why is saving for emergency purposes essential

[Axis]

while saving up to reach a particular goal it is also important to save up for emergency purposes. like the say emergency association or event that can happen to us and when we least expected or planned. and so it is very essential that while saving we need to save up for emergency situations.

for example a situation might happen to us and such situation may require you spending money when you have no money set aside for emergency situations it might become a challenge for you to handle but when you have it at the back of your mind in saving money for situation just like this it will help you handle situations smoothly.

saving up for emergency situations has helped many and a lot of people.
although this might seem like a challenge or stressful to do but it is really rewarding.

I have experienced situations that have proof that saving up for emergency situation is important. few months ago while I was at work I received a call that my kid brother was sent back home from school because he didn't pay his school fees and on that day he was supposed to write his exams which was very important. so well thinking what to do. they thought of the money I kept in my emergency account entered my mind and with the help of the money I was able to handle that situation perfectly and my brother was able to write his exams

 

[cmoneyspinner]

Nobody will argue that setting money aside for what we Americans call "a rainy day" or an emergency is smart money management. In the USA, we have something called the Consumer Financial Protection Bureau. They actually give consumers good advice on financial management and how to protect themselves from fraudsters.

They published an excellent article titled "An essential guide to building an emergency fund" (consumerfinance.gov/an-essential-guide-to-building-an-emergency-fund/). The instructions are very detailed and they are so basic, I'm sure they will for you no matter where you live in.

 

[Sotherefore]

Saving for emergency purposes is very important most especially for business and for private individuals because we do not want to be in a situation that problems and emergency need got us by surprise . In a situation like this we may be stranded since we didn't plan for any emergency situation.

It Would rather be a wise decision that when things like this happen and we have a way of getting some money to sort it out most especially in terms of medical that has to do with our health and our life which is very important . .

I know this can't be possible if we don't have a way of generating enough money and because of this we have to try as much as possible to look for a way to generate more money so as to take care of things like this in our life . . .