4 reasons why creating an emergency fund should be a top priority for every one?
Planning your financial life does not mean planning for your long term financial needs only, It will be incomplete unless you keep an emergency fund for the unexpected emergency situations. In this article i will tell you why it is important to keep emergency fund and how much of this fund you should keep aside. What is Emergency fund? Emergency fund is the money that you should keep aside, so that you can use it in case you meet up with some sudden financial surprises, for example – Unexpected medical expenses Job loss Vehicle repair or home decor Helping someone close in his need Unplanned traveling or entertainment expenses Any financial crisis etc. Emergency funds are not to satisfy the daily expenses and basic needs, it is a support that you will have when you really need it in your hard time. Why is is essential to have an emergency fund? Having an emergency corpus must be the priority for everyone while planning for a great financial life . L