Mika
VIP Contributor
A financial safety net means you have money when you actually need it. Let’s say you lost your job and you no longer have a regular income. In a situation like this, how would you pay your bill? The answer is you should be building financial safety net before you encounter financial emergencies. Building emergency funds provides financial security during challenging times, allowing you to manage your financial requirements easily. A lot of people understood the importance of building emergency funds during the Covid crisis as a lot of people lost their jobs. Emergency funds act as a safety net during unexpected circumstances.
