You may have come across several blogs and websites citing why an emergency fund is necessary, however, real-life success stories where an emergency fund has saved the day are rare.
One of the reasons for this could be that not many people prepare for an emergency and end up digging into investments set aside for other financial goals or build up debt by taking a personal loan or swipe their credit card for non-budgeted expenses.
Emergencies can knock at your door at anytime and to be financially prepared is very important. This infographic shows 3 steps to build an emergency fund.
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