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Thats an astounding number that reflects the financial challenges most Americans are facing today.
Thats why financial expert Rachel Cruze insists on the importance of anemergency fund.
1 solution toprepare for a financial emergency is simple.
How Much Should Your Emergency Fund Be?
Thats the first step to taking better control of your financial health.
Nonetheless, its imperative to prioritize your budget to build up an emergency fund for several reasons.
Preparation
Life is unpredictable.
You cant see the future, nor can you plan forevery monthly expense.
When you have an emergency fund, youre prepping forall the unexpected expensesthat might come.
Saving Money
Many Americans choose to use credit cards as an emergency fund.
Cruze strongly advises against this strategy because credit cards charge significant interest.
Thats an unhealthy, stressful way to live.
A cash emergency fund can help alleviate some of that stress.
When youre prepared for the unexpected, it’s possible for you to live a little more worry-free.
Its going to rain.
And sometimes, itll flood.
With an emergency fund, youll be ready.
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