No matter how financially prepared you are, life has a way of throwing curveballs that you never expect. Those “unexpected expenses” are the reason many financial professionals suggest having an Emergency Fund tucked away.
Even if you can’t imagine a scenario where you would need rescuing, remember, anything can happen. Here, for example, are ten situations where you might need an emergency fund.
There may even be moments where several of these happen to you at once.
In the end, saving money isn’t always easy, but it’s likely to be less painful than the alternatives. Everyone needs to save for the unexpected. Having something in reserve can mean the difference between weathering a short-term financial storm or going deep into debt.