An Emergency fund creates a financial buffer that can keep you afloat at a time in need without relying on credit cards or high interest loans. It may be especially important to have an emergency fund if you have debts, as this can help you avoid loans, higher credit card use, and avoid accumulating bigger debt.
Originally written by Sebastian Rodriguez; founder at Prosperity Leaders
source: https://prosperityleaders.net/saving-for-an-emergency/
