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Meaning – Family and close friends. Fam is used to describe the people you trust the most. Friends can be considered fam if you are very close to them and you consider them as part of your family. Fam can be used to describe one close friend or a group of close friends.
This expression can also be used as a term of endearment between friends – “How you doing fam?“
Example:
“I just want to spend the weekend hanging out with my fam!”