Why You Need An Emergency Fund.

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Life is unpredictable and it will throw you unexpected financial curve balls every now and then, that is why it s good to have an emergency fund, it is a safety net that will help you cover an unexpected expenses without having to take on expensive debt.

An Emergency Fund is a stash of money set aside in case of unexpected events. These financial surprises or events can be stressful, depressing and costly. They can come in form of personal financial dilemma such as loss of job, debilitating illness, medical or dental emergency, unplanned travel expenses, car troubles, unexpected home repairs.

Being prepared with an emergency fund gives you confidence that you can tackle any of life's unexpected events without adding money worries to your list. The purpose of emergency fund is to improve financial security by creating safety net of ufunds that can be use to meet emergency expenses as well ad reduce the need to draw from high interest debt  options.

Set up a special account for your emergency fund, this will help you afford the temptation of dipping into it for non-emergencies.

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