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Emergency Fund

Emergency fund is another important part of money management. Simply because there are so many unexpected circumstances in life.

Some examples are urgent medical needs, car broke down and job loss.

Majority of these unexpected circumstances require financial needs.

With emergency fund, it can cushion our financial needs while we tend to these unexpected circumstance.

While, without emergency fund, most probably we will rely on credit cards.Or borrow from our relatives or friends.

don’t recommended both of these in proper money management. Especially on credit cards.

Because, using credit cards without proper planning could result in huge debts.