Emergency fund importance

[Manasha1]

Set up a monthly automatic transfer from your checking account to a second savings account. This can help you keep on track with your savings objectives and avoid forgetting to save.

Emphasize your emergency fund: Consider your emergency fund a priority and an unavoidable cost. Place it ahead of non-essential expenditures and budget for it.

Maintain a separate emergency fund: Put your emergency money in a separate savings account so you are not tempted to utilize it for non-emergencies.

Re-evaluate your emergency fund: If your financial condition improves, make sure to re-evaluate and amend your emergency fund as needed.

The importance of emergency fund is nice to understand.

 

[saoussen57651]

I think saving money on something like gold is better than a saving account because monetary value due to inflation decreases gradually over time. But the price of gold increases.