Emergency fund, as the name suggests, is money you set aside as resources for emergencies. When my younger brother had an accident back home in Africa, I was unprepared for his medical welfare because he had a brain injury. However, I had an emergency fund, which I used to sort out his medicals. I have seen friends and acquaintances get confused and go deeper into debt because of a lack of emergency funds.Financial emergency preparedness is part of your financial fitness. Anyone who has been through any financial emergency would…
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