Whether it’s getting out of a job you hate or ending a relationship that isn’t working, it’s always smart to have a backup plan. Women are now being advised to secure themselves with a ‘GTFO fund’ – a financial safety net for unforeseen circumstances.
Why a GTFO Fund is Essential
Thinking about what could go wrong might seem grim, especially when everything seems perfect. However, a GTFO fund – a stash of personal savings for emergency escape plans – could be one of your most critical decisions.
We all plan for possibilities like mortgage increases or car accidents, so why not plan for our own personal emergencies? Just like setting aside money for a rainy day, having funds ready for sudden personal changes is equally crucial.
A GTFO fund can be vital in numerous situations. It equips you to leave toxic relationships or jobs, ensuring you always have the ability to support yourself.
Understanding a GTFO Fund
A GTFO fund stands for ‘Get The F**k Out’ fund. Sometimes called ’emergency funds’ or ‘go funds’, it’s simply personal savings set aside for immediate use if needed.
Farah Nazeer, Women’s Aid Chief Executive, elaborates, “Emergency funds are desperately needed by those seeking to leave their abusers, especially now with the additional challenges presented by the cost-of-living crisis.”
On Reddit, discussions about GTFO funds highlight their importance. One user emphasized that in all stages and types of relationships, having accessible money to ensure safety and independence is crucial.
Even when seamlessly coordinating finances with your partner, unpredictable events can occur. Hence, maintaining a well-funded GTFO account is essential.
The Broader Benefits of a GTFO Fund
A GTFO fund isn’t solely for averting divorces or escaping from violence. It can help in other situations, too. You might need a new home or a replacement car if your relationship ends amicably.
One user’s comment shared, “My mother saved change from the grocery budget for her emergency fund for 50 years. She later advised me to start my own ‘divorce’ fund,” indicating that these funds aren’t only for dire circumstances but general emergencies as well.
Another account discussed how funds saved for emergencies kept a family afloat for almost a year after a sudden job loss, proving the practical importance of having money set aside.
Protecting yourself financially against unexpected events is not just about escaping relationships; it’s about ensuring security in numerous aspects of life. Keeping personal funds safe and accessible can provide stability and peace of mind in uncertain times.
Being prepared financially is a form of empowerment. It allows you the freedom to make decisions without feeling trapped by financial dependency. So, consider creating a GTFO fund for your own peace of mind, ensuring you always have the resources to navigate life’s uncertanties.
