have insurance for your house, car and belongings if you see the risks are increasing in your hometown.

Too Much Money is Different

Of course you can always trick people with enough money. However, in such cases, you either pay a lot more or you cannot handle the overconsumption of money because of the extraordinary cases. Some people may choose to offer higher prices for things (spoiled morality) and the rules are set by them until they are punished for that.

If you cannot afford the absurd prices when you have nothing but some emergency funds, you have to go against it with others. If an emergency case is uncontrollable, social power may place the strength of money, too. IMHO, it is totally based on the people around and the degree of severity of cases.

Be Prepared Well

Imagine you have millions of dollars but you are trapped under the debris. Your millions have no value to save you.

Personally, one should be prepared for the situation in which s/he got trapped under the debris with his/her family. Focus on the life triangle, emergency bag, and equipment to keep you alive for a couple of days.

In the case that you are saved, you need resilience, money, security, and social power. When there is no law on the streets, you have to be strong and well-equipped. It is a hard decision whether you should follow the crowd or not. Sometimes you have to diverge from them when things do not look logical. Other than that, being alone may also put you at more risk. At that point, you should have a plan that was set earlier.

Overall Be Your Own Everything

Money is nothing when you are on an isolated island. Similarly, money may not be the first thing that will help you stay safe, strong, and healthy.

Your financial preparation plans need to be scaffolded with plans that are based on situations and well-organized plans. Your equipment, social power, and intelligence will keep you alive at the support level of your life. Prepare yourself for emergency cases mentally, physically, and financially and never forget the fact that each pillar is as important as the others.

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