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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Define What Your Emergency Fund Is For To Avoid Spending It Carelessly
lifehacker.com
2 ideas
·600 reads
IDEAS CURATED BY
"Making money is art and working is art and good business is the best art." ~ Andy Warhol
The idea is part of this collection:
Learn more about moneyandinvestments with this collection
Cultivating self-awareness and self-reflection
Prioritizing and setting boundaries for self-care
Practicing mindfulness and presence
Related collections
Similar ideas to Emergency fund
Define what your emergency fund is
Your first step is to figure out what counts as a true emergency.
Not all emergencies can be predicted, but many can. Car repairs, medical expenses, higher-than-normal bills. Even having a list of things that you can and cannot spend an emergency fund on can help you stay on track a...
Managing your emergency fund
Having an emergency fund can prove life-saving when you are in desperate need of money. However, before starting to use the money, make sure the situation really requires the measure.
For instance, try spending the money on situations that occur totally unexpectedly rather than on event...
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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