There’s nothing worse than being caught short for money when life goes a little off-kilter. You may never have considered having one before, but an emergency fund is an essential in life. Life has an annoying way of throwing things up in the air that you didn’t necessarily expect to happen. A car accident. Eviction. Waking up to find the freezer has defrosted all over the kitchen floor. Each of these events are unlikely to happen to you all at once, if at all, but what if they did? What would you do?

This is where an emergency fund is literally the one thing you should always ensure that you have with your bank. You can’t always predict the expenses that may come your way, but you can plan for them as best you can. The working people among you may choose to look into the variety of insurances from InsureSTAT alongside having a saving account stuffed full of emergency cash. It’s important to always have a contingency plan for when life decides not to go the way that you expected it to. So, why should you go ahead and start your savings?

1. Job Loss. No matter how secure you think you are, your job is not secure. As an employee, you are always going to be replaceable, and even if you don’t do anything wrong to lose your job, the company that you work for can fold and you can end up being left behind. Having an emergency fund can be the reassurance that you need if that ever happens.

2. Pregnancy. Not every pregnancy is planned, but that doesn’t mean you can’t go ahead with it. The emergency savings that you’ve built up over time could either go toward the many items that a new baby needs to be able to stay comfortable and safe, or it could go toward more time off for you with your new baby.

3. Illness. There is not one person out there that plans to get sick, whether that’s with a lifelong or terminal illness, or an accident that means that you can no longer work. Your fund could be the bridge that you need between working and setting yourself up with the right out of work benefits.

4. Eviction. As a homeowner, you’re not as protected as someone who rents their home. So, it makes sense that you would want to have a cash fund as a backup in case, for whatever reason, you cannot pay the mortgage. Your emergency fund could pay for a new home to live in while you get yourself sorted for somewhere more permanent.

5. Car Trouble. That day you get stuck on the highway with an irreparable car is a day the commuter does not want to encounter. So, having the cash to be able to get a new car relatively quickly is important.

An emergency fund can make a big difference to your comfort levels as time moves on, so be secure, be aware and be comfortable in your day to day life!

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