Don’t You Wish You Have an Emergency Fund Right Now?
Doesn’t it seem much more important to have an emergency fund now that people are talking about the US going into recession? Something that’s often neglected as a benefit of having an emergency fund is actually the piece of mind of knowing that our standard of living won’t be jeopardized if we lose our jobs.
Having an emergency fund will also give us freedom to look for another job if we unfortunately get fired. Imagine someone who lives paycheck to paycheck getting fired. How will he or she keep up? It wouldn’t matter what the former lifestyle is because there is no way he/she can pay another bill. This means that the person is forced to find a job immediately and the chances of finding a good one diminishes drastically.
Some might feel that emergency funds are not important because they’ve never used it. Actually, the […]
Original post by MoneyNing