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Life is full of circumstances and most of these cannot be predicted. In other for us to be able to sustain financially, one needs to be prepared for these sudden circumstances. We remember year 2020 when Covid-19 became full blown. Lot of people lost their jobs, it became very had to survive and even sustaining the family was a hige problemfor many. This period of time was a really trying one as there was even no job and you can't go out to seek for one. People's finances generally went down the drain. This alone must have taught people the importance of having an emergency fund.

What is an emergency fund?

Emergency fund is a series of savings made by an individual with the goal of meeting targeted needs during an event of sudden financial shock or disaster. It is that money that can be run to when things took a sudden bad turn financially.

It is very important to have an emergency fund as a person. This is because one can't determine what will happen tomorrow or the kind of situation we might find ourselves in. Its better to prepare for trying days like this.

Mind you savings is difference from emergency funds. Savings can be used to settle different things but emergency funds has a sole purpose and must not be tampered with. This type of fund is very important when one want to take some loan. This is because Loan always come with interest but with the emergency fund you can be rest assured that no interest is attached to the money. Also it saves you from going from grass to grace when faced with financial meltdown. It will be so unwise not to have one.

In order to start gathering money for the emergency fund, one can set a smaller achievable monetary value first like 50k and from there you you begin to increase the money little by little. Therefore, make a decision to start an emergency fund today.

THANK YOU FOR READING MY BLOG. HAVE AN AMAZING DAY.

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