Times Applaud

Any financially responsible adult should have an emergency fund. Here are the guidelines to build and use an emergency fund that is there whenever you need it. The future is unknown, but you can at least financially prepare for the unexpected by setting aside money for an emergency fund. These savings, which should be held apart from your regular savings, should ideally be enough to cover three to six months of living expenses. If your pay is reduced, you lose your job, or you have a significant unanticipated bill, your emergency funds will act as a life raft to save you from having to use a credit card. An emergency fund is a financial necessity for all those who seek financial stability. The emergency fund is a cash buffer against financial troubles such as losing your job, being evicted, or being in an accident. It is comparable to, but not always the same as, an emergency safety net. It is the financial lifeline that keeps you afloat through difficult times. On some ...