Group of friends that do not necessarily have to be related. The word is short for family, so you use it for people you care about. Its similar to saying "Squad".
Refers to the loved ones you consider “family”. They are the relatives closest to you and you therefore refer to them as fam. Everyone has family-those related to them, but not everyone has family-family. If you have loved ones to refer to as “fam”, treasure that, take advantage of your that, love and treasure your true fam..
Bros and sis’s, lets go the Dodger game on Sunday, whad ya say, fam ?!