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Becoming the Head Honcho of Your Emergency Fund

Emergency fund

Do you ever feel like you fix one financial emergency just in time for another one to arrive? Call it unlucky, but that’s just the way life is sometimes. A well-stocked savings account can help you flit from one unexpected bill to the next without borrowing money. But you probably already know this. What you might not know is how to build up your fund so that it’s ready for the next financial curveball. If your savings are looking anemic, check in with this guide to find out how to become the head honcho of your emergency fund. How Much Money Should You Set Aside? Before you can start boosting your savings, it’s a good idea to know how much you need ...

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The Efficacy of an Emergency Fund

emergency fund

Can anyone predict what is going to happen tomorrow? Today’s merriment may end into a grave misfortune tomorrow. So what we need is to remain mentally prepared all the time. And a financial preparation for the unknown helps us to overcome the challenges in whatever form they may appear; job loss or a deadly disease in the family. This preparedness is provided by an emergency fund. Now what does an emergency fund actually mean? It is actually a monetary backup set aside for days that are an emergency. An emergency situation may arise in a number of ways and it is a situation when you need extra cash’s to come out of the fix. In theory, an emergency fund is built with ...

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