is Emergency Fund are important? Rajesh, who works as a software engineer, suddenly faces a medical emergency in his family. He doesnāt have savings, so he ends up borrowing money at high interest, adding financial stress to an already tough time. Meanwhile, his friend Priya, who earns the same salary, faces a similar situation. But Priya is preparedāshe has an emergency fund. She calmly uses her savings and avoids debt. An emergency fund is simply 3ā6 months of your basic living expenses, kept aside for unexpected situations like job loss, health issues, or sudden repairs. Itās your safety net, giving you peace of mind and protecting your long-term financial goals. Even saving ā¹1,000āā¹2,000 a month can build this fund over time. Start small and stay consistentāitās a lifesaver!
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