Quick Definition

A Just In Case (JIC) fund, also known as an emergency fund, is a reserve of money set aside to cover unexpected expenses or financial emergencies.

Examples

• 1A person saves a JIC fund to cover unexpected medical bills after an accident.
• 2A family maintains a JIC fund to pay for urgent home repairs, like a broken heater in winter.
• 3An individual uses their JIC fund to cover living expenses after sudden job loss.
• 4A small business keeps a JIC fund to manage cash flow during off-peak seasons.

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