Flourish - eMag - Mar 25 - Flipbook - Page 53
6. Use Windfalls Wisely
Received a tax refund, bonus, or birthday cash gift? Consider
adding it to your emergency fund. Windfalls are a great way
to give your savings a quick boost.
7. Review and Adjust
Life changes, and so do your expenses. Review your
emergency fund periodically to ensure it aligns with your
current 昀椀nancial situation.
When to
Use Your
Emergency
Fund
A
n emergency fund is for true
emergencies—not for holidays,
shopping sprees, or upgrading your
gadgets. Think unexpected medical
bills, urgent home repairs, or covering
expenses during job loss.
Use your fund wisely, and always prioritise
replenishing it after use.
Creating an emergency fund is one of the best
昀椀nancial decisions you can make. It’s not just
about having money set aside; it’s about taking
control of your 昀椀nancial future. The peace of
mind and con昀椀dence that comes with knowing
you’re prepared for life’s surprises is invaluable.
So, what are you waiting for? Start small, stay
consistent, and watch your emergency fund
grow. Your future self will thank you!
Building an
Emergency
Fund is
Empowering
