Build Your 'O-S-H-I-T' Fund: Your Safety Net for Unexpected Moments

Hi everybody, I wanted to talk about something crucial: an 'O-S-H-I-T' fund. It's a fund of money that's yours, but it's there 'just in case.' People might say, 'Isn't that just savings?' No, it's not. This fund is specifically for when 'it hits the fan.' It's not for planning a holiday or saving for something specific; it's there to get you out of a hole. You might think, 'How the heck do I do that when everything coming in is going out?' However, there has to be a way for you to be safe – both at home and in your business. How much does it cost to run your home monthly? How much does it cost to run your business? You need to be fluid, able to deal with things if no money is coming in. That's what an OSH1T fund is. It's not for building up cash for a holiday; it's there to sit, just in case. Moving forward, I suggest you look at your costs. First, see if there's anything you're paying for that you don't need – that's a quick fix. Then, find out how much it truly costs to run your home and business. There are calculations out there, like having three times your monthly outgoings in your fund, but that's your choice. I remember having a number in my head, and once I reached it, the stress it released from us as a family, and from running our business, was immense. We always had that 'just in case.' Even if you're saving a couple of quid a week, building it up over a few years releases so much pressure. Knowing you're okay allows for better sleep, personally. If you want to talk about it or need help with this flipping fund, let us know. That virtual cup of tea is there for you.