Debt Review School: What is an Emergency Fund?


An “emergency fund” is money that you have specially set aside for unknown and unplanned events.

Such event could include a sudden medical bill, something you desperately need to replace on your car (like a new tyre or cracked windscreen) or an appliance that broke down unexpectedly.

While normally not a lot of money the idea is that such savings can help when any of life’s sudden surprises hit you.



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