Oh if only life wasn't plagued with unforeseen emergencies. The reality is that unforeseen monetary emergencies can bring future plans to a halt, unless we prepare ourselves. It can be tough to recover from some emergencies that may deplete our savings, if we have any.
It actually isn't hard to build an emergency fund. It takes discipline and a bit of sacrifice. Cutting frivolous spending and putting a weekly amount from your pay into a savings account can build a nice emergency fund. Emergencies such as repairs to homes and auto, medical, etc., can happen at anytime and can be costly. Not to mention a job loss or other loss income that people may not consider or think of.
Getting started is easy once we determine our goal. We also need strategies to create an emergency fund. Information is sometimes repetitive, but knowledge is power.
People sometimes tend to think of saved money as a windfall and start spending it on non-emergency items. Bad idea. Remember that an emergency fund, in all reality, should last a lifetime.
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