If you leave home and the weather report shows a strong possibility of rain, most people have the foresight to grab either a raincoat or an umbrella, or maybe both.
With this idea in mind, it is good to have an emergency fund in place. Financially speaking, the rain is coming, it is just a matter of time.
Most people go through at least one kind of financial emergency in their life. It could be something minor like a little fender bender at a traffic light. Or it could be more devastating and long-lasting.
Whatever the situation may be, everyone needs to have some money set aside in an emergency fund to help them get through difficult times.
Developing a plan to save money for these emergencies will help you stay on track with your other financial goals too.
Top Benefits of an Emergency Fund