What is an emergency fund and why do I need one?

An emergency fund is simply a pot of money that you keep specifically for emergencies. It’s not nice to think about the chances of you falling ill, having an accident, or being unemployed, but unfortunately, it’s necessary to think about it if you’ll need to pay any bills or have anyone who relies on your income. Peace of mind and reduced stress The stress we tend to feel when we lose our jobs or fall…

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