Create an Emergency Fund - Deepstash

Create an Emergency Fund

Create an emergency fund to avoid the need to turn to debt.

Think about what makes sense for your financial situation.

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"Money doesn't buy class." ~ Kiana Tom

The idea is part of this collection:

Wellbeing at Work

Learn more about moneyandinvestments with this collection

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Create an Emergency Fund

Create an Emergency Fund

You can't predict an emergency, but you can prepare for one. The best way to do so is to set up an emergency fund of 3-6 months of living expenses.

Common financial emergencies include job loss, natural disasters and car, house and health issues.

6. Emergency Preparedness:

6. Emergency Preparedness:

Emergency Fund: Establish an emergency fund for unexpected expenses

Insurance: Learn about different types of insurance and their importance

Financial Resilience: Prepare for financial setbacks and crises.

Emergency fund

Having an emergency fund is commonly accepted (and good!) advice. When to spend it is addressed less often. 

To make it simple to decide when to use it, define what it's for first.

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