Why do you need an Emergency Fund?

WHAT IS AN EMERGENCY FUND? Life has a lot of uncertainties. You may not know that one day you’ve been hit by a calamity, you had an accident, you suddenly became ill, or your house got burned. In these circumstances, you need to be prepared. In personal finance, it is often called “saving for the rainy days”. These savings is often called emergency fund that is often used when we encounter emergency situations. WHERE SHOULD YOU PUT YOUR EMERGENCY FUND? Since emergency funds are... 

Source:  Millionaire Acts

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