You may have already mastered doing your budget all but what if an emergency happens?
What if you lose your job today? What if your car or a major home appliance breaks? What if your house gets hit by a flood or other natural calamities?
When things like these happen, we tend to borrow from other people or from credit card companies. These will result in increased debts which you can avoid by having an emergency fund.
We never know what tomorrow may bring so it’s always best to be ready.
But how do you actually start an emergency fund? To answer that, here are questions you need to ask yourself first to set up an emergency fund you can rely on when you need it.