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The Importance of Keeping a Rainy-Day Fund

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Have you ever thought about how you’d cope financially if you were to lose your job? Do you have a nest-egg set aside to keep you afloat if you were suddenly faced with a medical emergency? If not, it sounds like you need to build an emergency fund. Also called a rainy-day fund, it’s defined as a sum of money that’s set aside for unpredictable and unplanned for expenses. The money should be liquid (meaning it should be easy to access) so it’s best to keep it in cash or in a current account. The importance of keeping this available cash shouldn’t be overlooked for the following reasons.

An Investment for Your Future

It is important to see your rainy-day fund as a potential investment, even if you are not a high-income earner. For instance, many parents look forward to putting their kids through college, but student loans can be difficult to repay, even if you end up borrowing from a program and qualifying for Parent PLUS Loan Forgiveness or deferment.  These repayments can end up costing more than you anticipated and, suddenly, the savings you put aside for your children’s future can start to disappear. If you have a dedicated rainy-day fund, it can soften the blow and keep you in a position of power to reorganize your finances and provide a secure future for your family.

Helps with Unforeseen Expenditure

On a surface level, putting something aside for unexpected events may seem like a waste of funds that you might use better elsewhere in your daily life. You might have debts mounting up that you are struggling to keep on top of. But, even in these circumstances, putting something aside for the worst-case scenario can help later on. We have little power over what we cannot predict, such as medical issues that can strike at any time, at any age. If you own your own home, you’ll likely already be aware that you cannot always anticipate where your next major maintenance issue is going to come from. Even if you feel on top of your budget, there are sometimes things we overlook. Ultimately, beyond mere superstition, having money put aside can ensure you’ve got more power over the worst-case scenarios.

Business Owners Can Through Quiet Times

It is a wonderful thing to be self-employed, but such autonomy comes with a price. Even when things are going well, there is always the possibility of business slowing down. For some self-employed business owners, finances can fluctuate dramatically, and there’s nothing more demoralizing than draining the resources you’ve worked so hard to build. Having something put by for these times can offer great peace of mind and the breathing space to plan your next move. It also trains you to budget in a professional manner and re-evaluate your budgets with a growth mentality.

Your Safety Net

Having financial peace of mind is the ultimate goal and having the safety net fund is one of the best ways of ensuring that money never causes you too much stress. If you are the sole breadwinner in your house and you lose your job, your fund will give you the breathing space you need until you find a new job. If you get sick and have to take time off from work, this will get you through and allow you to keep up with your loan repayments and monthly expenses. Whatever your circumstances, it can be your lifeline you can grab hold of in those times when you need quick cash.

Michelle has been a part of the journey ever since Bigtime Daily started. As a strong learner and passionate writer, she contributes her editing skills for the news agency. She also jots down intellectual pieces from categories such as science and health.

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Does CBD Oil Work for Chronic Pain Management?

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Many people use CBD oil to relieve pain and to improve other conditions like sore muscles and feelings of anxiety or depression. Recent research has shown the potential that CBD oil has the potential to help patients get relief from many of those conditions.

In this article, we will look at how CBD oil works and how it can benefit people suffering from numerous conditions including anxiety, depression, acne, eczema, multiple sclerosis, rashes and people presently undergoing debilitating treatments like chemotherapy.

Effects

According to CBDStudy, CBD is one of many naturally occurring compounds in marijuana and hemp plants known as cannabinoids.Many plants contain cannabinoids but hemp and marijuana plants a very high concentration of them.

Tetrahydrocannabinol (THC) is the cannabinoids that causes users to get that “high” feeling that results from using marijuana. But CBD oil does not cause users to get high. This is because CBD does not connect with the same receptors inside the brain as THC does.

Cannabinoids have a direct effect on the endocannabinoid system (ECS) inside our brains. That is why these compounds affect the way we feel pain, our sleep cycles and how our immune system functions.

Can CBD Make You Feel High?

CBD does not make users feel high although it does have many other positive reactions. It can also encourage the body to naturally produce more of its own naturally occurring endocannabinoids.

For example,CBD oil stops the body from absorbing anandamide, a compound associated with the way the body experiences pain.

The cannabinoid compound contained in hemp and marijuana plants that creates that “high” feeling is called THC. Two years ago, Congress passed the 2018 Farm Bill which allowed for the sale of CBD oil products over the counter as long as they contained a maximum of 0.3 percent THC. That is simply not enough to get you high.

You may ask, why is a small trace amount of THC still in these products? That is because of the way the different cannabinoids or compounds present in hemp plants interact with each other.

When all of the naturally occurring compounds are present in one CBD oil product, they actually help to maximize the effects of all of the other compounds in the product. This is called “the entourage effect.” It basically means that when all of the cannabinoids are working together, they work better than they would if they were working alone.

What is CBD oil?

Some type of cannabis plants — often called hemp or marijuana,contain different levels of various chemical compounds.

Most CBD oil comes from industrial hemp, which usually has a higher CBD content than marijuana. It also contains less THC.

CBD oil comes in many different strengths and people can use it in various ways and for several different conditions. Its recommended that you discuss CBD oil with your doctor before using it to make sure there are no potential negative interactions between any CBD oil products and any prescription medications you are presently taking.

Benefits

CBD oil is actually one of the oldest natural remedies used by human beings. For thousands of years people have used CBD to treat different types of pain and other conditions. It’s only in recent years that the scientific and medical communities have begun to study it more closely and how it can benefit patients with many conditions.

Here are some of the possible benefits of CBD oil:

Arthritis pain

Some researchers note a significant drop in inflammation and signs of pain, without additional side effects by using CBD.People using CBD oil for arthritis may find relief from their pain and they may see less swelling in their joints as well.

Multiple sclerosis

Multiple sclerosis is a condition that affects the entire body because it impedes signals sent to the muscles by the brain via the spinal cord.

Nerve pain, tingling in the hands and feet and a reduction in strength and mobility are among the most common symptoms of multiple sclerosis. If untreated, it could eventually prevent a person from being able to walk or get around on their own.

Recent studies show CBD oil could reduce the levels of spasticity that MS patients often feel. Many people also reported a reduction in symptoms. Additional studies are needed to verify these results.

Chronic pain

Researchers say the results of multiple systematic reviews covering dozens of trials and studies. Some recentstudies indicate there is substantial evidence that CBD oil is an effective treatment for chronic pain in adults.

This has the potential to benefit patients suffering from conditions like osteoporosis or arthritis and those undergoing painful treatments like chemotherapy where the side effects from the treatment is often nearly as debilitating as the disease.

They noted that cannabinoids, such as CBD, could offer helpful new treatments for people with chronic pain.

Marijuana derived CBD products are not presently at the federal level but are legal under the laws of some states. However, CBD oil products made from hemp and that contain a maximum of 0.3 percent THC are legal and available for sale as supplements in all 50 states since Congress passed the Farm Act of 2018.

There are many potential uses for CBD oil and studies are ongoing as to exactly how it can be used to help people suffering from numerous conditions. What we do know for sure is that CBD oil products can help people relax and create an overall feeling of well-being that can help improve the symptoms of conditions like anxiety and depression.

It also has anti-inflammatory properties which can benefit people suffering from several conditions from chronic pain to acne and eczema. Best of all, CBD oil is a natural substance that has few if any side effects which differentiates it from many other prescriptionand over the counter medications out there.

CBD oil can offer help for many people if they use it regularly and properly.

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