The Complete Guide to Emergency Funds
One of the few personal finance concepts that garners near-universal praise is the emergency fund.
For many topics in personal finance, there are seemingly as many critics as there are advocates. Read on to learn more about emergency funds!
An emergency fund, also called a “rainy day fund” or “cash reserves,” is money that you have access to in case of an unplanned sudden need.
What is an Emergency Fund?
If you don’t have cash available to pay for an expense like this, or if you suffer a job loss, the alternatives don’t offer a positive outlook.
Avoiding Unnecessary Debt
Even if you have some investments, there’s volatility that cannot be predicted with certainty.
Help Manage Investment Or Economic Volatility
If you’re choosing to change jobs on your own volition, it’s best to be prepared for the transition.
Safeguard Against A Job Change
An emergency fund doesn’t have the same upside that real estate or other investing offers.
The Downside Of Emergency Funds
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